Chip stocks like Nvidia and Micron Technology are crucial in the expansion of AI and are expected to experience strong long-term growth. Nvidia's stock has seen remarkable gains of 130% this year, while Micron has had a more modest increase of 29%. Nvidia dominates the AI data center graphics card market, while Micron is experiencing a turnaround in its fortunes thanks to AI. Both companies present attractive investment opportunities, with Nvidia capitalizing on the growing AI chip market and offering AI-related services beyond hardware.

Micron, on the other hand, is a key player in high-bandwidth memory (HBM) chips used in AI graphics cards and has already sold out its production capacity for the next few years. While Nvidia has faster growth, Micron is available at a cheaper valuation, making it appealing for investors seeking a mix of growth and value. Ultimately, investors can choose either or both of these AI stocks for their portfolios, as both companies are likely to play significant roles in the future of the AI market.