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Brief news summary
Shares of Super Micro Computer, along with other AI-related stocks, soared on Monday, climbing more than 6%. Super Micro Computer, known for its data center technology and partnership with Nvidia, has thrived amidst the AI boom. As Nvidia's market performance faces uncertainties, investors searching for alternative AI investments view Super Micro as an attractive option. Super Micro's stock value has tripled this year, closing at $899.34 on Monday. The company's hardware plays a vital role in Nvidia's data center technology and is used by xAI, Elon Musk's AI firm. Advanced Micro Devices (AMD) and Taiwan Semiconductor Manufacturing Company (TSM) are also considered potential "AI proxies" for investors keen on the AI sector. On Monday, both Nvidia's and AMD's shares, as well as TSMC and Corning, enjoyed positive results driven by the prevailing optimism surrounding AI.Super Micro Computer saw a 6% increase in its shares on Monday, along with other stocks in the artificial intelligence (AI) sector. The company, which specializes in data center technology and is a partner of Nvidia, has been benefiting from the AI boom. Super Micro's shares have tripled in value this year. Analysts at Vanda Research have suggested that Super Micro Computer, along with Advanced Micro Devices (AMD) and Taiwan Semiconductor Manufacturing Company (TSM), could serve as alternative investment options for those concerned about Nvidia's future performance in the AI market. On Monday, Nvidia's shares also experienced growth due to positive outlooks from Wall Street analysts.
AMD's shares increased by almost 4%, while TSMC saw a rise of over 1%. Furthermore, Corning's shares were boosted by the overall optimism surrounding the AI industry.
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