Morgan Stanley offered up some of its top ways to play artificial intelligence as the technology enters a "golden age." Enthusiasm around AI contributed to a hefty chunk of market gains in the first half, with giants such as Nvidia and Meta Platforms more than doubling. But even after those significant surges, Morgan Stanley thinks the tailwinds are far from over.
mountain Nvidia shares in 2023. Despite Nvidia's dominance, strong execution and ability to aggressively "defend its turf," Morgan Stanley also remains bullish on Advanced Micro Devices, highlighting its low-cost inferencing segment hinging on its MI300 product launching later this year. "AMD's share of that opportunity seems more tangible and durable than our initial expectations, with solid revenue forecasts from two of the four U.S.
mountain Marvell Technology shares this year Taiwan Semiconductor Manufacturing remains another dominant AI leader, with U.S.-listed shares up more than 30% this year. Morgan Stanley forecasts 13% of revenues by 2027 could stem from AI chip manufacturing. "We view TSMC as a key enabler of future AI semis given its technology leadership, which should enable it to capture > 90% of market share in AI semi chip manufacturing in the coming 5 years, we estimate," the firm wrote.