We recently compiled a list of the 8 Companies That Partnered With Nvidia (NVDA) This Month. In this article, we are going to take a look at where Micron Technology, Inc. (NASDAQ:MU) stands against the other stocks that partnered with NVIDIA this month.
Nvidia continues to be the biggest beneficiary of the rampant spending on AI infrastructure. The company’s Blackwell GPUs continue to be the most talked about technology in tech circles and that has catapulted the stock close to its all-time highs.
For many, the stock continues to be an expensive bet and at current levels, it is hard to pull the trigger and invest in the company’s stock. If you’re in the same boat and find it hard to buy a stock at its all-time highs, you may want to consider investing in companies that work with Nvidia. Nvidia’s accelerated computing technologies are powering many companies’ products, especially those related to AI and autonomy.
A close-up view of a computer motherboard with integrated semiconductor chips.
Micron Technology, Inc. (NASDAQ:MU)
Nvidia recently announced that Micron will be a key component of its supply chain for the execution of the Blackwell GPUs. Micron provides memory and storage solutions for the semiconductor industry, with its products used in consumer electronics, automobiles, computers, and servers.
Nvidia’s GPU technology is often constrained by the amount of memory it can process at a time. The requirement to process more and more data is now more important than ever. These GPUs require High Bandwidth Memory (HBM) and Micron is one of the top companies that specialize in it. The firm’s 1.8 terabytes per second of bandwidth is twice the bandwidth of the previous generation of Nvidia’s GPUs. This improvement suggests that Micron has been focusing on its R&D during this time which is one reason why Nvidia, itself a leader in innovation, prefers to partner with this firm.
Micron will stay relevant despite a lackluster performance at end the of last year, when people were negative about the stock. It is already up 17% YTD and with Nvidia confirming Micron is the supplier of choice for the storage and memory requirements, the year ahead is expected to be full of excitement for Micron investors.
Overall MU ranks 1st on our list of the companies that partnered with NVIDIA this month. While we acknowledge the potential of MU as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as MU but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: $30 Trillion Opportunity: 15 Best Humanoid Robot Stocks to Buy According to Morgan Stanley and Jim Cramer Says NVIDIA ‘Has Become A Wasteland’.
Disclosure: None. This article was originally published at Insider Monkey.