Alphabet is developing and improving its competing AI product, the Tensor Processing Unit (TPU). It launched the sixth-generation TPU, Trillium, earlier this year. With five times more speed and 67% more energy efficiency, sixth-gen Trillium is a considerable leap over version five.

Perhaps no stock has prospered more from artificial intelligence (AI) than Nvidia. The semiconductor company leading in the development of AI chips brought triple-digit revenue and earnings growth, and at one point, the stock was up 1,000% from its late 2022 low.

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One company is behind Nvidia's success, and CEO Jensen Huang said it's the best in the industry. Despite the strong growth prospects, investors can still buy the stock for a great price right now. The chipmaker has shown incredible pricing power amid the strong demand.