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.

As a result, Broadcom and Nvidia are positioned to benefit for years as the AI industry expands from 2023's global market size of $136 billion to an estimated $827 billion by 2030. This is one reason owning shares in both is a great way to invest in the secular trend of AI.

Can Nvidia grow even bigger? Yep. The chip giant sees a $1 trillion opportunity ahead -- and it's not AI. Nvidia CEO Jensen Huang said in his company's second-quarter earnings call in August, " [T]he world is moving from general-purpose computing to accelerated computing.

Looking for the best AI stock to buy right now? Never mind Nvidia; This tech titan could be a much better bet at the moment.