Chip stocks, especially those that would benefit from the artificial intelligence (AI) craze, had an amazing rally in 2023. Notably, Nvidia (NASDAQ:NVDA), the chipmaker most critical to designing high-end chips for training large language models (LLMs), saw its share price increase by more than 239% last year.
The CHIPS Act, another notable piece of legislation passed by the Biden Administration, will help lower manufacturing costs for chipmakers setting up factories in the United States. Here are three chip stocks benefitting from those broader trends investors should watch in 2024.
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