The rising demand for generative artificial intelligence has led to a surge in shares of many AI-linked companies like chipmaker Nvidia and ChatGPT backer Microsoft . Now, RBC Capital Markets has identified three lesser-known companies poised to cash in on the AI boom in a big way.
The consensus price target also points to a 9.5% upside, according to FactSet. nVent The electrical component maker is also set to benefit from surging demand for its liquid cooling systems and power distribution units — products critical for supporting AI hardware, according to RBC. The investment bank pointed out that over 40% of nVent's data center division's revenue growth this year is expected to come from liquid cooling and PDU.
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