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.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: