The "Magnificent Seven's" Capex Supercycle Has Given Birth to 2 Millionaire-Maker Stocks Hiding in Plain Sight. Here's the Best of the Bunch
AI infrastructure spending by the top U.S. hyperscalers is poised to exceed $700 billion this year, and that's great news for these AI stocks.
Overview
The enormous spending on artificial intelligence (AI) infrastructure isn't showing any signs of slowing, as major U.S. hyperscalers continue to aggressively build new data centers to run AI workloads in the cloud.
Hyperscalers such as Amazon, Microsoft, Alphabet's Google, and Meta Platforms, which are part of the Magnificent Seven, are poised to significantly increase their capital spending to support the rollout of AI infrastructure. The combined capital expenditure of these four companies is on track to reach a record $725 billion this year, an increase of 77% over last year, according to the Financial Times.
Details
Investors can capitalize on this massive outlay by investing in Micron Technology (NASDAQ: MU) and Dell Technologies (NYSE: DELL), which appear to be ideal fits for anyone looking to build a million-dollar portfolio, given their stunning growth and cheap valuations. Let's take a closer look at their prospects and check which of these two AI stocks is the better buy.
Source
Originally published at www.fool.com.