This Overlooked AI Trade Has Been Quietly Outperforming Nvidia Over the Last 6 Months
Many investors don't realize this EV maker is betting big on AI.
Overview
Nvidia remains a top pick for artificial intelligence (AI)-focused investors. The GPU stock is, quite simply, an AI powerhouse. Nvidia sits at the center of the AI revolution, making shares a must for nearly every portfolio seeking exposure to this cutting-edge field. Wall Street analysts still expect a lot of growth ahead for Nvidia. But the company's $4.8 trillion valuation may cap how quickly it can grow from here.
Investors seeking greater growth potential should consider smaller AI stocks. Right now, there's a relatively tiny EV stock attempting to go all-in on AI. Most investors don't realize how much this electric car maker is betting on AI. And over the last six months, this company's stock has actually outperformed Nvidia shares.
Details
On the surface, Rivian Automotive (NASDAQ: RIVN) looks like an EV stock. And it is. Nearly all of the company's revenue comes from electric vehicle sales. And nearly all of the company's growth this year should be fueled by rising sales for its R2 SUV -- Rivian's first EV priced under $50,000.
Source
Originally published at www.fool.com.