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Shares of NVIDIA Corp. NVDA rose 44% in May, with the company joining the elite group of five U.S. tech companies with a market cap higher than $1 trillion.
The chipmaker giant launched a new class of large-memory AI supercomputer DGX GH200, designed to facilitate the building of massive, next-generation models for generative AI language applications, recommender systems and data analytics workloads.
The NVIDIA rise was also spurred by a fantastic quarterly earnings report, which led to widespread gains on other semiconductor and software manufacturers, as well as any industry tied to artificial intelligence space as investors race for the AI-catchup play.
Here are 5 AI-related stocks which have outperformed the chipmaker’s spectacular performance in May:
Palantir Technologies Inc. PLTR
- Palantir Technologies has risen 93% since May 2022 and is up 130% year to date.
- The company uses artificial intelligence on providing data integration, analysis and visualization tools.
- Palantir’s flagship platforms are Palantir Gotham and Palantir Foundry, which enable organizations to collect, integrate and analyze vast amounts of data from various sources.
- Market capitalization: $31.3 billion
- Forward 12-month P/E ratio: 63.5x, according to Benzinga Pro data.
Upstart Holdings, Inc. UPST
- Upstart Holdings has soared 100% since May 2022 and is up 106% year to date.
- Upstart Holdings operates as a cloud-based artificial intelligence (AI) lending platform, which collects consumer loan demand and links it to the company’s network of AI-enabled bank and credit union partners.
- Forward 12-month P/E ratio: 251.6x.
- Market capitalization: $2.3 billion
- The market’s short interest in Upstart Holdings stock is approximately 30% of the outstanding shares, making it the market’s most-shorted AI-related company.
Super Micro Computer, Inc. SMCI
- Super Micro Computer saw its shares increase 123% since May 2022, and 183% year to date.
- The company produces AI-ready infrastructure solutions that span from large-scale training clusters to intelligent edge inferencing solutions.
- Market capitalization: $12.3 billion
- Forward 12-month P/E ratio: 21.5x.
- The market’s short interest in Super Micro Computer stock is approximately 10% of the outstanding shares.
C3.ai, Inc. AI
- C3.ai skyrocketed 122% since May 2022 and 253% year to date.
- C3.ai operates as an enterprise AI software company offering a range of industry-specific products and applications that leverage AI and machine learning (ML) algorithms.
- Market capitalization: $4.44 billion.
- The market’s short interest in C3.ai stock is approximately 23% of the outstanding shares.
Nano-X Imaging Ltd NNOX
- Nano-X Imaging surged 182% since May 2022 and 133% year to date.
- The firm offers teleradiology services and creates artificial intelligence solutions for use in real-world medical imaging.
- Market capitalization: $952 million.
- The market’s short interest in Nano-X Imaging stock is approximately 13% of the outstanding shares.
Chart: Top Performing AI-Related Stocks In May 2023
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