3 Top Artificial Intelligence (AI) Stocks to Buy Not Named Nvidia

Wall Street bulls pushed the stock market to new all-time highs to end June, as investors bet on a cease-fire deal in the Middle East. The strong end to the second quarter capped off a historic rebound from the early April lows.The Nasdaq soared over 33% since April 8, driven by mouth-watering gains from Nvidia and other growth stocks benefiting from the artificial intelligence revolution.The market might face some near-term selling pressure and volatility in the coming weeks. Still, the combination of trade deals, cooling inflation, and strong earnings growth expectations provide a bullish launching pad for stocks in the second half. The S&P 500 has also posted a positive July for 10 straight years.Let's dive into three highly-ranked Zacks stocks benefiting directly from the artificial intelligence spending boom to consider buying in July. Buy Picks-and-Shovels AI Stock Vertiv Now and HoldBehind-the-scenes technology stock Vertiv (VRT) soared1,445% in the past three years to outclimb AI chip powerhouse Nvidia’s 990% charge. The digital infrastructure and continuity solutions company is poised to benefit from the AI spending boom and become a long-term AI winner no matter who commercializes artificial intelligence and which AI hyperscalers gain the largest market share.Image Source: Zacks Investment ResearchVertiv’s hardware, software, analytics, and ongoing services portfolio is focused on power, cooling, and IT infrastructure, operating across AI data centers, communication networks, and commercial/industrial environments. The Ohio-based firm’s growing portfolio helps make sure the high-density computing power that drives technological innovation and the economy runs as smoothly as possible 24/7.VRT, which has partnered with Nvidia (NVDA) to help solve critical AI challenges such as cooling, averaged 16% revenue growth in the past four years."We continue to see accelerated scaling of AI deployments across the data center market, with strong demand signals reinforcing both our near- and long-term growth outlook… Our partnership with NVIDIA and our reference designs for their GB200 and GB300 NVL72 platforms position Vertiv at the forefront of AI factory deployment at industrial scale,” CEO Giordano Albertazzi said in prepared remarks last quarter.Image Source: Zacks Investment ResearchVertiv is projected to grow its revenue by 19% in 2025 and 14% next year to $10.87 billion—double its 2021 total. The soaring tech company is expected to boost its adjusted earnings by 25% and 24%, respectively, following 60% growth in 2024 and 236% in 2023. VRT reaffirmed its 2025 outlook in late May, and its upbeat EPS revisions earn it a Zacks Rank #2 (Buy).Wall Street loves the dividend-paying AI stock, with 15 of the 19 brokerage recommendations we have at “Strong Buys.” Despite its Nvidia-beating run over the past three years, VRT trades 16% below its highs and it’s on the verge of completing the bullish golden cross where the shorter-dated 50-day moving average climbs above the 200-day.Image Source: Zacks Investment ResearchVertiv trades at a 30% discount to its highs at 32.1X forward 12-month earnings. Its strong longer-term earnings growth outlook helps the stock trade at a 33% discount to Tech, even though VRT has crushed the sector over the past five years. TSMC is One of the Best AI Tech Stocks to Buy for the Next DecadePhysically building the most complex, cutting-edge semiconductors in the world makes Taiwan Semiconductor Manufacturing Co. (TSM) a straightforward, all-encompassing tech investment across AI, electronics, and future tech innovations. Taiwan Semi’s foundry-only model slowly transformed it into one of the only games in town for semiconductor manufacturing, especially at the bleeding edge. This backdrop is why TSM stock has skyrocketed 2,600% over the past 20 years, more than tripling the Tech sector's performance.Taiwan Semi reportedly holds a roughly 60% share of the entire foundry market and 90% of advanced chip manufacturing, boasting Apple and other tech titans as key clients. Nvidia’s massive AI expansion likely wouldn’t be possible without TSMC.Image Source: Zacks Investment ResearchTSMC is also critically addressing its geopolitical fears by expanding its manufacturing footprint outside Taiwan into Japan and the U.S. Taiwan Semi pays a dividend, and its balance sheet is solid.Taiwan Semi is boosting its industry-leading 3-nanometer production, fueled by demand from AI chip companies Nvidia and AMD. The pure-play foundry company said 3nm chips accounted for 22% of total wafer revenue in the first quarter of 2025, up from 9% in the year-ago period, with advanced technologies accounting for 73%.Image Source: Zacks Investment ResearchTSMC is projected to grow its revenue by 29% in FY25 and 17% in FY26 (following a 25% expansion last year) to surge from $90 billion in 2024 to $137 billion in 2026. Taiwan Semi is projected to grow its adjusted earnings by 32% in FY25 and 16% next year. The company’s recent positive earnings revisions earn it a Zacks Rank #2 (Buy) and extend its stretch of improving, AI-boosted earnings growth. And TSMC has topped our estimates for nearly five years running.Taiwan Semi stock might be a little overheated from a technical standpoint after its massive rally saw it hit new highs at the end of June alongside Nvidia and other tech standouts. That said, TSMC still trades at a 33% discount to its highs and 18% below Tech at 22.6X forward 12-month earnings.Image Source: Zacks Investment ResearchAny pullback to its 21-day or 50-day moving averages could represent a more enticing buying opportunity. Others might want to wait for its second-quarter earnings release on July 17. Long-term investors might avoid the market timing game and buy TSMC now. Buy Under the Radar MYRG Stock for the AI Infrastructure BoomMYR Group Inc. MYRG is a U.S.-based specialty contractor that builds and maintains electrical infrastructure, such as power lines and substations, for utilities, renewable energy projects, and beyond. The electric construction firm’s growth outlook is stellar. MYR Group is set to ride the massive energy and electrification infrastructure spending boom that’s just kicking off due to soaring AI energy demand and decades of underspending on critical energy infrastructure.Image Source: Zacks Investment ResearchMYRG’s Transmission and Distribution segment focuses on electric transmission lines, distribution networks, substations, clean energy projects, EV charging infrastructure, and much more for utilities and developers. MYR Group’s Commercial and Industrial unit provides electrical wiring, maintenance, and repair services for a diverse range of facilities, including airports, hospitals, AI data centers, industrial plants, as well as clean energy infrastructure.Image Source: Zacks Investment ResearchMYR Group went on a massive run between 2017 and 2023, before facing short-term setbacks in 2024, driven by project delays, cost overruns in clean energy contracts, and more. MYRG’s beat-and-raise first quarter helps it earn a Zacks Rank #1 (Strong Buy).Its backlog jumped 8% YoY in Q1 to $2.43 billion. MYRG is projected to grow its revenue by 3% and 6%, respectively, in 2025 and 2026. Better yet, its earnings are expected to bounce back massively after a rough 2024 to the tune of 260% growth in 2025 and 14% next year to reach $7.48 a share, blowing away its previous 2023 record of $5.42 a share.Image Source: Zacks Investment ResearchThe electric construction stock climbed 960% in the past 15 years, crushing the Utilities sector’s 45% and the S&P 500's 480%, including a 450% surge in the past five years. MYR Group recently broke out to new all-time highs. Yet, MYRG trades at a 20% discount to its highs at 25.8X forward 12-month earnings.Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 256 positions with double- and triple-digit gains in 2024 alone.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report NVIDIA Corporation (NVDA): Free Stock Analysis Report MYR Group, Inc. (MYRG): Free Stock Analysis Report Taiwan Semiconductor Manufacturing Company Ltd. (TSM): Free Stock Analysis Report Vertiv Holdings Co. (VRT): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks