Data Center Spending Set to Surge 566%: 1 Chip Stock to Buy Now

Spending on data centers shows no sign of slowing down -- they're becoming more important by the day as more of our lives rely on computers. They process information to make streaming video, artificial intelligence (AI), online shopping, banking, and smart cars possible.And as more companies move their systems to cloud environments to use AI tools that require massive power, data centers will continue to expand around the globe. Nvidia (NASDAQ: NVDA) CEO Jensen Huang said the company projects global spending on AI infrastructure will be $600 billion this year, and could reach $3 trillion to $4 trillion by 2030. That would be a growth rate of 400% to 566% at the top range, and a compound annual growth rate between 38% and 46%.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool