On June 18, Nvidia stood tall among all tech companies as the most valuable company in the world, with market valuation of $3.4 trillion making others follow its footsteps. In 2024, Nvidia solidified its position as the market Giant through groundbreaking innovations in AI, gaming, and data centers.

CEO of Nvidia Jasen Huang Said, “We have reinvented Nvidia, the computer industry and very likely the world.“

Milmo, D. (ed.) (2024) Can ai boom drive nvidia to a $4tn valuation despite investor doubt?, The Guardian. Available at: https://www.theguardian.com/technology/article/2024/jul/02/can-ai-boom-drive-nvidia-to-a-4tn-valuation-despite-investor-doubt (Accessed: 03 July 2024).

Nvidia surpassed expectations with record-breaking stock performance and strategic acquisitions, becoming a benchmark for growth and innovation in the tech sector. The CEO of this company is aiming to take this company to new heights by seeing its company over 4 trillion dollars as company is doing heavy progress and hard work in making high quality GPU’s and other AI products that are beneficial for other companies as well as for common man.

4 Tech companies With Greater Growth Potential

Now everyone is searching and looking for tech companies that can potentially be the Nvidia of near future or in fact surpass Nvidia as well. So, in this article I would be providing names of such tech companies that have a potential to overtake Nvidia, their main products as well as their market valuation and their stocks prices.

1. Taiwan Semiconductor Manufacturing Company (TSMC):

First in the list of companies having greater growth potential than Nvidia is Taiwan Semiconductor Manufacturing Company (TSMC). It is the main powerhouse of world’s Semiconductor industry trusted by top tech companies, TSMC’s chips power everything from smartphones to supercomputers, making it a vital force in shaping the digital world we live in.

Main Product:

TSMC is a leading semiconductor foundry, manufacturing chips for tech companies like Apple, NVIDIA, and AMD.  TSMC’s main offerings include cutting-edge silicon wafers and custom chip fabrication services, which are essential for the latest processors, GPUs, and AI accelerators used by leading tech companies globally. These tech companies rely heavily on this company for their own products and services. This makes TSMC the main driving force for the world semi-conductor industry as well and the world depends on it.

Growth Potential:

As demand for advanced chips (including AI-specific chips) increases, TSMC’s role becomes even more critical. Its cutting-edge technology and capacity expansion puts it in the driving seat for future growth. Also, its competitors are far behind in this race of making good quality and affordable semiconductors, so it is of great advantage for this company as well.

Market Valuation and Stock Prices:

TSMC’s market valuation increased by 75.46% in year 2024 standing at $946.40 Billion from $539.38 Billion in previous year. Its stock price, currently at $182.5, also increased rapidly in this year making it one of the best performing companies in the world.

2. Advanced Micro Devices (AMD):

The second in the list of tech companies having greater growth potential than Nvidia is Advanced Micro Devices (AMD).  AMD is a renowned semiconductor company specializing in high-performance computing and graphics solutions.

Main Products:

AMD competes with NVIDIA in the GPU market and has been gaining ground. AMD’s main products include central processing units (CPUs) such as the Ryzen and EPYC series, which cater to consumer, business, and data center markets, respectively. Additionally, AMD produces graphics processing units (GPUs) under the Radeon brand, widely used in gaming, professional graphics, and AI applications. The company also offers custom solutions for various industries, enhancing its reputation for innovation and performance.

Growth Potential:

Advanced Micro Devices (AMD) has shown significant growth potential, driven by its competitive CPUs and GPUs that rival Nvidia’s offerings. With innovations in high-performance computing and graphics, AMD has gained market share in gaming, data centers, and AI applications, positioning itself as a main competitor to Nvidia.

Market Valuation and Stock Prices:

AMD’s market valuation is currently $264.91 Billion, and it has the potential to surpass a trillion-dollar market cap soon. Its stock price, currently at $163.9, is increasing rapidly now after a fall at the start of the year.

3. Qualcomm (QCOM):

Third in the list of tech companies having greater growth potential than Nvidia is Qualcomm (QCOM).  Qualcomm (QCOM) is a global leader in wireless technology, renowned for its Snapdragon processors and 5G solutions. The company’s innovations drive advancements in mobile devices, IoT, and automotive industries, making Qualcomm a key player in the tech world.

Main Products:

Qualcomm’s main products include the Snapdragon series of mobile processors, which power a wide range of smartphones and tablets, offering high-performance computing and connectivity capabilities. Additionally, Qualcomm develops wireless modems and platforms for 5G connectivity, enabling faster and more reliable mobile broadband experiences worldwide. These technologies cement Qualcomm’s role in shaping the future of mobile communications and IoT ecosystems.

Growth Potential:

Qualcomm (QCOM) holds significant growth potential, particularly in 5G technology where it leads with its Snapdragon processors and modem solutions. As 5G adoption expands globally, Qualcomm stands to benefit from increased demand for its advanced mobile and IoT platforms. Furthermore, Qualcomm’s strategic focus on automotive and IoT sectors positions it to challenge Nvidia’s dominance in these emerging markets, potentially reshaping competition in future tech landscapes.

Market Valuation and Stock Prices:

QCOM’s market valuation increased by 41.3% in the year 2024 standing at $227.45 Billion from $160.97 Billion in the previous year. Its stock price, currently at $203.8, also increased rapidly in this year making it one of the best performing companies.

4. Palantir Technologies (PLTR):

Fourth in the list of tech companies having greater growth potential than Nvidia is Palantir Technologies (PLTR). Palantir Technologies (PLTR) is a leading software company specializing in big data analytics and intelligence solutions. Known for its powerful platforms, such as Palantir Gotham and Palantir Foundry, the company helps organizations across various sectors make data-driven decisions and gain actionable insights.

Main Products:

Palantir Technologies’ main products include Palantir Gotham and Palantir Foundry. Palantir Gotham is used primarily by government agencies for intelligence and counterterrorism operations, while Palantir Foundry serves commercial clients, enabling them to integrate, analyze, and visualize vast amounts of data for informed decision-making.

Growth Potential:

Palantir Technologies (PLTR) has significant growth potential, driven by increasing demand for advanced data analytics across both government and commercial sectors. With its robust platforms, Palantir is well positioned to expand its market share, potentially surpassing Nvidia in the realm of data-driven decision-making and enterprise software solutions.

Market Valuation and Stock Prices:

PLTR’s market valuation increased by 54.08% in the year 2024 standing at $57.56 Billion from $37.36 Billion in the previous year. Its stock price, currently at $25.9, also increased rapidly in this year comparing to past year at $6.42 in December 2023.

Remember! Investing involves risks, and thorough research is essential. These tech companies have exciting prospects, but market dynamics can change rapidly! 🚀🌟📈.