<p>The first phase of the current artificial intelligence (AI) boom was all about training the foundational large language models (LLMs) needed to help answer queries and perform tasks. Training these AI models required a ton of processing power, which is where <strong>Nvidia</strong> <span class="ticker-mention inline-flex items-center font-bold">(NVDA <span class="ml-1 text-green-900">+1.73%</span>)</span> and its graphics processing units (GPUs) shone.</p>
<p>Not only are Nvidia's GPUs powerful, but the company also smartly seeded its CUDA software platform in places where early AI research was being done. This led to most early foundational code being written on its software and optimized for its chips, giving it a huge moat and making it the biggest AI winner.</p>
<p>While AI model training remains important, this AI-focused market is starting to shift toward inference and agentic AI. New winners will emerge as factors such as memory, central processing units (CPUs), and cost per inference become more important. Let's look at three AI stocks that could become the next big AI winners.</p>
<div><img alt="Artist rendering of AI chip." width="880" height="495" src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84Njk4MzgvZ2V0dHlpbWFnZXMtMTQwMjQ1Mjg3Ni5qcGcmdz0zODQw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84Njk4MzgvZ2V0dHlpbWFnZXMtMTQwMjQ1Mjg3Ni5qcGcmdz0zODQw"/>
<p>Image source: Getty Images</p>
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<h2>AMD: An agentic AI and inference winner</h2>
<p>The shift toward agentic AI and inference plays to <strong>Advanced Micro Devices</strong>' <span class="ticker-mention inline-flex items-center font-bold">(AMD <span class="ml-1 text-green-900">+7.23%</span>)</span> strengths. First, both require much higher CPU-to-GPU ratios: training at about 1:8, inference at around 1:4, and agentic AI at 1:1. AMD is the leader in the high-performance data center CPU market, so this is a huge tailwind for the company. On top of that, data center CPU prices should also be on the rise, as agentic AI needs more cores (sort of like individual workplaces with the chips), which should raise prices. </p><div><div id="foolcom_sidebar_top_container"></div></div>
<section><div><div><div><small><div>Expand</div></small></div><div><img alt="Advanced Micro Devices Stock Quote" width="64" height="64" src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vYXJ0L2NvbXBhbnlsb2dvcy9tYXJrL0FNRC5wbmcmdz0xMjg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vYXJ0L2NvbXBhbnlsb2dvcy9tYXJrL0FNRC5wbmcmdz0xMjg"/></div><div><h2>NASDAQ: AMD</h2><div>Advanced Micro Devices</div></div></div><div><div><div>Today's Change</div><div>(7.23%) $29.94</div><div>Current Price</div><div>$443.99</div></div><div></div></div></div><div><div></div><div><h3>Key Data Points</h3><div><div>Market Cap</div><div>$675B</div><div>Day's Range</div><div>$426.75 - $448.72</div><div>52wk Range</div><div>$107.67 - $469.21</div><div>Volume</div><div>705K</div><div>Avg Vol</div><div>39M</div><div>Gross Margin</div><div>47.09%</div></div></div></div></section>
<p>AMD's chiplet GPUs, meanwhile, pack in more memory, which makes them ideal for inference, which tends to be more memory-bound than processing-bound. With large GPU inference deals in place, the company is set to be a winner in inference and agentic AI.</p><div></div>
<h2>Micron: A HBM leader</h2>
<p>As noted above, inference tends to be more memory-bound than processing-bound, which is great news for dynamic random access memory (DRAM) maker <strong>Micron Technology</strong> <span class="ticker-mention inline-flex items-center font-bold">(MU <span class="ml-1 text-green-900">+2.26%</span>)</span>. The DRAM market is already undersupplied, which is driving up prices, and the market shift to inference should only keep demand booming.</p><div><div id="in_line_article_pitch_container"></div></div>
<section><div><div><div><small><div>Expand</div></small></div><div><img alt="Micron Technology Stock Quote" width="64" height="64" src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vYXJ0L2NvbXBhbnlsb2dvcy9tYXJrL01VLnBuZyZ3PTEyOA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vYXJ0L2NvbXBhbnlsb2dvcy9tYXJrL01VLnBuZyZ3PTEyOA"/></div><div><h2>NASDAQ: MU</h2><div>Micron Technology</div></div></div><div><div><div>Today's Change</div><div>(2.26%) $15.81</div><div>Current Price</div><div>$714.55</div></div><div></div></div></div><div><div></div><div><h3>Key Data Points</h3><div><div>Market Cap</div><div>$788B</div><div>Day's Range</div><div>$700.70 - $735.40</div><div>52wk Range</div><div>$90.93 - $818.67</div><div>Volume</div><div>929K</div><div>Avg Vol</div><div>45M</div><div>Gross Margin</div><div>58.54%</div><div>Dividend Yield</div><div>0.07%</div></div></div></div></section>
<p>In general, GPUs need to be packaged with a special form of DRAM called high-bandwidth memory (HBM) to perform optimally, and inference uses even more of this memory. While static random-access memory is a competing technology, it is physically large and expensive. With AI chip demand continuing to surge, the outlook for HBM and DRAM remains strong. Meanwhile, the big three DRAM makers -- Micron and Korean companies <strong>Samsung</strong> and <strong>SK Hynix </strong>-- have started to lock in longer-term (three-to-five-year) deals, marking a major shift for the memory industry. </p>
<p>Against this backdrop, Micron looks like a big inference market winner.</p>
<h2>Broadcom: A custom chip giant</h2>
<p>Another winner as the market shifts toward inference is <strong>Broadcom</strong> <span class="ticker-mention inline-flex items-center font-bold">(AVGO <span class="ml-1 text-green-900">+1.98%</span>)</span>. As a leading provider of application-specific integrated circuit technology, the company helps customers develop custom hardwired chips designed for specific tasks. Increasingly, one of these tasks is inference.</p>
<section><div><div><div><small><div>Expand</div></small></div><div><img alt="Broadcom Stock Quote" width="64" height="64" src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vYXJ0L2NvbXBhbnlsb2dvcy9tYXJrL0FWR08ucG5nJnc9MTI4?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vYXJ0L2NvbXBhbnlsb2dvcy9tYXJrL0FWR08ucG5nJnc9MTI4"/></div><div><h2>NASDAQ: AVGO</h2><div>Broadcom</div></div></div><div><div><div>Today's Change</div><div>(1.98%) $8.13</div><div>Current Price</div><div>$419.20</div></div><div></div></div></div><div><div></div><div><h3>Key Data Points</h3><div><div>Market Cap</div><div>$1.9T</div><div>Day's Range</div><div>$411.50 - $424.14</div><div>52wk Range</div><div>$226.18 - $442.36</div><div>Volume</div><div>395K</div><div>Avg Vol</div><div>24M</div><div>Gross Margin</div><div>64.96%</div><div>Dividend Yield</div><div>0.60%</div></div></div></div></section>
<p>Broadcom helped <strong>Alphabet</strong> design its highly successful Tensor Processing Unit (TPU), a huge driver in and of itself. Alphabet is spending a boatload on AI infrastructure, including its own chips. It's also allowing some select customers to buy directly from Broadcom. One of these customers is Anthropic, which has placed a $21 billion TPU order for this year, and the three companies agreed to a partnership for more orders in the future. </p>
<p>Meanwhile, given the success of TPUs, other hyperscalers (owners of large data centers) have also been turning to Broadcom to help them develop their own chips, often with the intent to lower inference costs. Broadcom says it has a clear line of sight to its custom chip business alone, hitting over $100 billion in revenue in fiscal 2027. Throw in its fast-growing networking business, which is benefiting from larger AI clusters, and the company is set to be a big winner in the inference economy.</p><div id="article_pitch_container"></div><div id="promobox_container"></div>

AVGO

<p>The AI market is shifting from training to inference and agentic AI, presenting new opportunities for companies like AMD, Micron, and Broadcom. AMD is positioned to benefit from higher CPU demand for inference, while Micron's DRAM and HBM products are in high demand due to the memory-bound nature of inference. Broadcom is capitalizing on custom chip development for inference tasks, with significant partnerships and revenue growth projected.</p>

- The article discusses the evolving AI market, highlighting the transition from training large language models to focusing on inference and agentic AI.  
- Nvidia has dominated the initial phase due to its powerful GPUs and established software platform, but new competitors like AMD, Micron, and Broadcom are positioned to thrive as demand shifts.  
- AMD leads in CPU technology for inference, Micron benefits from rising DRAM prices, and Broadcom is pivotal in developing custom chips, all contributing to their potential success in the emerging AI landscape.

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These Super Stocks Could Be the Biggest Winners in the AI Inference and Agentic AI Economy