Bank of America has predicted that the global AI software market is set to reach $900 billion by 2026, up from under $600 billion this year. As demand for generative AI, which creates new content or data, increases over the next five years, specialized hardware – such as networking silicon chips – will be needed to help speed up machine learning processes. Bank of America’s strategists predict the total addressable market for silicon-based chips will grow at a compound annual growth rate of 40% to $10 billion by 2027, up from $2 billion in 2022. Nvidia, which currently leads demand for InfiniBand connectivity technology, is expected to be joined by Broadcom and Marvell Technology as the market share expands.
3 Stocks Poised to Lead $10 Billion AI Networking Boom According to Bank of America
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