3 Stocks Poised to Lead $10 Billion AI Networking Boom According to Bank of America

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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.

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Frequently Asked Questions (FAQs) Related to the Above News

What is Bank of America's prediction for the global AI software market?

Bank of America has predicted that the global AI software market will reach $900 billion by 2026, up from under $600 billion this year.

What will be needed to help speed up machine learning processes as demand for generative AI increases?

As demand for generative AI increases over the next five years, specialized hardware, such as networking silicon chips, will be needed to help speed up machine learning processes.

What is Bank of America's prediction for the total addressable market for silicon-based chips?

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.

Which companies are expected to lead the market share for networking silicon chips?

Nvidia, which currently leads demand for InfiniBand connectivity technology, is expected to be joined by Broadcom and Marvell Technology as the market share expands.

Please note that the FAQs provided on this page are based on the news article published. While we strive to provide accurate and up-to-date information, it is always recommended to consult relevant authorities or professionals before making any decisions or taking action based on the FAQs or the news article.

Advait Gupta
Advait Gupta
Advait is our expert writer and manager for the Artificial Intelligence category. His passion for AI research and its advancements drives him to deliver in-depth articles that explore the frontiers of this rapidly evolving field. Advait's articles delve into the latest breakthroughs, trends, and ethical considerations, keeping readers at the forefront of AI knowledge.

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