Nvidia (NVDA)
Nvidia (NASDAQ:NVDA) has been the star of the Nasdaq 100 in 2024, boasting a remarkable 147% increase in its stock value year-to-date. The demand for its artificial intelligence chips has been a primary driver of this phenomenal growth. Nvidia’s relentless innovation and strategic software development have positioned it as the premier AI chipmaker in the industry. While competitors like Advanced Micro Devices (NASDAQ:AMD) and Intel (NASDAQ:INTC) are striving to catch up, Nvidia continues to push boundaries with next-generation AI accelerators. As the market witnesses Nvidia’s continuous sprint ahead, it’s evident why NVDA leads the Nasdaq 100 pack.
Arm Holdings (ARM)
Arm Holdings (NASDAQ:ARM) has had a stellar journey since its IPO, marking a 227% increase in its stock price since then. AI’s influence on Arm’s growth trajectory is evident, even though the company’s revenue model differs from traditional chipmakers. Arm’s licensing of chip architecture has made it a key player in enabling other companies to design their own chips and CPUs. With a dominant presence in the smartphone market and a strategic shift towards data centers, Arm’s trajectory is set for further ascension. Despite a recent market dip, Arm Holdings’ impending financial report is expected to spark renewed growth for this Nasdaq heavyweight.
Constellation Energy (CEG)
Constellation Energy (NASDAQ:CEG) stands out amidst tech-heavy Nasdaq 100 stocks, having surged 68% in 2024 fueled by AI-driven demand and the escalating power requirements of data centers. The appeal of nuclear energy as a sustainable and cost-effective power source has boosted Constellation’s stock value, doubling it over the past year. Despite a recent pullback due to market rotations, Constellation Energy remains a compelling investment option. As AI continues to drive energy needs upward, Constellation’s prospects for further growth remain bright. This slight setback could well pave the way for a renewed upward surge for the utility giant.
