The semiconductor space has been an important driver for the stock market, helped especially by Nvidia Corp.’s dramatic sales growth — the company’s most recent quarterly revenue was 4.5 times as high as it was two years earlier.

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As a result, Broadcom and Nvidia are positioned to benefit for years as the AI industry expands from 2023's global market size of $136 billion to an estimated $827 billion by 2030. This is one reason owning shares in both is a great way to invest in the secular trend of AI.

Nvidia Corp. is teaming up with Abu Dhabi-based G42 to create a climate technology lab, marking its first partnership with the United Arab Emirates’ top artificial intelligence firm.