Surging demand for artificial intelligence helped Nvidia blow past Wall Street’s expectations on Wednesday. But while the chipmaker remains the undisputed leader in the AI arms race, it’s far from the only company benefitting from the frenzy overtaking Wall Street. The stock soared more than 29% before the bell on Thursday, building on its already huge returns this year after it shared a jaw-dropping forecast that blew past Wall Street’s estimates as demand for AI chips booms. Nvidia also topped earnings expectations on the top and bottom lines. NVDA 1D mountain Nvidia shares pop While Nvidia’s results seem to reiterate its clear chip dominance, other names are gaining buzz on Wall Street and could see big gains as AI booms. Advanced Micro Devices Like Nvidia, Wall Street forecasts opportunities for Advanced Micro Devices in the near future. Shares of the chipmaker surged 10% before the bell on the heels of Nvidia’s blockbuster report. Like its competitor, AMD creates graphics processing units underpinning most generative AI tools. Even big investors have amped up their bets on this AI play in recent weeks, with securities filings released earlier this month showing that Dan Loeb’s Third Point took a sizeable stake in the company during the first quarter. In a March note to clients, Raymond James called AMD the “underappreciated play on AI/ML,” saying that it expects continued share gains from the company through yearend. Taiwan Semiconductor Taiwan Semiconductor Manufacturing could also gain big as it rides on the coattails of Nvidia. Bank of America analyst Brad Lin highlighted the chip supplier as a “key beneficiary” in a Thursday note to clients, adding that shares also look attractive and toward the low-end of their historical range. Lin projects that Nvidia alone accounts for about 10% of the company’s revenues. TSM YTD mountain Shares in 2023 Like Bank of America, Needham highlighted the stock’s cheap valuation, saying that the market is failing to give the stock the “credit it deserves” for its “unique” AI position. “TSMC’s pole position in semiconductor fabrication makes the company the only practical foundry, in our opinion, to manufacture the most advanced chips such as AI accelerators,” the firm wrote. Needham also believes that Taiwan Semiconductor’s capabilities offer a “shortcut” for companies big and small looking to get into the competitive AI chip market. Shares gained about 7% before the bell, building on its 21% jump this year. Under-the-radar plays Not every company situated to benefit is well known by the investing community. In a recent note to clients, Needham highlighted Monolithic Power Systems as an under-the-radar company responsible for providing power management solutions for Nvidia’s H100 graphics processing units and an “incumbent” in the space. As H100 demand surges with expanding AI needs, Monolithic should experience substantial growth, Needham said. Its new delivery systems to help reduce power delivery network losses should also benefit shares over the long-run. Shares surged nearly 8% in premarket trading. Needham also highlighted Marvell Technology as a potential AI-winner. The company, responsible for providing silicon for data center and hyperscaler networking, should benefit as the need for faster bandwidth speeds to store and process data grows. AI also plays into the company’s “sweet spot,” the firm said. “In general, MRVL should benefit from overall growth in AI/ML and the cloud, and we believe the company will continue to be a leader in the data center silicon segment,” analysts wrote. Elsewhere, Bank of America called Broadcom earlier this week one of the “most underappreciated” AI plays on the heels of its chip deal with Apple , and hiked his price target on shares. AVGO YTD mountain Broadcom shares in 2023 “We reiterate Buy on AVGO on this improved certainty, and separately on its highly underappreciated/overlooked position as a leading provider of custom AI computing and switching silicon,” wrote analyst Vivek Arya. So far this year, the stock’s gained more than 21% and added an additional 2% before the bell. — CNBC’s Michael Bloom contributed reporting