The first wave of AI stocks — including chipmakers like Nvidia and Broadcom, as well as hyperscalers like Microsoft, Meta, and Amazon — may all still be great buys.

But there’s no mistaking the high expectations that investors are placing on these household names going forward. Plus, the uber-explosive earnings growth for names like Nvidia may soon start to slow, as the company told investors in its recent earnings call.

So if you missed their run-ups in the market, you might be feeling like you missed the boat on the AI trade. (To be fair, you probably didn’t miss out entirely — these companies have huge exposures in the S&P 500 and Nasdaq 100, meaning most index investors already have some fairly sizeable positions in the AI giants.)

But if you’re looking for some overlooked AI firms, there are still plenty of opportunities out there, according to Que Nguyen, the CIO at Research Affiliates, and Brian Mulberry, a senior portfolio manager at Zacks Investment Management.

In recent interviews with Business Insider, the duo shared some of their preferred non-mega-cap AI stocks right now.

For Nguyen’s part, she said to look to stocks like Western Digital (WDC), Seagate Technologies (STX), Hewlett Packard Enterprise (HPE), and Micron Technology (MU) — all data storage providers.

“One of the things that I see is AI is spreading and benefiting an entire ecosystem of technology companies,” Nguyen said. “So you look at even boring companies like hard disk companies — in order to have AI you need to be able to store a lot of data and get it quickly, right?”

“None of these companies is nearly as expensive as the Mag 7,” she continued. “Don’t just stick with the Mag 7, or Nvidia and AMD. Look more broadly — own something diversified. You have no idea where the next killer app is going to come, or where the next big investment theme is going to be.”

Some examples of diversified products offering specific AI and tech stocks expsoure include the Global X Artificial Intelligence & Technology ETF (AIQ) and the iShares AI Adopters & Applications UCITS ETF (AIAA).

Meanwhile, Mulberry said he likes stocks like Amphenol (APH) and Emcor (EME).

Both are hardware providers, and are raking in money from hyperscalers as they spend hundreds of billions to build out their AI data centers, Mulberry said. Consensus earnings estimates for both firms show growth in the next couple of years, he said.

“They’re simply benefiting from the actual dollars being spent without having to increase their own capex,” he said of the stocks.

He continued: “They’re very specialized electrical connectors, and they don’t have to do anything other than just show up and start helping build out data centers with their expertise.”

The global AI market is on a trajectory to grow from $371.71 billion in 2025 to $2,407.02 billion by 2032, driven by demand for practical, accessible technologies in emerging economies [1]. TECNO, a brand under the TRANSSION umbrella, is uniquely positioned to capitalize on this growth. By embedding AI into a diverse ecosystem of smartphones, laptops, and wearable devices, TECNO is not merely following trends—it is redefining them for markets where affordability and localized innovation are paramount.

A Holistic AI Ecosystem for Emerging Markets

TECNO’s strategy hinges on democratizing AI through hardware and software integration. At MWC Barcelona 2025, the company unveiled the CAMON 40 Series smartphones, which feature AI-enhanced photography and multilingual translation capabilities powered by TECNO AI and MediaTek chipsets [2]. These devices are tailored for price-sensitive consumers who demand functionality without premium price tags. The MEGABOOK S14, the world’s lightest 14-inch OLED laptop, further exemplifies this approach. Packed with Qualcomm’s Snapdragon X Elite platform and TECNO’s edge-side AI model, it offers AI-driven multitasking and gaming, bridging the gap between productivity and entertainment [3].

The TECNO AI Glasses Series, including the AI Glasses Pro, adds another layer to this ecosystem. With real-time translation in over 100 languages and a mobile-grade imaging system, these glasses address communication barriers in multilingual regions like Africa and Southeast Asia [4]. By designing AI tools that solve immediate, tangible problems—such as language translation and image enhancement—TECNO is fostering loyalty in markets where Western tech giants often overlook local needs.

Strategic Partnerships and Scalability

TECNO’s partnerships with MediaTek, Qualcomm, and Google Cloud underscore its commitment to scalable AI innovation. These collaborations ensure access to cutting-edge chipsets and cloud infrastructure, enabling TECNO to deliver high-performance devices without compromising on cost [5]. For instance, the MEGABOOK S16 AI PC, introduced at COMPUTEX 2025, combines Intel’s Core i9-13900HK processor with TECNO’s self-developed edge-side AI model, offering advanced features like AI PPT creation and real-time meeting transcription [6]. Such products position TECNO as a challenger to global brands by proving that AI-driven productivity tools need not be exclusive to high-income markets.

Market Dominance and Future Potential

TECNO’s dominance in Nigeria—where it holds 23% of the market—is a testament to its localized approach [7]. By prioritizing features like offline AI translation and low-power consumption, the company has outpaced competitors in regions with inconsistent internet access. Its global market share of 9% [8] is not just a statistic; it represents a network of users who rely on TECNO’s ecosystem for daily tasks, from business communication to education.

As AI becomes a cornerstone of economic development in emerging markets, TECNO’s ecosystem is poised for exponential growth. The company’s ability to integrate AI across devices—from smartphones to smartwatches—creates a sticky user experience that rivals even Apple’s ecosystem. Moreover, its focus on edge-side AI models reduces dependency on cloud infrastructure, a critical advantage in regions with limited connectivity.

Conclusion

TECNO’s AI-driven ecosystem is more than a collection of products; it is a blueprint for how technology can be made inclusive. By addressing the specific needs of emerging markets, TECNO is not only disrupting consumer tech but also reshaping the AI landscape. For investors, the company represents a rare opportunity: a scalable, innovation-led business with a clear path to global relevance. As the AI market expands, TECNO’s localized, practical approach will likely outpace competitors who fail to adapt to the realities of the 90% of the world that lies beyond Silicon Valley.

Source:
[1] AI Ecosystem Analysis 2025-2032: Recent Developments [https://www.openpr.com/news/4114909/ai-ecosystem-analysis-2025-2032-recent-developments]
[2] TECNO Showcases Next-Gen AI Ecosystem Products at MWC Barcelona 2025 [https://finance.yahoo.com/news/tecno-showcases-next-gen-ai-092200910.html]
[3] TECNO Showcases Next-Gen AI Ecosystem Products at MWC [https://www.taxtmi.com/news?id=36191]
[4] TECNO Launches CAMON 40 Series, MEGABOOK S14, and AI Glasses at MWC 2025 [https://www.taxtmi.com/news?id=36191]
[5] Create the AI Future: TECNO Unveils Next-Gen AI Ecosystem at MWC Barcelona 2025 [https://www.prnewswire.com/news-releases/create-the-ai-future-tecno-unveils-next-gen-ai-ecosystem-at-mwc-barcelona-2025-302390450.html]
[6] Mega Leap with AI: TECNO Showcases Next-Gen AI PCs and AI Product Ecosystem Innovations at COMPUTEX 2025 [https://www.prnewswire.com/news-releases/mega-leap-with-ai-tecno-showcases-next-gen-ai-pcs-and-ai-product-ecosystem-innovations-at-computex-2025-302459931.html]
[7] 2025 Techno Phone Trends: AI Integration & Market [https://www.accio.com/business/trend-of-latest-techno-phones]
[8] Tecno Mobile, through its parent company TRANSSION, holds 9% global market share [https://www.accio.com/business/trend-of-latest-techno-phones]

Moscow State University named after M. V. Lomonosov (MSU) has established a faculty of artificial intelligence. Preparations are underway for the first student intake, announced the institution’s rector, Viktor Sadovnichy, to journalists.

MSU hosts a Research Center in the field of artificial intelligence, an AI Institute, and the ‘Intellect’ fund.

“The new faculty will integrate all these elements into a single system, ensuring comprehensive training for this field and promoting broader implementation of neural networks in various research areas. The first student intake will take place next year,” clarified the MSU press service.

On September 1, 2023, the university launched the MSU-270 supercomputer, aimed at the development of AI systems and research using the technology.

Earlier, it was revealed that Russia does not plan to introduce AI regulation in the next two years.

Back in December 2024, Russia created a virtual assistant based on AI for psychologists, which doubles productivity, service quality, and revenue.

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