Nvidia Competitors: Exploring AI Chip Alternatives

Nvidia is a household name in the AI space — and for good reason.

Its graphics processing units (GPUs) are widely considered the gold standard for powering artificial intelligence applications, from data centres to self-driving cars. In 2024 alone, Nvidia’s stock nearly tripled in value, thanks to explosive demand for high-performance AI chips used in systems like ChatGPT and Gemini.

But while Nvidia may dominate, it’s not without challengers. In fact, the market for AI chips is evolving rapidly, and a growing number of Nvidia competitors are gaining traction. From legacy rivals like AMD and Intel to tech giants developing proprietary chips, the competitive landscape is heating up.

In this guide, we’ll explore who Nvidia’s biggest competitors are, what makes these rivals stand out, how Singaporean investors can invest in the AI boom and whether they should consider it in the first place.

While Nvidia currently dominates the AI chip market with an estimated 80%+ market share in the GPU segment, it isn’t without rivals. Competitors like AMD and Intel also hold some market share.

Advanced Micro Devices (AMD)

Before GPUs became synonymous with training large language models and powering cloud-based AI infrastructure, they were largely used in gaming PCs and consoles. AMD, alongside Nvidia, was a key player in that original GPU race.

Over time, AMD has grown into a formidable Nvidia rival, particularly with its pivot toward enterprise computing. Today, its Instinct series — particularly the MI300X AI accelerator — is designed to handle complex workloads for training and deploying large-scale AI models. Major tech companies including Microsoft, Meta, and OpenAI began integrating AMD’s chips into new AI infrastructure, signalling growing confidence in the brand’s ability to deliver performance at scale.

If you're based in Singapore and interested in investing in AMD, the process is pretty straightforward via brokers that offer access to US markets. Look into platforms like Saxo, Moomoo SG, or Tiger Brokers to get started with building AI exposure through AMD.

Intel is arguably the most recognisable name in consumer computing, powering countless desktops and laptops with its signature processors. But when it comes to the AI chip space, Intel is a relatively new entrant compared to Nvidia and AMD.

The company began ramping up its AI ambitions in recent years, launching its first dedicated AI chips and GPUs in 2022. However, it has yet to gain significant market traction. 

Still, Intel shouldn't be written off. Its vast infrastructure, decades of hardware expertise, and deep R&D pipeline give it a solid foundation to grow. For interested Singapore investors, Intel shares are accessible through US brokerage accounts available on platforms like Moomoo SG, Interactive Brokers, and Saxo.

While Nvidia, AMD, and Intel dominate the AI chip landscape today, they’re not the only players shaping the future of artificial intelligence. A number of big tech firms have been building their own custom AI chips in-house. These companies just aren’t traditional chip manufacturers, and their AI hardware rarely reaches the open market. Instead, these chips are typically used to power their own AI products and services — think data centre workloads, generative AI platforms, and mobile applications. These notable chipmakers include:

• Alphabet (GOOG)

• Amazon (AMZN)

• Apple (AAPL)

• IBM (IBM)

• Microsoft (MSFT)

• Qualcomm (QCOM)

Although these companies take up a sliver of the AI chip market — if any — it’s mainly because their chips are designed for internal use. Rather than selling hardware commercially, they develop custom silicon to optimise their own AI tools, platforms, and ecosystems.

For instance, Microsoft is a key backer of OpenAI, the creators of ChatGPT, and recently debuted its in-house Maia AI chips to power Azure’s cloud AI services. Amazon, meanwhile, supports Anthropic (creator of Claude) and deploys its proprietary Trainium and Inferentia chips to enhance AWS offerings. Alphabet produces TPUs to train and run Gemini, its ChatGPT competitor.

Nvidia may be the clear frontrunner in the AI chip race, but it’s far from the only player.

Nvidia competitors like AMD and Intel are pushing hard to gain market share, while giants like Alphabet, Amazon, and Microsoft are building custom chips for in-house AI systems. As AI becomes increasingly critical across sectors, demand for specialised chips is likely to surge — and so will investor interest.

For investors in Singapore, gaining exposure is relatively easy through regulated brokerage platforms or diversified ETFs. With careful research and a long-term view, investing in Nvidia’s biggest competitors could add valuable diversification to your portfolio.

Staying informed about shifts in chip technology and company performance will be key to navigating the rapidly evolving AI landscape.

>> MORE: How to buy, trade and invest in stocks in Singapore

Back to top