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other data center stocksInsider Trading & Hedge Fund Data, and Investment Newsletter From Insider Monkey
•85% Informative
Microchip Technology Incorporated ( NASDAQ : MCHP ) is one of the 15 Best Data Center Stocks to Buy according to Jefferies , Citi and Wall Street Analysts.
By 2030 , AI is expected to grow data center power demand by as much as 160% .
Northern Virginia data centers are expected to require 11,000 megawatts of electricity annually by 2035 .
Microchip Technology Incorporated ( NASDAQ : MCHP ) sells microcontrollers, signal processors, and other associated products that are used in computing systems such as data centers.
Company's shares are down 11% year to date , despite its exposure to the AI industry.
Overall MCHP ranks 10th on our list of the best data center stocks to buy.
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