Big tech stocks have had a mixed year, with Microsoft and Meta underperforming among the “Magnificent Seven,” while lesser-known tech companies are gaining traction. Notably, three under-the-radar stocks—Iren, MaxLinear, and Innodata—have outperformed the Nasdaq Composite and show promise for continued growth. Iren, a neocloud provider, has secured significant contracts with Microsoft and Nvidia, positioning it to generate substantial recurring revenue from its AI data centers.

MaxLinear is capitalizing on its optical interconnect technology, which enhances data transfer for AI infrastructure, reporting impressive revenue growth and projecting a multi-year growth phase. Meanwhile, Innodata is diversifying its customer base and expects significant revenue growth from a new deal with a major tech company, indicating strong demand for its data engineering services.

For market professionals, these companies represent potential investment opportunities in the burgeoning AI sector, highlighting the importance of looking beyond established names to identify high-growth prospects.

Source: fool.com