Tech stock selloff reverses as AI growth accelerates — AMD, Broadcom, and Micron poised to gain from shift to inference, custom chips, and memory demand

The 'Great Rotation' away from tech and AI stocks has faded, signaling renewed investor confidence in growth equities. Three companies are positioned to benefit: AMD (up 13.85%) from its leadership in data center CPUs and upcoming MI450 GPU for inference workloads; Broadcom (up 0.62%) from a $21 billion chip order from Anthropic and a projected $100 billion in AI chip revenue by fiscal 2027; and Micron Technology (up 3.11%) from surging demand for high-bandwidth memory (HBM) used in AI chips.

The next phase of AI is shifting from model training to inference (the step where an AI produces an answer) and AI agents (AIs that decide actions on their own). AMD's new CPU designs are built specifically for agentic AI, which requires a tighter CPU-to-GPU ratio in data centers. Broadcom is supplying custom chips (ASICs) to Anthropic, OpenAI, and Alphabet's TPU program, reducing reliance on Nvidia. Micron benefits because HBM memory requires 3 times the manufacturing capacity of ordinary DRAM, creating a supply bottleneck that locks in pricing power.

For business professionals and investors, these stocks offer exposure to the infrastructure layer beneath AI services — the chips and memory that power the systems companies like OpenAI and Google rely on. Unlike consumer AI products that face uncertain adoption, demand for these components is directly tied to hyperscaler spending, which continues to accelerate. Micron trades at a forward P/E of only 4.5 based on fiscal 2027 estimates, while Broadcom projects 5x revenue growth in AI chips alone by fiscal 2027.