Nvidia and other chip and hardware stocks are clear winners in the artificial-intelligence boom. Investors have flocked to utilities, which help provide the massive power needed for AI, as a secondary play. But there's another AI beneficiary: data centers.

J.P. Morgan analyst Richard Choe is bullish on Digital Realty Trust, DigitalBridge (a Barron's recommendation from February), and Equinix as data-center companies that stand to gain from the insatiable need for more space for digital infrastructure. Choe has an Outperform rating on all three stocks, and he boosted his price targets for the trio.