While Nvidia (NVDA) continues dominating the AI chip market, investors seek additional opportunities in the rapidly evolving sector. Nvidia shares continue to fluctuate since reporting third quarter earnings that beat estimates but ultimately did not outpace Wall Street's high expectations.

Wedbush Securities managing director Matt Bryson highlights several promising AI-related investments beyond the semiconductor industry.

Bryson says that AI includes more than just chips, recommending server manufacturers like Super Micro Computer (SMCI) and Dell Technologies (DELL) as potential investment targets. For networking infrastructure critical to AI development, he spotlights Broadcom (AVGO) and Marvell Technology (MRVL). In the data center storage segment, he points to Western Digital (WDC) and Silicon Motion Technology (SIMO) as promising options.

Nonetheless, Bryson emphasizes that Nvidia is a frontrunner in this space: "It seems like they're taking their advantage in accelerators and transitioning that into owning more parts of the system, building compute, building networking, building software -- and all of those shifts lock Nvidia in."

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