Nvidia is the king of artificial intelligence (AI) investing and has delivered significant returns for investors over the long and short terms. In 2026, Nvidia's stock is up about 15%. While that's not bad, other stocks are absolutely crushing Nvidia's returns, and could do so for the foreseeable future.
Three stocks outperforming Nvidia are Nebius (NBIS +3.31%), Micron Technology (MU 4.91%), and Taiwan Semiconductor Manufacturing (TSM +1.83%). But can they keep it up?
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Nebius
Nebius and Micron are the top performers of this trio. Nebius has risen about 149%, while Micron is up around 225% in 2026. Those are incredible returns in just five months, but there is still plenty to go.
Nebius is a neocloud company that is focused on AI cloud computing. There is a huge demand for its full-stack computing platform, and its growth rate displays that trend. In the first quarter, revenue skyrocketed 684% year over year. That's not an error or a one-time boost thanks to an acquisition. There's real demand for its products, and Nebius believes it can reach an annual run rate of $7 billion to $9 billion by the end of this year, up from $1.25 billion in 2025.
NASDAQ: NBIS
Key Data Points
While Nebius hasn't announced 2027 guidance, Wall Street analysts expect its revenue to more than triple again in 2027. That's incredible, and companies that are growing that fast often see their stocks respond in kind, so I wouldn't be surprised to see Nebius outperform Nvidia throughout the rest of 2026 and beyond.
Micron
Micron makes memory chips, which are in short supply. The massive number of GPUs hitting the market requires a ton of memory chips, so Micron is seeing demand skyrocket. However, supply hasn't caught up yet, so this chip crunch is weighing heavily on prices. This is causing Micron's revenue to skyrocket, and its stock price is following.
NASDAQ: MU
Key Data Points
This isn't expected to slow down anytime soon, as Micron expects the total addressable market for its high-bandwidth memory chips to soar from $35 billion in 2025 to $100 billion by 2028. That will keep memory chip prices elevated for some time, allowing Micron to cash in.
Right now, Micron's stock trades for a cheap 16 times forward earnings, but that's because it's a cyclical company. However, it could continue to trade at a normal tech stock valuation if the memory chip rally continues, which could lead to further upside.
NYSE: TSM
Key Data Points
Taiwan Semiconductor
Taiwan Semiconductor may seem like an ironic inclusion in this list. It has more than doubled Nvidia's performance, rising about 33% this year. What's notable about Taiwan Semiconductor's rise is that it's Nvidia's logic chip manufacturer, but it also makes logic chips for some of Nvidia's competition.
That places Taiwan Semiconductor in a neutral position to take advantage of the rising tide of increased AI chip demand, but it may have gotten a bit out of hand. After Taiwan Semiconductor's stellar start to 2026, it's more expensive than Nvidia despite its slower growth rate.
NVDA Revenue (Quarterly YoY Growth) data by YCharts
I don't expect that mismatch to last forever, and it could indicate that Nvidia will see a relatively strong rally to end 2026. I wouldn't be surprised by that at all, as Nvidia tends to have a stronger second half of the year versus the first half. So, all three of these companies need to celebrate their wins now because Nvidia is coming. While it may surpass the performance of Taiwan Semiconductor, I still think it will have a hard time catching up to Nebius and Micron, which have at least doubled so far in 2026.
