Core Viewpoint - The AI boom is benefiting the economy and investor portfolios, but popular stocks appear expensive, leading to a search for overlooked opportunities in smaller AI stocks [1] Group 1: Investment Opportunities - UBS managing director Tim Arcuri identifies several under-the-radar AI stocks that are gaining attention, including Micron, Lam Research, and Terydyne [2][8][10] - Micron, a memory storage device manufacturer, is expected to experience growth as it stabilizes its business model away from cyclical trends, despite a weak chip demand forecast [3][4] - Lam Research, a semiconductor equipment producer, is favored by Arcuri due to its strong share price rally and potential benefits from a weaker US dollar in 2025 [8] - Terydyne, which produces automated test equipment for semiconductors, is positioned to play a crucial role in the next phase of the AI boom, with limited competition in its niche [10] Group 2: Market Dynamics - The demand for computing power driven by AI hyperscalers is expected to surge, leading to significant increases in required compute and memory capacity [9] - Arcuri emphasizes the substantial financial implications of this demand, suggesting that the market may not fully grasp the scale of investment needed in semiconductor equipment [9]