The next group of stocks in economic supercluster already emerged in the form of the so-called ‘Magnificent 7’ stocks. That group includes Apple (NASDAQ:AAPL), Amazon (NASDAQ:AMZN), Alphabet (NASDAQ:GOOG GOOGL), Microsoft (NASDAQ:MSFT), Meta Platforms (NASDAQ:META), Nvidia (NASDAQ:NVDA), and Tesla (NASDAQ:TSLA). However, it’s also important to recognize that investors are beginning to pull back on those stocks on valuation concerns. Still, there are other stocks in economic supercluster we can also check out, including:

Stocks in Economic Supercluster: Advanced Micro Devices (AMD)

Advanced Micro Devices (NASDAQ:AMD) is chief among stocks deserving of investor attention right now. It basically trades in parallel with Nvidia. The two stocks are interconnected and conversation about one conjures up the other. 

Nvidia has nearly tripled in 2023 thanks to the AI story. After all, Nvidia’s chips are powering the AI boom. Plus, demand for its GPUs is outstripping supply — an ideal situation for the company. Meanwhile, AMD is telegraphing a big push into AI servers and AI data centers. In addition, AMD chips power more than 100 of the world’s fastest supercomputers. 

The opportunity for AMD I clear. And I’d argue that over the coming weeks and months, more eyes will be on AMD. In fact, AMD shares are currently showing bigger daily returns than NVDA at the moment.

Stocks in Economic Supercluster: Broadcom (AVGO)

Investors should remain acutely aware of Broadcom (NASDAQ:AVGO) in relation to the AI stock boom. The company is a name to know when it comes to large-scale data centers and AI/ML. Broadcom refers to that portion of its business as hyperscale, showcasing its offerings and ability late last year at an industry summit. 

Broadcom’s software solutions in the hyperscale data center realm will make it relevant in this new era. Investors know that Nvidia is winning the chip war certainly. But it’s also important to understand that artificial intelligence and machine learning touch so many other firms outside of chips alone. Broadcom is one of them. 

Broadcom is also making strides in 5G, another secular trend and opportunity. The company recently announced a multi-year, multi-billion-dollar deal with Apple to provide it with 5G components. In short, AVGO stock is one to be aware of for investors seeking firms entrenched in future tech growth. 

ASML (ASML)

ASML (NASDAQ:ASML) reminds me of Taiwan Semiconductor Manufacturing (NYSE:TSM) in that both firms and stocks are relatively unheralded yet vitally important to the semiconductor industry. Taiwan Semiconductor Manufacturing acts as a chip foundry for the world’s biggest chip companies. It makes chips that no other firm can. ASML makes EUV lithography machines that enable the mass production of those chips and others. Both companies are integral to the world’s economy and do what others can’t. 

AI/ML chips are going to require a greater number of smaller and smaller transistors to be packed onto chips. ASML’s lithography machines are going to produce those chips. The company sold 100 such machines during the first quarter, 96 of which were new. That was less than the 106 sold during the same period a year earlier although only 95 of those were new. However, revenues were higher suggesting ASML was able to pass on higher prices to customers.  A Google search reveals wildly varying prices for those machines ranging from $150 million a piece to $400 million for next-generation iterations. 

Palantir (PLTR)

Palantir (NYSE:PLTR) stock may or may not be a part of the next ‘economic supercluster’. Nevertheless, it remains worth understanding if only to show how AI is being adopted across every industry. Palantir is a software firm so it’s to be expected that AI will directly affect the firm. It primarily services the defense industry and is one of the most prominent firms bringing Silicon Valley tech know-how and applying it to the U.S. defense industry. 

Surely you can see where I’m going with this: The defense industry is a vital component of the U.S. economy and AI promises to drive its future growth. Palantir’s AIP (Artificial Intelligence Platform) is geared toward business and defense. It’s the latter that arguably makes the company especially exciting now. 

I’ve linked a video for readers interested in what that software is capable of. It produces multiple courses of action for leadership given a specific scenario. The data ingested through AI will make war planning multiple times more thorough than it was previously. Palantir is on the cusp of a massive opportunity. 

Albemarle (ALB)

Albemarle (NYSE:ALB) benefits from the critical mass of EV adoption. Data suggests that once 5% of new car sales are EVs that an intractable paradigm is reached.  That paradigm is mass adoption. The U.S. reached that level last summer. Thus, the rush to supply that growth is already well underway. That’s where lithium supplier Albemarle fits in. The stock caught fire over the last few years as EV sales have boomed. Then lithium prices skyrocketed late last year due to multiple factors making the company more prominent. Those prices have fluctuated since but Albemarle’s fundamentals continue to strengthen. 

Tesla is the most prominent stock name in EV stocks. It is part of the so-called Magnificent 7. Albemarle, though, is a great name to consider beyond TSLA shares. The company has emerged as one of the most important links in the domestic EV supply chain. It’s a great play on EVs overall. 

Ford Motor (F)

Ford Motor (NYSE:F) and other legacy automotive manufacturers are vying to be a part of the EV transition. Ford’s size and resources are going to allow the firm to become a major force in EVs moving forward. Tesla proved the concept, legacy makers are going to take advantage moving forward. 

Its efforts thus far have resulted in losses. $6 billion worth of losses to be more precise since 2021 $2.1 billion of which occurred last year. The positive news is that Ford expects its first-generation EVs to reach breakeven at some point this year. It is fine-tuning what is an upstart business within a much larger overall business. That’s laudable. Further, although momentum has slowed, EV sales growth reached 41% in Q1. 

The point here is that legacy automobile manufacturers are making a real push into EVs that is consequential. Ford is catching up to Tesla as we speak and in time, perhaps by 2025, will overtake Tesla in EV sales. 

SolarEdge (SEDG)

SolarEdge (NASDAQ:SEDG) is a leading seller of solar inverters. Solar energy is part of the new economy and that makes SEDG stock important. 

Solar inverters transform the direct current energy captured by solar panels into alternating current energy that can be used in homes that are wired for AC energy. Inverters might not spring to mind as solar panels do but they are equally important nonetheless. SolarEdge has established itself as an important firm in the new energy economy. 2.78 million homes were equipped with the firm’s technology at the end of 2022. 50% of Fortune 100 companies could boast the same on that date. 

Q1 earnings were exceptionally strong with a record $944 million in sales. In fact, SolarEdge set all kinds of company records in the quarter. I won’t bore you by listing them but they point to strength. Solar power will in time become similar to the utility sector and produce very steady, strong stocks. SEDG shares will be among them.  

On the date of publication, Alex Sirois did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.