The AI boom still has a long way to go, and any of these three stocks offer a great way to invest in the long-term potential.

Despite playing active and lucrative parts in the artificial intelligence (AI) boom, Advanced Micro Devices (NASDAQ: AMD) and Micron Technology (NASDAQ: MU) are trading more than 30% below their peak prices.

Nvidia ( NVDA -3.26%) first disclosed a stake in fellow semiconductor company Arm Holdings ( ARM -5.59%) in the fourth quarter of 2023. The position was valued at $147 million at the time, but a recently filed Form 13F shows the position is now worth more than $280 million and accounts for about 65% of Nvidia's $433 million stock portfolio.

Investors looking to buy a potential AI winner trading at a reasonable valuation should consider taking a closer look at this company.