And this stock is Super Micro Computer ( SMCI 0.07%), a company that saw its stock price soar 188% in the first half, surpassing Nvidia's 149% increase. Though individual forecasts vary, the average Wall Street estimate calls for the stock to climb 90% from today's level.

Plenty of AI stocks trade down from their recent peaks, and the Nasdaq Composite, the tech-heavy index, hit an intraday peak on July 11. The index is down 5.5% from that peak after a recent recovery. Similarly, the VanEck Semiconductor ETF, which is led by the chip stocks that are key in the AI rally, is down 18% from its peak on the same day.

The artificial intelligence (AI) revolution is just heating up. To raise the stakes in this race, most tech companies with the necessary capital and resources have integrated AI into their existing products or developed new ones.

Nvidia stock has soared due to rising demand for AI components. But there's a smaller AI company that could have even more upside. SoundHound has great potential, but also poses some risks, too. Like Nvidia?