Semiconductor service companies will be critical to the artificial intelligence boom, but they don't attract as much attention from investors as chipmakers like Nvidia.

A Once-in-a-Decade Investment Opportunity: 1 Artificial Intelligence (AI) Semiconductor Stock to Buy Hand Over Fist Right Now (Hint: It's Not Nvidia)

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.

On the other end of the spectrum is an outrageously expensive company that's been touting its AI ties over the last year, but ultimately derives little of its valuation from artificial intelligence. The stock to avoid like the plague in September is none other than MicroStrategy ( MSTR -4.41%).