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Introduction

The AI Personal Computer (PC) market is set to explode in 2024 according to analysis by research firm Gartner, which says PC vendors will increase AI-enabled PC shipments from 10% of PC shipments in 2023 to 22% in 2024 and, according to the research firm, Canalys will rise at a 64% CAGR by 2027 and make up around 37% of all PCs shipped in 2025, 53% in 2026 and 60% in 2027.

What Are "AI-enabled PCs" and What Is Their Unique Selling Proposition (USP)?

“AI-enabled PCs” are personal computers outfitted with chips (neural processing units, or NPUs) capable of running large-language models and apps directly on the device, instead of the cloud, allowing for AI to be run locally on the computers themselves and being able to be used whenever and wherever – even without an internet connection.

Which Companies Have Or Will Be Launching AI PCs in 2024?

Below is what the major AI-capable PC manufacturers have in the works for introduction in 2024 or, in some cases, have already done so with their stock performances in February and YTD along with a description of their business focus, and their latest news, commentary and/or analysis.

1. Dell Technologies Inc. (DELL): UP 14.2% in February; UP 23.7% YTD
   • has a totally redesigned, and more powerful, AI-capable PC (see here) on the market already with AI acceleration built into the device thanks to Intel Core Ultra processors and experiences brought to life by Windows 11. 
   • latest news, commentary and/or analysis:
     • Dell Stock Jumps to Record High With Revenue Beat Driven by AI Momentum
2. Lenovo Group Limited (LNVGY): UP 5.1% in February; DOWN 21.3% YTD
   • unveiled a full lineup of more than 40 new devices and solutions powered by AI at CES 2024 in Las Vegas this past January (see here) but they are not yet on the market. 
   • latest news, commentary and/or analysis:
     • Lenovo's Cutting-Edge ThinkPad and ThinkBook Laptops Pave the Way for AI PC Innovation at MWC
3. Motorola Solutions Inc. (MSI): UP 3.4% in February; UP 5.5% YTD
   • introduced the next-generation of AI-powered gaming desktops last October featuring the 14th generation Intel processor (see here). 
   • latest news, commentary and/or analysis:
     • Motorola Solutions Declares Quarterly Dividend
4. HP, Inc. (HPQ): DOWN 1.3% in February; DOWN 5.8% YTD 
   • CEO and President Enrique Lores says (see here) that they will launch their AI PC  "in the middle of 2024, let's say in the July, August time frame" and projects that the penetration of the AI PCs will be between 40 and 60% three years after launch. 
   • latest news, commentary and/or analysis:
     • HP meets estimates and sees PC market stabilizing in 2024, but stock still falls
        

Summary

The stocks of the above 4 companies were, on average, UP 5.2% in February, and are now UP 6.2% YTD.

Conclusion

 If the AI PCs category does, in fact, rise at a CAGR 64% between now and 2027 then we can expect the AI-enabled PC revolution to really take off later in 2024 when all 4 players are fully participating.

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