Micron and Nvidia continue to make headlines, but one tiny AI stock has drastically outperformed them both in terms of growth in 2026.
Netlist (OTC: NLST) has more than quintupled year to date, and its rally looks far from over
Its hardware sales have been surging in recent quarters, and its recent legal wins point to the end of a decade-long battle against tech giants. The hardware component Netlist earned $109.8 million in its second quarter, a 163% year-over-year increase. Net income also flipped from a $6.1 million net loss in Q2 2025 to $1.4 million in net profits in the recent quarter.
Netlist makes most of its revenue by reselling hardware, but it is also developing CXL solutions that could become a major growth driver in the future. Fortune Business Insights projects a 54.48% compound annual growth rate for CXL memory products through 2034. Netlist is already making money from its DDR5 memory controllers, showing that its hardware revenue isn’t just from reselling.