2 Artificial Intelligence (AI) Stocks With Explosive Potential
The elevated interest in artificial intelligence (AI) this past year resulted in elevated stock prices for companies positioned to take advantage of this fast-growing and potentially lucrative technology. Did I say lucrative? AI is expected to contribute $15.7 trillion to the global economy by 2030, according to a forecast by PwC.
One big beneficiary was Nvidia (NASDAQ: NVDA) which saw share prices more than triple so far in 2023. The chipmaker provides critical hardware required to train AI models and run inference applications. Meanwhile, share prices of Palantir Technologies (NYSE: PLTR) also took off this year thanks to the AI hype, surging by nearly 159%.
But don't worry too much about missing out. Both these stocks have a lot of room and great potential to rise higher in the long run as they take advantage of multibillion-dollar niches in the AI realm.
Source Fool.com
