While 2023 saw some artificial intelligence (AI) companies skyrocket, there will be plenty more that see their stocks rise in 2024. One of the critical industries to watch is cloud computing, as these servers are needed for two reasons. First, they can provide the impressive computing power needed to create AI models. Second, these servers can also store the massive amount of data needed to feed these models.

Two of the biggest players in this space are Amazon (NASDAQ: AMZN) and Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL). While each stock had a strong 2023, the tailwinds provided by their exposure to cloud computing will push them much higher in 2024.

Amazon last split its stock in June 2022, when each share turned into 20. With the stock trading around $145, we're likely a long way off from another stock split, but after a strong year, management may consider it.

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Source Fool.com