A Once-in-a-Decade Investment Opportunity: 1 Artificial Intelligence (AI) Growth Stock to Buy Now -- No, Not Nvidia
Hedge fund billionaire Dan Loeb compared artificial intelligence (AI) to the industrial revolution in a letter to clients written last year. The industrial revolution was a characterized by a dramatic increase in economic output as machines replaced human workers. AI promises a similar step-function increase in productivity across virtually every industry.
Loeb wrote, "We have watched AI evolve and believe the technology has matured to the point that it is driving a transformational technology platform shift similar to those seen roughly once per decade: the personal computer in the 1980s, internet in the 1990s, mobile in the 2000s, and cloud in the 2010s."
That puts investors in front of a big opportunity. The most prudent way to benefit is to own a basket of AI stocks. Many investors will naturally gravitate toward Nvidia (NASDAQ: NVDA), the company whose chips power the most advanced AI systems. But ServiceNow (NYSE: NOW) is a more compelling AI stock at its current price.
Source Fool.com
