Whether you're a casual investor or trade professionally, you're likely aware of the boom in artificial intelligence (AI) that kicked off last year. The launch of OpenAI's ChatGPT reignited interest in the technology, leading countless tech companies to pivot their businesses toward the high-growth sector.

As a result, the AI market is projected to expand at a compound annual growth rate of 37% through 2030, which will see it hit just under $2 trillion. The industry is expanding at a rapid pace, making it one of the best places to make a long-term investment.

Two stocks currently leading the way in AI are Advanced Micro Devices (NASDAQ: AMD) and Nvidia (NASDAQ: NVDA), with their shares recently up 149% and 257% respectively year over year. As prominent chipmakers, these companies supply the hardware necessary to train and run AI models. Their stocks could soar further in the coming years as the market develops.

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Source Fool.com