Could Snowflake Stock Help You Become a Millionaire?
Everyone wants life-changing investments. Of course, they're not easy to find. Legendary investor Peter Lynch once compared investing to turning over rocks, believing the person who turned over the most won. Lynch's analogy was just another way of emphasizing the importance of diversifying your portfolio. Another investing tip Lynch emphasized was that winning stocks generally have things in common.
A massive runway for many years of growth is one such commonality. Data platform Snowflake (NYSE: SNOW) scores well in that regard. The company is a behind-the-scenes cog of an artificial intelligence (AI) revolution that could create dramatic wealth for people over the coming years. Let me explain.
Most AI models need two primary ingredients: computing power and data to analyze. Snowflake is a cloud-based platform offering data storage and analytics. Data is vital in developing a robust AI model, but most companies don't know how to organize, secure, or analyze the mounds of data they gather from their operations. It's often gathered in multiple formats and/or stored on multiple systems that don't always sync well.
Source Fool.com
