Interest in artificial intelligence (AI) skyrocketed since OpenAI launched ChatGPT in November 2022. The industry is developing rapidly and is projected to expand at a compound annual growth rate of 37% until at least 2030. That trajectory would see the market hit close to $2 trillion before the end of the decade.

As a result, excitement over AI triggered countless tech stocks to soar over the last year. (NASDAQ: MSFT) has been one of the biggest winners, with its shares up 56% in the last 12 months. The company is one of OpenAI's largest investors, a position that affords Microsoft with exclusive access to some of the start-up's most advanced AI models.

The Windows company is an exciting way to invest in AI. However, companies at slightly earlier stages in their AI ventures could have more room to run over the long term. Advanced Micro Devices (NASDAQ: AMD) and Amazon (NASDAQ: AMZN) are two attractive options. One is carving out a lucrative role in the AI chip market, while the other is leading in the software side of the industry.

Continue reading

Source Fool.com