The Top Artificial Intelligence (AI) Stock to Buy in 2024, According to Certain Wall Street Analysts -- Surprise! It's Not Nvidia
There's little question that Nvidia has been the early winner in the race to adopt artificial intelligence (AI). The company's graphics processing units (GPUs) have proven remarkably adept at AI applications, thanks in part to their ability to conduct a multitude of mathematical computations simultaneously, thereby speeding the processing of AI models.
The demand for these chips has spread like wildfire, resulting in triple-digit year-over-year profit and revenue growth for Nvidia over the past three quarters. As a result, its shares have gained an incredible 500% since early 2023 (as of this writing).
Despite its early lead, there are those who believe that other AI stocks will have more staying power. One of the top picks among analysts is Amazon (NASDAQ: AMZN), and there's evidence that suggests the company will benefit from the growing adoption of generative AI for years to come.
Source Fool.com
