The rise of artificial intelligence (AI) has been a significant part of recent technological advancements, impacting various aspects of our lives, from healthcare and finance to transportation and entertainment. Investing in AI stocks could potentially deliver high returns as the market continues to grow.
The Growing AI Market
According to a report by Allied Market Research, the global AI market size was valued at $37.1 billion in 2018 and is expected to reach $309.6 billion by 2028, growing at a CAGR of 36.2% from 2019 to 2028.
NVIDIA Corporation (NVDA)
NVIDIA Corporation is a leading company in the AI industry, specializing in graphics processing units (GPUs) and AI technologies. Leveraging its expertise in graphics and computing, NVIDIA has become a key player in providing the requisite infrastructure for AI and deep learning applications.
NVIDIA’s AI Potential
NVIDIA’s Data Center Platform is designed for AI, data science, high-performance computing (HPC), and virtualization, making it an essential tool for businesses looking to integrate AI into their operations. NVIDIA’s platform is employed by major corporations such as Amazon Web Services, Microsoft, Alibaba, and Microsoft Azure.
Alphabet Inc. (GOOGL)
Another promising AI stock to consider is Alphabet Inc., the parent company of Google. Google is heavily investing in AI to improve its search engine results, advertising, and other services such as Google Assistant, Google Cloud, and self-driving cars.
Alphabet’s AI Strides
One of Google’s major advancements in AI is its DeepMind project, which made headlines for its achievement in teaching machines to play games as well as humans and even surpass their capabilities. Alphabet’s investment in AI is vast, and the company continually strives to increase its presence in the AI market.
Investing in the AI Revolution
As Artificial Intelligence continues to revolutionize industries, investors can tap into this growing market by considering stocks like NVIDIA Corporation and Alphabet Inc. It’s essential to conduct thorough research and assess your risk tolerance before making any investment decisions. Remember to diversify your portfolio to minimize potential losses.