The launch of OpenAI's ChatGPT in November 2022 triggered a boom in artificial intelligence (AI), with countless tech firms pivoting their businesses toward the budding industry.

According to Grand View Research, the AI market is projected to expand at a compound annual growth rate of 37% through 2030. That trajectory would see the sector exceed a value of $1 trillion before the end of the decade, suggesting there's no better time than the present to invest in AI-minded companies.

(NASDAQ: MSFT) and Amazon (NASDAQ: AMZN) are two attractive options, with both companies investing heavily in the market and active in one of the biggest growth areas of AI: cloud computing. These companies have emerged as some of the biggest threats in the industry and could deliver significant gains over the long term.

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Source Fool.com