The artificial intelligence (AI) market has grown rapidly over the past few years as companies developed new algorithms to analyze data more efficiently. The rise of generative AI platforms like OpenAI's ChatGPT has also been driving companies to explore new ways to create content, automate tasks, and replace human workers.

According to Grand View Research, the global AI market could still expand at a compound annual growth rate (CAGR) of 36.6% from 2024 to 2030. That's why many AI-driven stocks -- including Nvidia (NASDAQ: NVDA), Super Micro Computer (NASDAQ: SMCI), and Meta Platforms (NASDAQ: META) -- rallied over the past year.

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Source Fool.com