Despite the stock market's rally over the last year, there are still promising companies that trade at massive discounts compared to previous highs. With the artificial intelligence (AI) revolution just starting to unfold and expectations that the Federal Reserve might cut interest rates this year, investors who back the right beaten-down stocks in 2024 could score fantastic returns.

If you're on the hunt for AI-focused growth stocks trading at a discount, read on to see why building long-term investment positions in Palantir Technologies (NYSE: PLTR) and Array Technologies (NASDAQ: ARRY) looks like a smart move right now.

Palantir made its name providing counter-terrorism analytics for the U.S. government, and it continues to provide services in the space, but it's also branched out to provide services to businesses. Last May, the company launched its Artificial Intelligence Platform (AIP) -- a new software suite designed to help companies and institutions run their organizations with the benefit of real-time AI insights. The new platform is catching on at an impressive rate.

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Source Fool.com