The growing adoption of artificial intelligence (AI) has sent shares of companies involved in the proliferation of this technology soaring over 16 months or so, with many names seeing a parabolic rise in their stock prices.

A parabolic move is a rapid rise in the share price of a company in a short amount of time, akin to the right side of a parabolic curve on a chart. Nvidia (NASDAQ: NVDA) is a classic example of this phenomenon. The graphics specialist has seen a parabolic rise in its stock price since the beginning of 2023, with its shares jumping a whopping 439% since then. Nvidia, however, is one of the many companies gaining from AI adoption.

Advanced Micro Devices (NASDAQ: AMD) and Palantir Technologies (NYSE: PLTR) are two more names that are capitalizing on AI. Let's look at the reasons why these two AI stocks could make a parabolic move.

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Source Fool.com