2 Artificial Intelligence (AI) Stocks That Could Go Parabolic
At the start of last year, interest in artificial intelligence (AI) skyrocketed. The launch of OpenAI's ChatGPT in the lead-up to 2023 reignited interest in the generative technology, highlighting just how far AI had advanced. Since then, it's felt like nearly every big company, whether involved in tech or not, has tried to cash in on the boom by integrating AI into its business. The onslaught of AI services has made it feel like a trend that is sure to fade.
However, earnings seasons kicked off last month, with many companies beginning to see significant gains from the market. The growth is consistent with data from Grand View Research, which shows the AI market hit nearly $200 billion in spending in 2023 and is expected to expand at a compound annual growth rate of 37% through 2030. For reference, these projections would see the industry hit a valuation nearing $2 trillion.
Forecasts indicate AI is here to stay, and it's not too late to invest in the industry and profit from its long-term development. Many companies have barely scratched the surface of the technology and still have plenty to offer new investors.
Source Fool.com
