A boom in the artificial intelligence (AI) market at the start of 2023 kicked off just when tech stocks needed it most. Companies were dealing with the aftermath of an economic downturn the year before, which led the Nasdaq-100 Technology Sector to plunge 40% in 2022. However, the launch of OpenAI's ChatGPT seemed to breathe life back into the industry and reminded investors of the vast growth potential of tech stocks. As a result, the same index has soared 88% since Jan. 1, 2023.

Companies across tech have ventured into AI, an industry projected to hit close to $2 trillion in spending by the decade's end. The generative technology can potentially boost countless sectors as demand for AI services and the chips that make them possible soar.

Despite this explosion of growth in the past 18 months, it's not too late to invest in the market and profit from its long-term development. Here are two AI stocks to buy hand over fist in July.

Continue reading

Source Fool.com