The S&P 500 index has rebounded sharply from its bear market lows as easing inflation, better-than-expected earnings, and enthusiasm surrounding artificial intelligence (AI) elevated investor sentiment in 2023. The benchmark index is now just 6% below its all-time high, putting it on the brink of a new bull market.

Ed Yardeni of Yardeni Research expects the S&P 500 to reach a new record high between 4,800 and 5,400 in the next 18 months, implying a 6% to 19% upside from its current level. Those gains would push the index into bull market territory, an important milestone given that the S&P 500 returned an average of 151% during the last 11 bull markets.

Here are two AI growth stocks to buy now and take advantage of the projected market upturn.

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Source Fool.com