There has been some pullback in artificial intelligence (AI) stocks over the last month, illustrated by a 13% dip in the Nasdaq-100 technology sector. Concerns over a potential recession triggered a sell-off that wasn't kind to tech companies.

However, recent earnings from a range of tech giants active in AI suggest the industry still has much to offer over the long term. Market leaders like Advanced Micro Devices, Amazon, and reported earnings over the last month, beating Wall Street estimates in their respective AI divisions.

This impressive growth aligns with data from Grand View Research, which shows the AI market is expected to expand at a compound annual growth rate of 37% through 2030 and reach nearly $2 trillion in spending. As a result, it's likely not too late to invest in AI and profit from its long-term development.

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Source Fool.com