Better Artificial Intelligence (AI) Stock: Nvidia vs. Amazon
All eyes have been on artificial intelligence (AI) this year, and for good reason. The market hit a value of $137 billion in 2022 and is projected to expand at a compound annual growth rate of 37% through 2030 (per Grand View Research). The sector is expanding quickly, leading numerous tech companies to restructure their business models with a priority on AI.
Thus, it's not a bad idea to consider adding an AI stock to your portfolio to potentially profit from the market's long-term growth.
Nvidia (NASDAQ: NVDA) and Amazon (NASDAQ: AMZN) are two attractive options, with one dominating in chips and the other using its leading position in cloud computing to carve out a lucrative role in AI. Nvidia's and Amazon's stocks have soared 219% and 75% year to date, thanks to increasing prospects in the sector, and could rise further in the new year.
Source Fool.com
