There's little question that artificial intelligence (AI) has been the driving force behind the current market rally -- and with good reason. These next-generation algorithms generate original text and images, streamline processes, and automate menial and time-consuming tasks, all with a few simple keystrokes. The potential for vast increases in productivity has companies lining up to see how they can best deploy AI to benefit their respective businesses.

Philippe Laffont knows a thing or two about profiting from emerging technology. The billionaire trained under the watchful eye of hedge fund legend Julian Robertson of Tiger Global Management. Laffont heads up Coatue Management, the world's premier tech-centric hedge fund, which he founded in 1999. Since then, he's parlayed $50 million in starting capital into a financial empire with $58 billion in assets under management. Furthermore, Coatue has far outpaced the returns of the broader market, delivering annualized returns of 14% over the past three years, compared to 8% for the S&P 500.

Laffont believes AI will be one of the prevailing investing themes over the coming decade, and he has his money where his mouth is: Five top AI stocks are Coatue's five largest holdings.

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Source Fool.com