One of my favorite technology research analysts is Dan Ives of Wedbush Securities. About a month ago he referred to the boom in artificial intelligence (AI) as a "1995 moment" for the technology sector. For those of you who don't get the reference, he's talking about the widespread adoption of the internet and how it impacted the world thereafter. I've been suspicious for a while that AI is quickly mutating into Wall Street's new favorite buzzword (a la "metaverse" or "blockchain").  

While AI applications are in their early days, two companies in particular appear to be well ahead of the curve. Both Palantir Technologies (NYSE: PLTR) and Meta Platforms (NASDAQ: META) have showcased some progress on the AI front. And it's exciting. What is even better is that despite each stock's generous 2023 return so far, I do not believe the hype of AI is priced in.

Let's dig in and see what each company is up to and assess if now is a good time to buy these stocks.

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Source Fool.com