2 AI Stocks for Wealth in 2024: Unlocking Investment Potential
Published Date: 04/07/2024
Discover two AI powerhouse stocks that have made millionaires and are poised to continue their upward trajectory
The artificial intelligence (AI) market has experienced remarkable growth, reaching $197 billion last year, with an expected expansion to $2 trillion by the end of the decade. This surge has created millionaires and is likely to continue. Two companies, Nvidia and Alphabet, are leading the charge in AI and are strong investment opportunities for 2024.\n\nNvidia, the dominant force in AI chips, boasts a market cap above $3 trillion. Its unrivaled market share, growing cash reserves, and nearly limitless demand for its chips make it an attractive investment. Meanwhile, its involvement in AI has taken its business to new heights, with a 745% stock increase since 2023.\n\nAlphabet, the parent company of Google, is investing heavily in AI software. As an AI-first company, Alphabet is expanding rapidly, outpacing its cloud computing rivals. Its AI model, Gemini, has enabled the integration of AI features across its product lineup, and its DeepMind AI research subsidiary is developing commercial services.\n\nDespite significant stock growth, both companies remain undervalued. Nvidia's price-to-earnings-to-growth ratio is less than 1, and Alphabet's forward price-to-earnings ratio and price-to-free cash flow are lower than its competitors. With their strong financial foundations and AI-driven growth potential, these two companies are poised to create more millionaires in 2024.
FAQs:
Q: What is the expected growth rate of the AI market?
A: The AI market is expected to expand to $2 trillion by the end of the decade.
Q: What is Nvidia's market share in AI chips?
A: Nvidia maintains an estimated 90% market share in AI chips.
Q: What is Alphabet's position in cloud computing?
A: Alphabet holds the third-largest market share in cloud computing with Google Cloud.
Q: What is the price-to-earnings-to-growth ratio of Nvidia?
A: Nvidia's price-to-earnings-to-growth ratio is less than 1.
Q: What is the stock growth of Alphabet since 2014?
A: Alphabet has seen a 522% stock growth since 2014."
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