From MarketWatch: 2024-04-13 18:15:00

The AI market is booming with a rapid growth rate of 37% projected through 2030, making it an attractive sector for investors. The Nasdaq-100 Technology Sector index saw a 67% increase last year due to the excitement over AI. Here are three millionaire-maker AI stocks to consider: Nvidia, Microsoft, and Advanced Micro Devices.

Nvidia dominated the AI chip market with a 90% share in 2023, leading to a 214% rise in stock price over the past year. With strong earnings growth and a promising future in AI, now could be a great time to invest in Nvidia and capitalize on its potential growth.

Microsoft has made significant strides in AI, leveraging its partnership with OpenAI to enhance its products with AI features. While its P/E ratio is high at 37, Microsoft’s position in the AI industry and strong free cash flow make it a worthwhile investment for long-term growth potential.

Advanced Micro Devices (AMD) may have been late to the AI market, but its recent developments and partnerships make it a compelling investment opportunity. With the introduction of the MI300X AI GPU and a focus on AI-powered PCs, AMD is positioning itself as a key player in the growing AI sector.



Read more at MarketWatch: 3 Millionaire-Maker Artificial Intelligence Stocks