From Nasdaq: 2024-11-09 04:00:00

Generative AI, powered by large language models and machine learning, is set to revolutionize media creation. With OpenAI’s ChatGPT leading the charge, demand for such technology is expected to skyrocket. Bloomberg Intelligence predicts generative AI software spending to reach $320 billion by 2032, compounding at 52% annually, offering investors a significant opportunity.

Microsoft (NASDAQ: MSFT) and Datadog (NASDAQ: DDOG) are poised to benefit from the surge in generative AI software demand. Microsoft, the largest commercial software company, leverages its strength in productivity and cloud services, with Azure gaining market share. Datadog provides observability software with AI features, seeing strong financial growth and a vast market opportunity in observability software.

Microsoft’s AI business is on track to exceed $10 billion in annual revenue, driving cloud services growth. Wall Street expects Microsoft’s earnings to increase at 15% annually through 2027. Datadog, a leader in observability software, is expected to see adjusted earnings grow at 19% annually through 2027, fueled by demand for generative AI software. Patient investors may find opportunities in both companies.

Investors looking for potential growth opportunities should consider “Double Down” stock recommendations. Companies like Amazon, Apple, and Netflix have seen significant returns from past recommendations. The current alert focuses on three promising companies, offering a chance for investors to capitalize on potential future growth.



Read more at Nasdaq: Generative AI Software Sales Could Soar 2,790%: 2 AI Stocks to Buy Now That Come Highly Rated by Wall Street