From Nasdaq Inc.:



The article discusses the rising importance of artificial intelligence (AI) in the global market, with industry forecasts predicting significant growth in the AI market over the next decade. The article highlights three companies with different roles in the AI industry: Nvidia, which provides the GPUs needed for AI systems, Amazon, which delivers the IT infrastructure for AI programs, and UiPath, which produces AI applications. Each company has experienced significant growth and success in 2023 and is positioned well to continue thriving in 2024. For example, Nvidia saw a 206% increase in sales in 2023, Amazon is strengthening its position as a cloud computing provider, and UiPath has experienced a 24% revenue growth in the third quarter. The article emphasizes that the growing AI market will benefit these companies, making them attractive stocks for potential investors. Additionally, it provides information about the Motley Fool Stock Advisor service, which offers guidance and stock picks for investors. It concludes by noting that the views and opinions expressed in the article are those of the author and do not necessarily reflect those of Nasdaq, Inc.



Original: 3 AI-Backed Stocks That Could Return Magnificent Gains in 2024