From Nasdaq: 2024-05-07 05:06:00

The rise of artificial intelligence (AI) is predicted to add $15.7 trillion to the global economy by 2030. While Nvidia is a popular stock pick, two AI stocks may be better buys. Meta Platforms, one of Nvidia’s top customers, and SentinelOne, a cybersecurity solutions provider, offer strong growth potential in the AI sector.

Meta Platforms, the parent company of Facebook, Instagram, and WhatsApp, boasts nearly 4 billion monthly active users. Its advertising-driven revenue model is supported by a strong balance sheet and continues to attract advertisers. With its focus on AI development, Meta is well-positioned to weather any potential burst in the AI bubble.

Endpoint cybersecurity provider SentinelOne utilizes AI and machine learning to detect and respond to threats autonomously. Its subscription-driven model, high-adjusted gross margin, and increasing customer base position the company for substantial growth. Despite Wall Street’s initial reaction, SentinelOne’s growth potential remains strong, with the potential to surpass $2 billion in annual revenue by 2029.



Read more at Nasdaq: Forget Nvidia: Buy These 2 Hypergrowth Artificial Intelligence (AI) Stocks Instead