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AI chip stocks like Nvidia (NVDA) were the hottest investment of 2023. In fact, NVDA stock itself has soared more than 225% this year. 

But we’re rapidly approaching a new year and, with it, a new top investment idea.

Move aside, AI chip stocks. It’s time for the AI software stock boom. 

Approaching AI Software Stocks’ Day in the Sun

Of course, AI will remain the central investment theme in 2024. This isn’t a passing fad. It’s an economic paradigm shift as big as the internet. And back during the dot-com boom, internet stocks didn’t fizzle after a year – they were Wall Street’s hottest stocks for an entire decade. 

We believe it’ll play out the same way with AI stocks. Broadly speaking, 2023 was just the start of this boom. AI stocks will likely stay hot for the next 10 years. 

But throughout the 1990s, each sub-sector of the internet industry had its time to shine during the dot-com boom. One year, it was internet infrastructure stocks like Cisco (CSCO). Another, it was internet application stocks like Amazon (AMZN). Then internet hardware makers like Microsoft (MSFT) were passed the baton. 

Similarly, each sub-sector of the AI industry will have its time to shine in the 2020s AI Boom. 

In 2023, AI chip stocks were the big winners because they provided the picks and shovels for the AI industry. That is, in order for companies across the globe to build AI models, they first have to buy the AI chips to run them. 

It’s the “first derivative” of the AI Boom, if you will. 

But we believe that trend has now played out. Everyone went on an AI chip buying spree in 2023, and now, they have the chips. What are those companies going to do now?

They’re going to build AI models and applications – which is why we expect AI software stocks will boom in 2024. 

Thanks to the 2023 chip-buying frenzy, companies are fully equipped to build and deploy next-generation AI models and applications. We’ll likely see hundreds of new AI applications emerge next year. Those applications will proliferate throughout society. And by 2025, we’ll be drowning in AI software. 

Next year will be the year that AI software explodes. 

The Final Word

We’re already starting to see early signs of this. 

Several major enterprise software makers reported quarterly earnings this past week. They pretty much all smashed expectations and provided strong early guidance for 2024. The central theme? They all plan to launch a ton of new AI software services next year. And early demand signals for those services are very strong. 

This past week alone, Salesforce (CRM), Intuit (INTU), UiPath (PATH), Snowflake (SNOW), Workday (WDAY), CrowdStrike (CRWD), Zscaler (ZS), Zuora (ZUO), Elastic (ESTC), Samsara (IOT), and PagerDuty (PD) all beat quarterly revenue and earnings estimates. All provided strong guidance for 2024. And every stock popped thereafter.

I’ve been doing this stuff for a long time, and I’ve never seen something like this. Nearly every single major enterprise software firm with exposure to AI double-beat estimates this quarter and delivered strong guidance. 

To us, the takeaway is crystal-clear. 

An AI software spending tidal wave is coming in 2024. AI software stocks are going to soar. 

And we’ve got the perfect way for you to play this boom.

Surprisingly, it isn’t an AI software stock. 

Rather, it’s a different type of AI software investment – one that could yield significantly larger returns with much less volatility. 

It could be the sort of investment that turns a mere $1,000 stake into millions of dollars. 

Learn more now – before this investment “sells out” (which could actually be the case for these special investments).

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Original: NVDA Feed: The AI Stocks That Will Make You Money In 2024