Demand for artificial intelligence (AI) services has skyrocketed over the last year, prompting countless tech companies to pivot their businesses toward the budding sector. The launch of OpenAI’s ChatGPT reignited interest in AI and highlighted just how far the technology had come.
According to Grand View Research, the AI market is projected to grow at a compound annual rate of 37% until at least 2030, which would see it hit a value close to $2 trillion. AI will likely boost countless industries as the technology is applied to sectors like consumer tech, cloud computing, autonomous vehicles, machine learning, and more.
As a result, there are dozens of ways to invest in AI and profit from the market’s long-term expansion. Here are two artificial intelligence stocks that could go parabolic.
1. Intel
It hasn’t been easy to be an Intel (NASDAQ: INTC) investor in recent years, with the company hitting a few roadblocks.
Intel was responsible for over 80% of the central processing unit (CPU) market for at least a decade and was the primary chip supplier for Apple‘s MacBook lineup for years. But the tech giant’s dominance made it complacent, leaving it vulnerable to more innovative competitors.
Chip rival Advanced Micro Devices started gradually eating away at Intel’s CPU market share in 2017, and that share is now down to 63%. Then in 2020 Apple cut ties with Intel in favor of more powerful in-house hardware designs. As a result, Intel’s stock is down about 35% over the past three years.
However, the fall from grace seemed to light a fire under Intel again, and it has been making moves to come back strong in the coming years. Last June, Intel announced a “fundamental shift” to its business, adopting an internal foundry model that it believes will help it save $10 billion by 2025.
Moreover, Intel is investing heavily in AI. In December 2023, the company debuted a range of AI chips, including Gaudi3, a graphics processing unit (GPU) designed to challenge similar offerings from market leader Nvidia. Intel also showed off new Core Ultra processors and Xeon server chips, which…
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