The AI boom is nearly 3 years old, and one thing is certain about it: the boom has legs, and AI is here to stay. More and more companies are turning to the technology to enhance all sorts of functions, from customer service to chatbots to high-level data analytics and even to decision-making processes. According to Fortune Business Insights, up to 35% of all businesses have integrated AI into their work models.
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This equals big money for the AI developers out there. Chip makers, AI app creators, data analysis firms – all of these and more have created an industry that was valued at $233 billion last year, and is estimated by Fortune Business Insights to hit $294 billion this year – and to show a CAGR of 29.2% through 2032, reaching $1.77 trillion that year. We should note that North American AI companies, mainly in the US, are leading this industry, with a 2024 market share of nearly 33%.
With numbers like these, it’s no surprise that UBS analysts are combing through the sector to pinpoint the most promising AI stocks. Their latest deep dive zeroes in on two recent earnings reporters – Palantir (NASDAQ:PLTR) and Advanced Micro Devices (NASDAQ:AMD) – to see which is the superior AI stock to buy. Let’s take a closer look.
Palantir
The first AI stock we’ll look at here is one of the leaders in the field. Palantir is well-known for marrying AI technology and capabilities to the field of data analysis, a match that has matured into a solid product platform – AIP, or AI Platform – and a set of tools whose wide applicability has made them highly popular. Since its founding in 2003, Palantir has developed a reputation for innovation, and has built itself into a $441 billion giant of the AI industry.
Palantir’s AIP is purpose-built to combine AI tech with human intuition and flexibility, to gain the best from both – and to improve outcomes and results in data…
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