Top 3 AI Stocks to Invest in for Long-Term Growth with $1,150

Top 3 AI Stocks to Invest in for Long-Term Growth with ,150

Artificial intelligence (AI) is a hot topic today, mainly because the stock market is focused on the future. It allows us to see the long-term potential of a new technology like AI to change our world. The global AI market was worth $200 billion last year and will grow nearly 40% annually through 2030, according to Grand View Research.

Now is the time to place your long-term bets, choosing the best AI companies which have the potential to outperform both their competitors and the stock market as a whole in the years to come.

Some stocks with high potential stand out from the crowd. Here’s why investors should consider buying and holding Snowflake (NYSE: SNOW), Palantir Technologies (NYSE:PLTR)And ASML (NASDAQ: ASML) for decades to come. And you can get a share of all three for less than $1,150 at current prices.

1. Data storage and organization will be essential to AI

Snowflake becomes crucial for AI. Artificial intelligence models require large amounts of data to train on. Snowflake is a data cloud that stores customer data on its cloud platform. Customers can easily query data from Snowflake, which cleanly indexes and stores it, making it easy to use. Additionally, Snowflake allows customers to share and search data with third parties.

Data is growing exponentially. The more digital our world is, the more data we create. And the data doesn’t expire; it just builds up over time. This is why most of the world’s data has only been created recently. This statement will probably be true in 10, 20 or 30 years. Snowflake’s fees are based on the computing and storage used by customers. It helps customers fit Snowflake into their budget. This also enables long-term revenue growth as increasing amounts of data require more storage and computing power.

Snowflake is a key player in the industry, with privately held Databricks as its main competitor. Snowflake runs on top of major cloud platforms, making it almost more of a partner than a competitor. Its usage-based billing may create some volatility in Snowflake’s short-term growth, but the long-term trend is expected to increase.

2. Businesses will need help deploying AI applications

Any tech investor who reads earnings reports has probably seen how every company seems to mention AI as part of the future. But few companies know how to implement AI into their business. Therein lies the opportunity for Palantir Technologies. The company creates and deploys custom software for government and commercial customers across its three platforms: Gotham, Foundry and, most recently, its Artificial Intelligence Platform (AIP).

AIP is for deploying AI applications, and CEO Alex Karp note This customer interest in deploying AI through Palantir is huge. This can also be seen in the numbers. Palantir’s U.S. commercial customer base grew 55% year-over-year in the fourth quarter and 22% quarter-over-quarter. Note that Palantir still only has 221 US customers, compared to a market opportunity of thousands of companies in the US alone.

It’s not hard to imagine Palantir’s commercial customer base multiplying over the next decade and beyond. All this is supported by close ties to the US government, which gives the company a high floor. U.S. government deals contribute about half of Palantir’s total revenue today.

3. The machines behind cutting-edge AI chips

AI chips are currently the major arms race in the tech industry. Everyone is chasing Nvidia, it seems, which has cornered the chip market with its cutting-edge AI hardware. But ASML doesn’t have to worry about the chips that everyone uses. That’s because it makes the machines that make the chips. These machines use extreme ultraviolet (EUV) lithography to create delicate patterns on silicon wafers.

Many don’t realize it, but the EUV machines that make the smallest and most advanced chips come from just one company in the world: ASML. Yes, it is a legitimate monopoly. Only ASML has the know-how and patents to build these machines. This means that one way or another, ASML products will be in demand as long as AI models require more and more advanced chips.

According to Mordor Intelligence, the EUV market is worth approximately $10 billion today and will grow at an average annual rate of 11% to nearly $18 billion by 2029. Investors can buy ASML with confidence, knowing that the momentum of AI innovation will keep business humming. for the company’s unique machines for years to come.

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Justin Pope has no position in any of the stocks mentioned. The Motley Fool holds positions and recommends ASML, Nvidia, Palantir Technologies and Snowflake. The Mad Motley has a disclosure policy.

3 Artificial Intelligence (AI) Stocks to Buy with $1,150 and Hold for Decades was originally published by The Motley Fool

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