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2 Artificial Intelligence (AI) Stocks to Buy Now That Could Make You a Millionaire

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2 Artificial Intelligence (AI) Stocks to Buy Now That Could Make You a Millionaire

“We’ve seen a lot of exciting technology waves in our industry – cloud, social, mobile – but this AI wave will be the biggest anyone has ever seen.” Sales team CEO Marc Benioff

The rise of artificial intelligence (AI) will provide a hugely lucrative opportunity for savvy investors. Here are two AI leaders who are particularly well positioned to deliver fortune returns to their shareholders in the coming years.

1. Palantir Technologies

Generative AI model makers like OpenAI are getting a lot of attention, but the best AI investments are likely to be in the analytics all-stars who can use AI to help companies get the most out of their data. Palantir Technologies (NYSE:PLTR) elite offers machine learning technology and a groundbreaking new AI platform that can do just that.

Palantir enables its customers to extract valuable insights from a variety of disparate data sources in real time. The instruments are valued by the US military and several government agencies.

On May 30, the company won a contract with an initial order of $153 million – and additional awards of up to $480 million – to make its AI operating system available across the Department of Defense. Palantir’s head of defense growth, Shannon Clark, said the tools will enable commanders “to make better, faster decisions across all domains at unprecedented scale.”

The new Artificial Intelligence Platform (AIP) is also a hit with private companies. For example, Tampa General, a leading academic healthcare system, recently selected AIP as its core analytics and AI platform.

In particular, Tampa General credits Palantir with helping to reduce the amount of time it takes to place patients by 83%. “Reduced time waiting for placement and shorter length of stay not only improves the patient experience, it also gives us the opportunity to treat more patients in need of care,” John Couris, CEO of Tampa General Hospital, said June 5.

These practical benefits drive customers to Palantir. Revenue rose 21% year over year to $634 million in the first quarter, boosted by a 69% increase in the number of U.S. commercial customers. Better yet, net income was an impressive $106 million, marking its sixth consecutive quarter of profitability.

Still, Palantir’s total commercial customer base was just 262 as of March 31. That leaves plenty of room for expansion, and Wall Street seems to agree. Analysts expect Palantir to grow its profits by more than 85% annually over the next five years.

2. Advanced micro devices

Nvidia (NASDAQ: NVDA) reigns supreme under AI semiconductor designers. But chip buyers are eager to back a challenger. They see competition as a way to increase supply and control rising chip prices.

Enter Advanced micro devices (NASDAQ: AMD). This innovative chipmaker has a solid plan to take market share from Nvidia and become a force in the booming AI industry.

AMD sees data center chip revenue growing to around $4 billion by 2024. For context, the company generated total revenue of $22.8 billion over the past twelve months. But that’s just the beginning of what AMD’s AI-related sales could soon become.

CEO Lisa Su predicts that demand for chips that can accelerate AI workloads will rise to $400 billion by 2027.

Big chip buyers like Microsoft, Metaplatforms, Oracle, and OpenAI are all reportedly planning to deploy AMD’s new AI accelerators in their data centers, according to CNBC.

AMD is also helping to bring a wave of AI-powered personal computers (PCs) to market. The chipmaker’s powerful Ryzen 8040 series processors will feature prominently in new AI-enabled PCs built by PK And Dell.

With these lucrative opportunities in data centers and AI PCs fueling its growth, AMD is expected to grow its revenues by more than 30% annually over the next five years. Buy shares today and profit together with this ambitious AI powerhouse.

Should you invest €1,000 in advanced micro-devices now?

Consider the following before buying shares in Advanced Micro Devices:

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Randi Zuckerberg, former director of market development and spokeswoman for Facebook and sister of Mark Zuckerberg, CEO of Meta Platforms, is a member of The Motley Fool’s board of directors. Joe Tenebruso has no position in any of the stocks mentioned. The Motley Fool holds positions in and recommends Advanced Micro Devices, HP, Meta Platforms, Microsoft, Nvidia, Oracle, Palantir Technologies, and Salesforce. The Motley Fool recommends the following options: long January 2026 $395 calls to Microsoft and short January 2026 $405 calls to Microsoft. The Motley Fool has one disclosure policy.

2 Artificial Intelligence (AI) Stocks to Buy Now That Could Make You a Millionaire was originally published by The Motley Fool