PLTR - 3 Artificial Intelligence (AI) Stocks to Buy Now and Hold for Decades
2024-06-29 10:04:00 ET
Artificial intelligence (AI) is a transformative technology, and many businesses are rushing to capture a piece of this rapidly expanding market. Research outfit Statista forecasts that the AI industry will grow from $136 billion in 2023 to $827 billion by 2030.
At this early stage of the AI revolution, it can be challenging to identify which companies will be able to successfully capitalize on the opportunities in it over the long run. But among the plethora of businesses battling for dominance in the space, three stand out as compelling AI stocks to buy and hold for years as that market grows: Amazon (NASDAQ: AMZN) , Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG) , and Palantir Technologies (NYSE: PLTR) .
Amazon may be best known for its e-commerce business, but its use of AI is key to its ongoing success. For instance, the e-commerce giant created an AI tool to make it easy for third-party sellers to list their products on Amazon. They simply enter the URL of the appropriate page on their website into the tool, and AI automatically extracts the products to repost on Amazon's site.
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3 Artificial Intelligence (AI) Stocks to Buy Now and Hold for Decades