GOOGL - Generative AI Sales Could Surge 2026%: Here's My Pick for the Best AI Stock to Buy Now (Hint: Not Nvidia)
2024-05-30 04:48:00 ET
Generative artificial intelligence (AI) took center stage when OpenAI introduced ChatGPT in late 2022. Nvidia CEO Jensen Huang recently called it "the defining technology of our time," and his company has arguably been the biggest winner through the initial phase of the generative AI boom. Nvidia shares have surged 680% since the beginning of 2023.
However, the market is expanding rapidly, and countless companies will benefit in the long run. Indeed, Bloomberg Intelligence says generative AI sales across hardware, software, and services could soar 2,026% to $1.4 trillion by 2032. That puts investors in front of a once-in-a-generation opportunity.
Here's why Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) is my pick for the best AI stock to buy now.
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Generative AI Sales Could Surge 2,026%: Here's My Pick for the Best AI Stock to Buy Now (Hint: Not Nvidia)