NVDA - Generative AI Software Sales Could Soar 18647% by 2032. 1 Unstoppable Artificial Intelligence (AI) Stock to Buy Before They Do (Hint: It's Not Nvidia)
2024-06-30 05:10:00 ET
Many experts believe the latest developments in artificial intelligence (AI) will profoundly impact the technology and business landscapes. These advanced systems can generate original content, streamline time-consuming processes, and automate procedures -- all with a few simple commands. This, in turn, promises to increase productivity and save money, which has companies racing to adopt the next-generation algorithms.
One of the most obvious beneficiaries of this trend is Nvidia (NASDAQ: NVDA) . The company's graphics processing units (GPUs) supply the computational horsepower required to process AI training and inference . However, the investing community is beginning to look beyond the first phase of AI adoption (hardware) to what comes next, which will invariably be AI-infused software. It's estimated that generative AI software sales could soar as much as 18,647% to $280 billion by 2032, according to Bloomberg Intelligence.
While there's little doubt that Nvidia will continue to prosper from its early adoption of AI , another company has decades of experience in the field and is poised to profit as the tidal wave of AI software adoption commences.
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Generative AI Software Sales Could Soar 18,647% by 2032. 1 Unstoppable Artificial Intelligence (AI) Stock to Buy Before They Do (Hint: It's Not Nvidia)