DCBO - Generative AI Software Sales Could Soar 6260%: My Pick for the Best AI Stock to Buy Now (Hint: Not Nvidia)
2024-04-27 04:00:00 ET
Generative artificial intelligence (AI) uses large language models and other machine learning models to create novel media content like text and speech, images and video, even computer code and gene sequences. Nvidia (NASDAQ: NVDA) CEO Jensen Huang recently called it "the defining technology of our time."
Indeed, automating content creation could improve productivity across numerous industries, so businesses are racing to realize the benefits. Bloomberg Intelligence says generative AI software sales could soar 6,260% to $318 billion by 2032, up from $5 billion in 2023. That puts investors in front of a massive opportunity.
For many, Nvidia may be the first stock that comes to mind. But I think little-known software company Docebo (NASDAQ: DCBO) is the better buy right now. Here's why.
For further details see:
Generative AI Software Sales Could Soar 6,260%: My Pick for the Best AI Stock to Buy Now (Hint: Not Nvidia)