2023-06-23 06:40:00 ET
Growth in cloud computing was a boon for cloud stocks in recent years, but another wave of growth is coming as more companies ramp up their investments in artificial intelligence (AI) .
Market intelligence firm IDC expects AI to drive one-third of the total growth in public cloud services through 2025. AI could accelerate the data migration from on-premises servers to the cloud, which makes now an ideal time to buy top cloud stocks that are trading at discounts to their previous valuations.
Here's why Amazon (NASDAQ: AMZN) and Snowflake (NYSE: SNOW) are well-positioned to benefit from these trends.
For further details see:
2 Cloud Stocks to Ride the AI Opportunity