Artificial intelligence (AI) might make investors wealthy, like previous tech booms. Nvidia and other equities have recovered from their 2022 bear market lows, demonstrating the incredible growth these new technologies are bringing for the firms involved and investors' willingness to pay for them.
Investors are increasingly interested in tiny firms with tremendous development potential. As AI grows popularity among investors, businesses, and consumers, these stocks may outperform.
Investors should consider Palantir (NYSE: PLTR) for its AI-driven potential. The organization has long provided national security and commercial clients with analytical insights using machine learning and other AI capabilities. Revenue and profitability have increased due to its platforms' success.
The Palantir Artificial Intelligence Platform (AIP) may boost its AI capabilities. Recently, AIP has extensively advertised its generative AI technology through "boot camps," which assist prospective clients uncover real-world uses for the technology. These boot camps have helped clients produce results 10 times quicker with one-third the resources.
AIP hasn't yet affected the company's headline results. The first three quarters of 2023 had 16% sales growth to $1.6 billion. Due to modest operational expenditure increase, Palantir earned $120 million over that time. Investor excitement about the company's future has sent its shares up 110% in a year.
After that rise, the stock trades at a price-to-sales ratio of 17, which may worry investors. Given its growth potential, its projected P/E ratio of 55 may make it a bargain. AIP stock might rise to millionaire level if its accomplishments lead to revenue growth.
Supermicro After 30 years, Super Micro Computer (NASDAQ: SMCI) may finally be receiving its due amid the AI revolution. A "rack-scale total IT solutions provider," it builds servers for big data, cloud computing, corporate, 5G, and other applications.
However, its Nvidia-powered data center servers have garnered notice. With over 6 million square feet of production space and activities in over 100 countries, it can transport this technology wherever clients want it.
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