2 AI Stocks to Buy and Hold for the Next Decade
These companies are already capitalizing on AI. It may just be the beginning.
Overview
According to some analysts, artificial intelligence (AI) infrastructure spending will reach a cumulative total of $31.6 trillion through 2050. To put that in perspective, the entire GDP of the U.S. was $30.77 trillion last year. In other words, the AI industry could grow by leaps and bounds over the long run, and plenty of companies could capitalize on that and make their shareholders richer in the process. With that said, let's consider two AI stocks to buy right now and hold onto for the next decade: Nvidia (NASDAQ: NVDA) and Amazon (NASDAQ: AMZN).
Image source: The Motley Fool.
Nvidia has been one of the biggest winners from the AI boom so far. The company dominates the market for GPUs (graphics processing units), the defining hardware of the first wave of the recent AI revolution. Nvidia benefits from a wide moat from switching costs thanks to its CUDA ecosystem. However, some investors worry that the company's prospects are no longer what they once were.
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Originally published at www.fool.com.