1 Artificial Intelligence (AI) Stock That Has Created Millionaires, and Will Continue to Make More
A boom in artificial intelligence (AI) kicked off last year, leading to a surge in tech stocks. As a result, the Nasdaq-100 Technology Sector is up about 55% year over year and has shown no signs of slowing.
According to data from Grand View Research, the AI market hit close to $200 billion last year and is projected to expand at a compound annual growth rate of 37% through 2030. That trajectory will see the segment reach nearly $2 trillion by the end of the decade. So, it's not too late to invest in AI and potentially see major gains despite the meteoric rise last year.
An attractive investment option is Advanced Micro Devices (NASDAQ: AMD), a chipmaker investing heavily in AI. The company has already made plenty of millionaires, with its stock up 87% since last March. However, a new line of AI graphics processing units (GPUs) and improvements in the PC industry could see its stock soar in the coming years.
Source Fool.com
Advanced Micro Devices Inc. Stock
The stock is one of the favorites of our community with 78 Buy predictions and 1 Sell predictions.
With a target price of 178 € there is a slightly positive potential of 13.23% for Advanced Micro Devices Inc. compared to the current price of 157.2 €.
