5 Artificial Intelligence (AI) Stocks That Could Make You a Millionaire

If purchased nvidia If you owned stocks a few years ago, you’re likely to be much richer today. The semiconductor stock has benefited greatly from interest in artificial intelligence (AI), generating millionaire profits and helping the company’s valuation grow to $2.1 trillion. But because it’s already so large, it’s unlikely that new Nvidia investors will reap the same kind of returns in the future. Investors looking for similar returns will have to dig deeper and look for rising stars that are small enough to double in size over the next few years.

To help you in that search, here are 5 AI stocks that are likely to make you millionaires over the next 10+ years.

1. Palantir Technologies

data analytics company Palantir Technologies (PLTR -0.96%) We build custom software and AI applications on the Gotham, Apollo, and AIP platforms. The company has deep ties to the U.S. government and has gained commercial customers. U.S. commercial bookings increased more than 100% year-over-year in the fourth quarter. The company is highly profitable and has a whopping $3.6 billion in cash with zero debt to continue investing for growth.

PLTR Revenue (TTM) data from YCharts

The company has a market capitalization of $55 billion, making it small enough that the stock could grow to several times its current size if Palantir eventually becomes the behemoth that tech investors hope it will become. Palantir still has 497 customers, so it could have many more over the next decade or more.

2. Super microcomputer

modular computer systems company super micro computer (SMCI 1.53%) Thanks to the rapid increase in demand for AI data center systems, the business is recording a triple-digit growth rate. Supermicro’s modular systems are popular. Management noted that its growth far outpaces that of the broader industry. Nvidia CEO Jensen Huang estimates that up to $1 trillion in data center spending will be needed to accommodate the resource requirements of AI.

SMCI Revenue (TTM) data from YCharts

Considering that Supermicro still generates less than $10 billion in annual revenue, that’s quite a bit of pie for the company to have a bite of. The stock has already risen so much over the past year, but the company has only just now been added to the ranks. S&P 500 Today, it’s still only worth $50 billion. This leaves room for long-term growth.

3. Symbolic

robotics company symbolic (SYM -3.23%) A game changer in retail and e-commerce. The company is building a proprietary fulfillment system that stores merchandise efficiently and uses robots to pick and fill orders. Although the company only deployed 35 systems for 9 customers, large retailers such as walmart and target It is among them. The company is also developing fulfillment-as-a-service, a leasing system for third-party customers.

SYM Revenue (TTM) data from YCharts

Having customers like Walmart who rely on efficiency to keep prices low shows confidence in the performance of these fulfillment systems. Although Symbotic is a new company, it is already generating free cash flow. The company’s $23 billion market capitalization makes Symbotic’s system highly investable if it becomes commonplace in the global economy.

4. CrowdStrike

cyber security company Crowd Strike (CRWD -5.18%) has emerged as a leader in next-generation technology that uses AI to proactively identify and resolve threats. The company has expanded beyond endpoint security, growing that market to $100 billion. As you can see below, CrowdStrike is theoretically still in the early stages of its growth journey with less than $3 billion in annual revenue.

CRWD Revenue (TTM) data from YCharts

Cybersecurity is fragmented and competitive, with a mix of next-generation players and older, legacy companies from the early days of the industry. CrowdStrike’s impressive growth over the past few years is a sign that the business can continue to take market share and that investors are poised to reap the benefits. This company is the most notable company on this list at $75 billion, but it could grow for decades.

5. UiPass

Software automation is still relatively new to most businesses, but Ui Pass (road -5.24%) You can change it. The company’s software can observe, learn and replicate simple computer tasks such as filling out forms and organizing data. This is a real-life scenario of automating humans in simple tasks. Importantly, UiPath is a widely recognized industry leader. Gartner.

PATH Revenue (TTM) data from YCharts

The company already generates a lot of cash flow, and its stock has a market cap of just $13 billion. Office automation could be of interest to many companies around the world, offering potentially lucrative long-term return potential for a currently modestly sized stock.