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

Interest in artificial intelligence (AI) skyrocketed last year after the launch of OpenAI’s ChatGPT. The generative chatbot has amazed the tech world with its ability to produce human-like dialogue based on prompts. OpenAI’s platform has highlighted the advancements in AI and its potential to drive countless industries.

As a result, dozens of technology companies have launched into AI and enjoyed significant stock market gains from their efforts. Companies like Nvidia And Amazon have seen their shares rise 228% and 45% over the past 12 months, thanks to dominant positions in their respective AI fields.

However, the market is large and appears to still have plenty of room to grow, and is expected to grow at a compound annual growth rate of 37% until at least 2030. Therefore, it might be worth investing in a company that is still in its early stages. steps in its AI journey and could generate significant growth in the coming years as the industry expands.

Here are two AI stocks that could make you a millionaire if you’re willing to wait.

1.Intel

Actions in Intel (NASDAQ:INTC) have grown over 115,000% since its IPO in 1971. The company was once the biggest name in the chip industry and undoubtedly created many millionaires in its time. However, the last decade has put a strain on the tech giant, with its shares falling 3% and revenue falling.

Yet recent developments suggest that a recovery is underway, with Intel an increasingly attractive way to invest in AI. The chipmaker’s fall from grace and changes in the technology market have forced Intel to rethink its business model. The company is reshaping its business around the semiconductor foundry market, a sector expected to more than double its valuation in 2022 and reach $232 billion by 2032.

Intel kicked off its foundry expansion by beginning construction of chip factories around the world, focusing primarily on the United States. The company plans to build at least four manufacturing plants in the United States. Intel on June 11 temporarily delayed construction of a factory in Israel as it struggles to continue its multibillion-dollar investment at a slower pace and get its finances under control. The move comes after Intel announced it would sell a 49% stake in its Irish factory for $11 billion.

Chip manufacturing plants won’t be cheap but could be profitable in the long run, especially regarding Intel’s position in AI. While competitors like Nvidia and Advanced microsystems prioritize chip design and outsource much of their manufacturing, Intel could have a lucrative opportunity to become one of the largest AI chip manufacturers of the world.

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Additionally, Intel shares trade at 28 times forward earnings, which is significantly lower than Nvidia’s 48 and AMD’s 46. The numbers indicate that Intel stock is potentially the biggest deal in AI chips. In addition to a promising change in its business model, Intel is a stock that could make you a millionaire in the long term.

2. Apple

Apple (NASDAQ:AAPL) was slower than many of its rivals in…