"Investors have sought out artificial intelligence (AI) stocks over the past few years because of the technology's great potential. AI promises to streamline business operations and reduce costs -- and even make our daily lives easier. And that may equal significant revenue growth for a number of companies in the space. Two in particular that stand out are Nvidia (NASDAQ: NVDA) and Meta Platforms (NASDAQ: META)."
"Nvidia sells graphics processing units (GPUs), or the chips that power the most important of AI tasks, such as the training of large language models. And the company also offers a complete array of supporting products and services, making it a true AI giant. Since Nvidia's offerings are powering the AI processes of today, the company already is bringing in revenue from this hot technology."
Nvidia dominates the AI hardware market by selling GPUs and complementary products that power large language model training, producing substantial revenue growth. Nvidia reported triple-digit revenue increases to over $130 billion in the last full year and signaled soaring demand heading into its Feb. 25 annual report. Meta Platforms is allocating significant resources to AI research and development to enhance its advertising business and to compete as a general AI leader. Both companies benefit from AI-driven opportunities and currently trade at valuations that present distinct investment considerations and potential buying opportunities.
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