SPECIAL REPORT The Top 7 Stocks for 2024

10 AI Stocks Set to Become Trillion-Dollar Companies

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  • Which artificial intelligence (AI) stocks will hit $1 trillion?
  • One market research platform has just released a list with its predictions.
  • The companies that rank highest may surprise some investors.
AI stocks - 10 AI Stocks Set to Become Trillion-Dollar Companies

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One year ago, OpenAI changed the tech sector when it launched ChatGPT. This artificial intelligence (AI) chatbot has changed the ways in which companies across multiple sectors do business and streamline operations. Many companies responded to the revolutionary innovation by launching their own versions of ChatGPT. This includes the Microsoft (NASDAQ:MSFT) Bingbot and, most recently, Elon Musk’s Grok AI, a bot that answers questions with sarcasm and insults. For investors, this new frontier of technology has created a new class of AI stocks with the potential to mint new millionaires.

The AI revolution has seen some important milestones, including taking chipmaker Nvidia (NASDAQ:NVDA) to a trillion-dollar market capitalization. Since then, investors have been on the hunt for the next Nvidia. But which companies will be next to join that elite club? One market research platform recently released an in-depth list of AI stocks that have seen the biggest market cap increases and are most likely to reach the trillion-dollar market.

The Next AI Stocks to Reach $1 Trillion

Forex Suggest is a digital venue that aims to offer data-driven insight into investors’ questions. Earlier this week, its team released its ranking of the top ten AI stocks most likely to reach the trillion-dollar market before their competitors. The list contains some names that may surprise investors.

  • Oracle Corporation (NYSE:ORCL): This tech giant saw its market cap percentage increase by 50.7% between August 2022 and August 2023. It is estimated to reach $1 trillion within 7 years.
  • Palantir (NYSE:PLTR): This data analytics innovator saw its market cap percentage increase by 64.6% between August 2022 and August 2023. It is estimated to reach $1 trillion within 11 years.
  • General Electric Company (NYSE:GE): This industry-leading manufacturer saw its market cap percentage increase by 50.9% between August 2022 and August 2023. It is estimated to reach $1 trillion within 20 years.
  • The Trade Desk (NASDAQ:TTD): This digital advertising company saw its market cap percentage increase by 61.6% between August 2022 and August 2023. It is estimated to reach $1 trillion within 25 years.
  • SAP SE (NYSE:SAP): This German software producer saw its market cap percentage increase by 61.6% between August 2022 and August 2023. It is estimated to reach $1 trillion within 27 years.
  • C3.AI (NYSE:AI): This AI innovator saw its market cap percentage increase by an impressive 93.4% between August 2022 and August 2023. It is estimated to reach $1 trillion within 30 years.
  • ServiceNow (NYSE:NOW): This workplace software producer saw its market cap percentage increase by 12.4% between August 2022 and August 2023. It is estimated to reach $1 trillion within 35 years.
  • Tetra Tech (NASDAQ:TTEK): This consulting and engineering firm saw its market cap percentage increase by 15.1% between August 2022 and August 2023. It is estimated to reach $1 trillion within 37 years.
  • Upstart (NASDAQ:UPST): This AI lending company saw its market cap percentage increase by 100% between August 2022 and August 2023. It is estimated to reach $1 trillion within 45 years.
  • IBM (NYSE:IBM): This tech sector leader saw its market cap percentage increase by 10.7% between August 2022 and August 2023. It is estimated to reach $1 trillion within 99 years.

On the date of publication, Samuel O’Brient did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Samuel O’Brient is a Reporter for InvestorPlace, where his work focuses primarily on financial markets, global economic trends, and public policy. O’Brient writes a weekly column on recent political news that investors should be following.


Article printed from InvestorPlace Media, https://investorplace.com/2023/11/10-ai-stocks-set-to-become-trillion-dollar-companies/.

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