Once again, Nvidia (NASDAQ:NVDA) has proven that it isn’t done growing. The artificial intelligence (AI) leader reported earnings for the fourth quarter of 2023 this morning, blowing past Wall Street estimates. Its revenue of $22.10 billion, a year-over-year (YOY) gain of 265% still manages to pale in comparison to the company’s net income, which skyrocketed an impressive 769%.

There are many important things that investors should take away from the key earnings report. But the most important is that the AI gold rush is still picking up steam and is likely to continue growing steadily. For investors, this means that the time to focus on finding the best AI stocks to buy is now. Nvidia is leading the way, but many of its smaller peers are picking up steam. Matt Miczulski, an investment expert and editor at fintech platform Finder, recently commented on the bigger picture when it comes to Nvidia’s earnings. As he states:

“Even against lofty expectations, Nvidia’s earnings and revenue beat shows the AI demand is real and accelerating quickly. As the third most-valuable company in the S&P 500 and with strong guidance for the current quarter, investors will likely interpret this as a positive signal for the technology sector and the broader market, which could lead to increased confidence in the strength of the economy.”

So far, Nvidia’s earnings blowout has certainly boosted other AI stocks. Much of the sector is in the green today, while the tech-heavy Nasdaq Composite is up more than 2.5%. While many companies are enjoying the positive momentum, investors should be assessing the best AI stocks to buy for long-term growth potential. While the list of potential winners is long, a few names stand out.

AI Stocks to Buy: Symbotic (SYM)

It’s an excellent time to be in the robotics and automation business. Specifically, the workplace automation business. And Symbotic (NASDAQ:SYM) is a name that should be on all investor’s radar. This Wilmington, Massachusetts-based company doesn’t receive as much attention as its Silicon Valley peers. However, it has been making impressive progress in the highly lucrative workplace automation center market, both building and operating them for U.S. and Canadian clients. Unlike many AI stocks, SYM is down today, but for investors, that means a key opportunity to buy before it starts to surge again. At less than $40 per share, the profit margins are still high.

Despite its recent volatility, Symbotic has still soared more than 130% over the past year, quietly riding the AI boom. With that in mind, it’s no surprise that during its last earnings report, the company beat its own estimates and reported 79% sales growth from the previous year. This sets a positive tone as the company prepares to continue making progress into 2024, especially as demand for workplace automation services isn’t expected to slow down.

Palantir Technologies (PLTR)

With the AI boom still going strong, it’s hard not to think about the progress Palantir Technologies (NYSE:PLTR) has made. The dynamic AI innovator is often labeled a big data analytics firm, but its exposure to the booming AI market made it a 2023 winner. Now, it’s a new year, and PLTR stock has made it clear that it has no intentions of slowing down. Its reach across many areas of the tech sector, including AI, cloud computing and cybersecurity, has helped it rise more than 183% over the past year. But even with that type of growth, it still trades at less than $25 per share, giving investors a valuable opportunity to play the AI wave for massive gains. As InvestorPlace contributor Michael Que reports:

“PLTR is set up for success through recent announcements of partnerships. The company has sizable contracts with various government agencies and a rapidly expanding list of private-sector customers. These contracts will help Palantir build up its reputation. As PLTR continues to include an emphasis on AI and machine learning, expect PLTR valuation to climb as more customers gravitate towards the company’s services.”

AI Stocks to Buy: UiPath (PATH)

This software maker hasn’t seen the same type of growth that some AI stocks have experienced. But that doesn’t mean investors shouldn’t be watching UiPath (NYSE:PATH). This robotic process automation software finally caught fire two quarters ago, and since then, share prices have more than doubled. InvestorPlace contributor Jeremy Flint has described it as a likely candidate to become “the next Palantir,” but PATH stock trades at almost the same level. Both companies are making significant progress. If it continues, both could end up being the next Nvidia or even overtaking it.

Robotic process automation may not be the most exciting part of the AI boom. It certainly doesn’t make as many headlines as generative AI. However, undervalued companies in the space are going to be in a prime position to deliver high returns for investors. And as InvestorPlace contributor Noah Bolton notes, UiPath’s software is heavily reliant on generative AI technology. That means that PATH stock can offer investors exposure to multiple areas of AI. Thus, as the AI industry grows, so should PATH stock.

On the date of publication, Samuel O’Brient did not have (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.