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

Imagine not fearing the disruption caused by artificial intelligence (AI) and instead getting rich from the game-changing innovations that technology creates. This isn’t just possible for tech geeks or billionaire hedge fund managers. You too could build massive wealth by investing in the AI ​​titans of tomorrow.

But you have to choose your investments wisely.

To help you in your pursuit of these wealth builders, read on to learn more about two companies pioneering some of the world’s most cutting-edge AI.

AI shares to buy no. 1: Palo Alto Networks

AI will be built in the cloud. Palo Alto Networks (PANW 1.26%) helps companies defend their most critical cloud networks. The cybersecurity leader is using artificial intelligence to strengthen its clients’ defenses at a time when the cost of cyber hacks is exploding and breach prevention is only becoming more critical.

Failure to protect valuable trade secrets or sensitive customer data can result in devastating financial losses, regulatory penalties and reputational damage. Just take a quick look at the cost estimates for CrowdStrikeits disruption earlier this year to understand the scale of potential losses. The rival cybersecurity vendor’s system failures are expected to cost its customers $5.4 billion.

With competition from its competitors, Palo Alto’s position at the top of the cyber defense industry should continue to be assured. CrowdStrike’s woes will likely fuel Palo Alto’s gains, too. The cloud guardian is already growing at an impressive clip. Palo Alto’s annual recurring revenue for its next-generation security offerings rose 43% year over year to $4.2 billion in the quarter ended July 31.

Palo Alto’s platform-based approach is clearly resonating with customers. With state-of-the-art firewalls, advanced threat prevention tools, and a range of ancillary cybersecurity solutions, Palo Alto offers a more streamlined and more seamlessly integrated offering than alternatives that attempt to combine a number of single service providers. In this way, it is able to decrease the complexity of its customers’ security systems and shorten the incident response time.

Palo Alto’s scale helps widen its competitive moat. Cloud sentinel collects a massive amount of data from its more than 80,000 enterprise customers, which enables its machine learning technology to continuously become smarter. And once its AI-based platform identifies a new threat, it quickly updates its protections to protect its customers from the threat.

These advantages position Palo Alto to claim a larger share of a rapidly expanding cybersecurity market that is set to exceed $500 billion by 2030, according to Grand View Research. Invest in Palo Alto’s stock today and you can profit handsomely with this top AI-powered cloud defender.

AI shares to buy no. 2: Palantir Technologies

Like Palo Alto Networks, Palantir Technologies (PLTR 1.55%) is becoming an invaluable AI partner for a growing number of enterprises and government organizations. The analytics specialist helps its customers tap into valuable insights from their data faster than ever before.

Palantir’s award-winning machine learning technology can identify patterns from a wide range of data sources. Its software enables real-time operational decision-making by integrating AI into its customers’ daily workflows.

Palantir’s AI solutions are valued by the US military and its allies. The Department of Defense has awarded Palantir a contract worth up to $480 million to bring its AI-enabled decision-making tools to battlefield commanders and senior staff. The government of Ukraine, meanwhile, is using Palantir software to speed up its demining efforts.

Companies are also flocking to Palantir’s new artificial intelligence platform (AIP). The energy management giant Eaton uses AIP to strengthen its data management and resource planning capabilities. Palantir also helps chain restaurants at Wendy’s digitize their supply chain and accelerate the adoption of AI-based automation.

In addition, Palantir recently expanded its partnership with Microsoft. The two technology leaders are working together to bring a suite of advanced AI applications and analytics capabilities to US defense and intelligence agencies.

These deals accelerate Palantir’s expansion. Its adjusted operating income rose 37% year over year to $254 million in the second quarter, driven by a 27% increase in revenue to $678 million. That marked a significant acceleration from the 21% revenue growth the AI ​​leader delivered in the first quarter. An 83% increase in U.S. commercial customers should fuel more profit gains for Palantir and its shareholders next year.