3 AI Stocks That Can Make You a Millionaire by 2025
AI technology is on the verge of mass adoption and could potentially lead to a $1.8 trillion AI boom, creating new millionaires. According to Bank of America, AI stocks could be on the brink of an “iPhone moment” and increase the global economy by $15.7 trillion in seven years. Large language models like ChatGPT are helping us capitalize on the data revolution, with ChatGPT reaching one million users in just five days and one billion cumulative visits in three months. This exponential growth is just the beginning, and three “no-brainer” AI stocks to buy are SoundHound (SOUN), First Trust Nasdaq AI ETF (ROBT), and C3.ai (AI), according to experts.
SoundHound (NASDAQ:SOUN) is a company that develops conversational AI technology with the aim of enabling humans to interact with technology as if they were interacting with their friends. The company is also working with the auto industry to integrate voice assistants into vehicles, which could be a significant market for SoundHound, as it expects 90% of new cars to have voice assistants.
SoundHound’s earnings have been impressive, with the company posting 2022 revenue of $31.1 million, which was at the high end of its guidance. The company expects its revenue to increase by approximately 50% this year. According to Keyvan Mohajer, CEO of SoundHound, conversational AI is at a watershed moment, and their proprietary Dynamic Interaction and Generative AI solutions are perfectly positioned to benefit from this. As a leading innovator of voice and conversational AI, SoundHound is in a unique position to create tremendous value in the market.
First Trust Nasdaq AI and Robotics ETF (ROBT)
The First Trust Nasdaq AI and Robotics ETF (ROBT) is a great way to invest in AI and robotics companies. This ETF has an expense ratio of 0.65% and tracks companies involved in AI, robotics, and automation. Its holdings include companies that develop AI, create robotics or AI themselves, or provide AI and/or robotics services. Some of the top holdings of the ETF are C3.ai (AI), Pegasystems (PEGA), Valeo (VLEEY), ANSYS (ANSS), and UiPath (PATH). By investing in this ETF, investors can get exposure to a diverse portfolio of companies involved in the AI and robotics industry.
C3.ai (NYSE:AI) CEO Tom Siebel predicts that AI could soon be a $600 billion addressable software market. He believes that enterprise AI applications will become as ubiquitous as PCs, relational databases, and CRM. C3.ai is the largest application player in the space, and it is making money by developing AI solutions and software for large firms in several industries, including Microsoft, Amazon, and Alphabet.
Last quarter, C3.ai posted revenue of $66.7 million, which was ahead of the company’s guidance range and analysts’ average estimate. Although the company posted a loss, excluding certain items, of $15 million, it was better than its guidance range. C3.ai is on track to be cash positive and profitable, excluding certain items, by the end of 2024.
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