A group of stocks are at the helm of the artificial intelligence revolution – and they are worth buying and holding for the long run, according to Evercore ISI. Excitement around AI helped lift Nvidia to a fresh record high last week, carrying the stock to a $3 trillion valuation. The name stands out as a "generational opportunity," according to Evercore senior managing director Julian Emanuel. The chip giant is far from the only beneficiary, too.
mountain Meta Platforms stock. Despite the increase in spending, chief executive Mark Zuckerberg assured investors in April that Meta will likely successfully scale and monetize the projects. "On the upside, once our new AI services reach scale, we have a strong track record of monetizing them effectively," he said. Also on Evercore's list is Google-parent company Alphabet , which notched 169 AI mentions last year. Shares have climbed more than 25% in 2024.
mountain Alphabet stock. In the first quarter, Alphabet posted beats on the top and bottom lines, and it authorized its first dividend payment. The company's suite of AI products include its own large language model, Gemini, and Vertex AI, which targets enterprise companies. "We are well under way with our Gemini era and there's great momentum across the company," said Sundar Pichai, CEO of Alphabet, in a press release that announced the quarterly results.
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