Stocks

A Long-Term Investment Perspective: AI Stocks to Buy and Hold

Published September 15, 2024

The artificial intelligence (AI) revolution is not merely an impending future — it's a reality that's unfolding before our eyes. As technology advances, investing in companies at the forefront of AI innovation has the potential to yield significant returns over the long term. For those looking to invest $1,000 in stocks with strong growth prospects in the field of AI, there are two tickers to consider keeping in your portfolio for decades: NVDA and DOCN.

Nvidia Corporation: The Graphics and AI Pioneer

Nvidia Corporation NVDA, with its headquarters rooted in Santa Clara, California, is a titan in the technology sector. Renowned for its cutting-edge graphics processing units (GPUs), which are essential for gaming and professional applications, Nvidia has also successfully expanded into the development of system on chip units (SoCs) for the ever-evolving mobile and automotive industries. The company's relentless innovation makes it a major player in the AI landscape, providing the computational power needed to drive breakthroughs in machine learning and autonomous systems. By holding NVDA stock, investors are poised to capitalize on the company's continued dominance and expansion in AI.

DigitalOcean: Empowering Developers with Cloud Solutions

DigitalOcean Holdings, Inc. DOCN may not be as widely recognized as Nvidia, but it plays a crucial role in providing an accessible cloud computing platform. Headquartered in New York, New York, DigitalOcean specifically caters to developers, startups, and small to medium-sized businesses, offering them essential platform infrastructure and tools that are simple to deploy and manage at scale. This democratization of cloud services aligns perfectly with the growth in AI, as numerous AI applications and experiments are deployed in cloud environments. Investing in DOCN serves as an investment in the infrastructure that underpins AI's continued expansion and is an attractive option for those betting on the increased adoption of cloud services among tech innovators.

Investment, AI, Long-term