"Top AI Stock Picks to Buy Now and Hold Through 2024"

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Source: The Motley Fool
"Top AI Stock Picks to Buy Now and Hold Through 2024"
Photo: The Motley Fool
TL;DR Summary

As the Nasdaq Composite is expected to surge in 2024, two AI stocks, Advanced Micro Devices (AMD) and Super Micro Computer (SMCI), are recommended for investment. AMD has seen significant growth due to its AI infrastructure products, such as the Instinct MI300 accelerators, and is expected to continue this trajectory with a target of $2 billion in MI300 revenue for 2024. Super Micro Computer is capitalizing on the AI market with its LLM-optimized AI platforms and energy-efficient server solutions, expecting significant revenue growth. Both companies are well-positioned to benefit from the anticipated economic recovery and increased demand for AI technologies.

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