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11 Fastest Growing AI Stocks To Invest In Now

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In this article, we will be taking a look at the 11 fastest growing AI stocks to invest in now. To skip our detailed analysis of the artificial intelligence sector, you can go directly to see the 5 Fastest Growing AI Stocks To Invest In Now.

Tech: A High-Growth Sector

If you're looking for high growth stocks to invest in, the tech sector is one of the best places to start. Specifically, artificial intelligence (AI) stocks can be exceptional additions to any growth portfolios as this revolutionary technology continues to expand and grow to bigger heights than ever seen before. However, the fact that AI is an exciting place to invest in right now does not automatically mean that every AI stock in the market is a good growth pick for investors. Resultantly, it's important to ensure that investors carefully pick out the AI stocks that can actually deliver on their promises of growth instead of the ones that can't.

On March 15, Eric Lynch, the Portfolio Manager at Scharf Investments, joined CNBC's "Squawk Box" to discuss this dilemma in the AI space where investors may not know which businesses can actually grow their earnings. Here's what he had to say:

"We're at a kind of 'where's the beef?' moment for AI, where all the promises need to be delivered this year. If you look at investors' reactions to several AI stories in the past week, you know Broadcom, Marvell Technology, Oracle, and most recently with Adobe yesterday, what you're seeing is a reaction to slower growth than expected."

Winners in Artificial Intelligence in 2024

According to Lynch, many AI companies today are lagging behind on their promises and cannot perform on par with the expectations leveled at them. As a result, it is becoming ever more important to separate the winners from the losers in this space. Lynch noted the following on which companies he sees as winners in AI:

"Obviously the chipmakers and the hyperscalers, we've seen that in the stock prices, NVIDIA, Microsoft, AWS, and most recently, Oracle. Oracle is really guiding for 50% infrastructure cloud growth going forward, because its use case was really generative AI, that it needed for its superior tech stack. So, these names are really benefitting."

These "winning" AI stocks, such as NVIDIA Corporation (NASDAQ:NVDA), Microsoft Corporation (NASDAQ:MSFT), and Apple Inc. (NASDAQ:AAPL), are also among the top high growth stocks in the tech and AI sector today and have exciting developments brewing in 2024. For instance, NVIDIA Corporation (NASDAQ:NVDA) has its GTC Conference coming soon this March, where CEO Jensen Huang will deliver a keynote on what to expect from the company this year. Stifel's equity research analyst, Ruben Roy, joined CNBC's "Closing Bell" on March 15 to discuss what to expect from the keynote. Here's what he said: