Thu Aug 08 2024, by Tyler Gardner

Eight Ways to Invest in Artificial Intelligence Without Investing in AI Companies

I'm Tyler, a former financial advisor and portfolio manager. Now, I create financial content for free to help you understand smart investment strategies.

This approach is known as the picks and shovels method of investing. Instead of directly investing in artificial intelligence companies, we focus on the providers of the critical tools and resources that make AI advancements possible. Here are eight ways to do so:

1. Invest in NVIDIA and AMD

These companies produce GPUs and CPUs, essential components for powering AI technologies.

2. Invest in Amazon and Microsoft

Both companies deliver cloud services, supporting the data needs of numerous AI applications.

3. Invest in Snowflake or Splunk

These platforms are crucial for data storage solutions that underpin AI systems.

4. Invest in Cisco or Arista

They provide the software that supports data centers necessary for handling AI workloads.

5. Invest in Palantir

This company specializes in big data analytics, crucial for AI data processing.

6. Invest in GitHub and Microsoft

As key players in code sharing and collaboration, these companies foster innovation within the AI development community.

7. Invest in ASML and AMAT

These companies supply photolithography machines and fabrication equipment essential for semiconductor operations, a backbone for AI hardware.

8. Invest in CrowdStrike or Palo Alto

As leaders in cybersecurity and endpoint protection, they help secure AI applications and infrastructures.

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