Is AI Stock Poised to Double? The Strong Bull Case for

Stocks to buy

Artificial intelligence has emerged as a significant technological force, with potential breakthroughs in healthcare and industry. For investors eyeing (NYSE:AI) post-2023 rally, determining its leadership potential requires scrutiny. This article delves into that scrutiny for AI stock.

Despite initial losses,’s doubled stock in 2023 suggests optimism. The company is well-positioned to tap into the expanding AI software market, which is projected to be worth more than $250 billion by several reputable sources.

Here’s why stock can be the next big thing in the AI sector.

Expansion of AI with Amazon’s stock rose by more than 7% on Tuesday following the expansion of its strategic collaboration agreement with Amazon (NASDAQ:AMZN) Web Services (AWS). The original 2016 deal involved AWS utilizing C3 AI’s products to address business challenges across various industries, including manufacturing, utilities, and government sectors. announced an updated strategic collaboration agreement, emphasizing the joint focus on delivering advanced generative AI solutions for enterprises. CEO Thomas Siebel highlighted efforts to enhance data retrieval and analysis efficiency, enabling rapid user onboarding. C3 AI’s stock surged, marking a nearly 170% gain in 2023, driven by robust AI product demand. Amazon shares also rose over 2%, contributing to a 70% increase in their value this year.

Heavy Concentration on AI, headquartered in Redwood City, California, produces configurable AI software for various applications, enhancing network reliability in fraud detection, inventory management, supply chain problem-solving, and energy efficiency. Despite a 15% gain in July amid the AI surge, the stock declined by 26% in August and another 18% in September, with an additional 2% decrease in October.

In February, AI stock surged as OpenAI’s ChatGPT app gained popularity, attracting 100 million monthly active users in two months, surpassing TikTok and Instagram. Developed in partnership with Microsoft, ChatGPT assists users in writing emails, coding, and answering daily queries using natural language.

Suppose’s key platform can gain the sort of attention and notoriety ChatGPT has and garner the kind of attention from the corporate clientele the company aims at. In that case, it’s clear this stock could be poised for some considerable revenue and future profit upgrades.

Profits Are In Progress for

In September, projected fiscal 2024 revenue between $295 million and $320 million, with a non-GAAP operating loss of $85 million at the midpoint. Despite ongoing business wins,, with its modest revenue and market cap of $3 billion, is seen as an appealing target for larger firms seeking AI growth and an aggressive growth investment for those with a longer-term investing time horizon.

The company’s early recognition of AI’s significance in the tech industry warrants acknowledgment, even though work must be done before achieves large-cap status. If you’re considering buying AI stock, it may be worth waiting for the company to be profitable.

That said, as with most early-stage investments, waiting too long can result in investors giving up too much potential upside relative to a given company’s potential. Right now, I’m on the sidelines regarding this name, but it’s undoubtedly an intriguing pick for those who believe lower rates are on the horizon and we’re due for another boom.

On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.

Chris MacDonald’s love for investing led him to pursue an MBA in Finance and take on a number of management roles in corporate finance and venture capital over the past 15 years. His experience as a financial analyst in the past, coupled with his fervor for finding undervalued growth opportunities, contribute to his conservative, long-term investing perspective.

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