The AI revolution is in full swing, and savvy investors are taking notice. Recently, renowned market expert Jim Cramer made a bold prediction about two artificial intelligence stocks that are primed to make a comeback.
Cramer’s pick is based on the classic contrarian strategy: buying beaten-down stocks that are due for a rebound. Two AI stocks that fit the bill are Alphabet’s (Google) AI-focused subsidiary DeepMind and NVIDIA, a leading provider of AI computing hardware. Both companies have taken a hit in recent months, with DeepMind’s parent company Alphabet seeing its stock dip by 24% and NVIDIA plummeting by a whopping 46%.
But don’t count these AI leaders out just yet. Cramer believes that both companies are poised to bounce back, thanks to their cutting-edge technology and growing demand for AI solutions. DeepMind, for instance, has been making waves with its AlphaFold protein structure prediction tool, which has the potential to revolutionize the field of medicine. NVIDIA, meanwhile, is dominating the market for AI computing hardware, with its GPUs (Graphics Processing Units) in high demand by top tech companies like Google, Amazon, and Microsoft.