Generative AI Revenue on Track to 10X by 2030: 1 AI Stock That Will Benefit (Hint: It's Not Nvidia)

Investor excitement for artificial intelligence (AI) might be overhyped today. The stock market can at times seem like a manic-depressive being, exaggerating any positive or negative developments with rapid share price swings. With AI stocks like Nvidia soaring tenfold in just a few years, it is possible these stocks will head into a correction, given that they are priced for perfection at the moment.This doesn't change the fact that the generative AI sector is still in the early innings of growth. Some analysts estimate that spending on generative AI alone will reach $356 billion in 2030, growing at a 46% annual rate over the next six years, making it one of the fastest-growing sectors in the world. That would be up from an estimated $36 billion this year. With its premium valuation, a company such as Nvidia already has a lot of this growth priced into its stock.However, there is one reasonably priced AI stock hiding in plain sight: Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG). Here's why the technology giant will benefit from surging demand for generative AI through 2030.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool