The artificial intelligence (AI) revolution has triggered a multi-year investment cycle across the enterprise. Additionally, generative AI is now permeating various consumer internet applications. These trends bode well for AI wealth-building stocks.
Moreover, according to Capital Group, big tech giants are raising their capital expenditure budgets and will spend an estimated $500 billion over the next three years. This spending will go toward chips, particularly graphics processing units (GPUs) and application-specific integrated circuits (ASICs). Plus, a substantial proportion will cover memory, servers and network equipment. This means more profits will flow to these three AI wealth-building stocks.
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