Artificial Intelligence (AI) Spending Is Set to Hit $631 Billion in 2028: 1 Magnificent Stock to Buy Right Now Before That Happens

Market research firm IDC recently released a report stating that the global artificial intelligence (AI) market is now worth $235 billion, and the good part is that this technology still has a lot of room for growth over the next five years.IDC estimates that global spending on AI and generative AI could hit $631 billion in 2028. There are several ways for investors to benefit from this massive opportunity. From hardware companies such as Nvidia to software providers such as Palantir and cloud computing companies such as Oracle, investors can be spoiled for choice when looking to buy an AI stock right now.Cloudflare (NYSE: NET), however, may not be on many investors' minds when scouting for an AI stock to add to their portfolios. The company has made its name in the cybersecurity industry by helping customers secure their internet connections while improving the reliability and quality of the connections at the same time. However, it is now making a concerted push in the AI market as well.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool