3 $1,000 AI Stocks to Hold for Decades(Part-1)

The incredible invention of artificial intelligence (AI) is now becoming apparent as more than simply a stock market phenomenon; it will touch the globe in innumerable ways. A research conducted by PricewaterhouseCoopers (PWC) estimates that artificial intelligence (AI) has the potential to add more than $15 trillion to the world economy by the year 2030.

Finding and owning the firms that are propelling the advancement of AI might yield substantial profits for investors with a longer time horizon. So I went looking for them. Although the future is unpredictable, three businesses that appear to be strong bets right now are Nvidia (NASDAQ: NVDA), Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL), and Super Micro Computer (NASDAQ: SMCI).

Better still, you may have access to good long-term prospects by owning any one of the three companies for less than $1,000, provided you have some extra cash that isn't needed for immediate obligations.

1) The industry leader in artificial intelligence chips Nvidia is deserving of all the accolades it has received, despite being one of the best-performing stocks in 2023. With a market share of up to 90%, the company's AI chips have exploded into the lead in their sector.

Deloitte predicts that by 2027, the market for artificial intelligence chips would be worth $110–$400 billion. The market leader, which had "just" $45 billion in annual sales last year, will see huge growth as a result of this.

Unless there is a sudden and catastrophic collapse, Nvidia's top line will probably continue to expand for years, regardless of how much market share rivals like AMD take away from Nvidia. 

Considering that growth scenario, it's easier to see how the stock may maintain its performance despite a 350% increase in value over the last three years.

The expansion of artificial intelligence is expected to drive long-term earnings compounding at a rate of 42% per year. With this growth in mind, Nvidia's current projected P/E of 51 seems like a reasonable price, particularly for investors who want to purchase and keep the company to witness the promise of AI.