Investing in Artificial Intelligence (AI) has become an increasingly popular choice for investors looking to capitalize on the growth of this industry. Two stocks that are considered solid bets in the AI space are Celestica (TSX:CLS) and OpenText (TSX:OTEX) [1b46052e].
Celestica, a Contract Electronics Manufacturer (CEM) based in Canada, is well-positioned to benefit from the growth of AI due to its position in the tech industry. The company provides manufacturing services to various industries, including AI. Celestica has a connection to Nvidia through the supply chain and manufacturing services. The company recently reported strong financial performance with earnings per share (EPS) of $0.86 and revenue of $2.21 billion in the first quarter of 2024 [9983ece4]. As the demand for AI-related products and technologies continues to rise, Celestica stands to benefit from increased orders and revenue. The company has already seen significant growth and offers potential for investors looking to invest in the AI sector [1b46052e].
OpenText, another Canadian company, actively incorporates AI into its core business offerings. OpenText has a collaborative relationship with Nvidia centered on leveraging AI and machine learning technologies. The company integrates Nvidia's GPUs and AI capabilities into its enterprise information management solutions. Despite a 20% decline in OpenText stock in the last year, it presents a potential opportunity for investors [9983ece4]. OpenText provides software solutions for information management, and its AI capabilities enhance its products and services. The company's AI-driven solutions help organizations automate processes, extract insights from data, and improve decision-making. OpenText has experienced strong growth and has a solid track record in the AI space, making it an attractive option for investors interested in AI stocks [1b46052e].
Both Celestica and OpenText have demonstrated their ability to capitalize on the opportunities presented by the AI industry. With their strong growth and focus on AI-related products and services, these stocks offer potential for investors looking to invest in the future of AI [1b46052e].
The potential of artificial intelligence (AI) to transform the world is discussed in a recent article from The Motley Fool [f093b588]. The article highlights key players in the AI industry, including OpenAI, Microsoft, and Nvidia, who are at the forefront of AI innovation. Microsoft and Nvidia are expected to outperform the S&P 500 due to the unstoppable AI superbuild. The article also mentions AeroVironment and Teradyne as compelling AI-adjacent plays [f093b588].
The article emphasizes the need to embrace AI and invest in high-quality AI-centric stocks to hedge against risks and take advantage of the transformative nature of AI. OpenText and Celestica, with their strong presence in the AI space, are excellent options for investors looking to turbocharge their portfolios with AI stocks [f093b588].