These 2 AI Software Stocks Are Through the Roof. Dan Ives Says There’s Still Time to Buy.

As an investment theme, artificial intelligence stocks have been one of the best in the stock market for several quarters. Since Jan. 1, 2024, the Nasdaq CTA Artificial Intelligence Index, which tracks the software, hardware, and service providers in the industry, is up 118%. And the Global X Artificial Intelligence & Technology ETF (AIQ), which tracks AI and big data stocks, is up 101%. Both of those handily beat the 59% return of the S&P 500 in that same time.

But don’t despair if you’ve still not brought some of these AI stocks into your portfolio. Wedbush analyst Dan Ives, who is recognized as one of the top AI and tech analysts on Wall Street, says that the AI boom still has plenty of staying power. He estimates that companies will eventually spend $4 trillion on AI development and implementation, which will fuel growth throughout the industry.