Investors who find themselves with $5,000 of available capital to invest not needed for monthly bills, short-term debt, and/or an emergency fund are in a great position right now. The 2022 bear market is winding down, and even if investors missed out on buying in at the bottom of the latest bear on many stocks, tech stocks are still trading off from highs and have more room for recovery and growth.

And while many artificial intelligence (AI) stocks caught fire this year, others are warming up more slowly. That means investors still have time to profit by putting their $5,000 to work with AI-related stocks like Advanced Micro Devices (AMD -0.06%) and UiPath (PATH -0.96%). Let's find out a bit more about why these two tech stocks are great buy-and-hold candidates.

1. Advanced Micro Devices

Admittedly, AMD's prospects may not look as bright when compared to Nvidia and its dominance in AI chips. This is especially true since AMD only recently released its first chip designed explicitly for AI, the AMD Instinct MI300 chip.

However, AMD has a history of catching up or sometimes surpassing its competitors. When Lisa Su became CEO in 2014, she placed all of the company's focus on central processing units (CPUs) and graphics processing units (GPUs).

That move proved successful in reviving its client (PC) business that would take a technical lead over Intel. It has also built successful segments in gaming and data centers, becoming the chip provider of choice for two gaming console brands and taking market share from Intel with data centers.

Furthermore, with the purchase of Xilinx, it is now a major player in the embedded chip business. Given that past success, it could easily find successful niches in AI.

Amid an industry slump, revenue of around $16.5 billion in the first three quarters of 2023 fell 8% from year-ago levels. Still, revenue in the third quarter grew from year-ago levels, and the $6.1 billion in fourth-quarter revenue AMD forecasts at the midpoint amounts to a 9% yearly increase.

Finally, AMD's stock price is up around 90% this year, but its price-to-sales (P/S) ratio of 9 remains well below Nvidia's 37 P/S multiple. Such a valuation arguably makes it a huge bargain as the semiconductor industry recovers.

2. UiPath

Another stock booming amid the push for AI has been UiPath. The company specializes in robotics process automation (RPA), applying AI to the robotics field. RPA integrates robotics with software, creating an end-to-end ecosystem that allows users to automate tasks.

UiPath further enhances its competitive advantage through its community, which develops and shares applications within the UiPath ecosystem. Together, members can identify needs, develop solutions, and refine systems.

Such a gathering of developers makes it difficult for a competing RPA ecosystem to gain a foothold. Consequently, it continues to attract increased interest. More than 1,900 of its customers spend over $100,000 annually on the platform, a 16% yearly increase. Of that customer base, 254 spend over $1 million annually.

Another factor is its market cap of around $10.5 billion. At this level, the robotics stock has barely achieved large-cap status, so investors may end up buying into this stock relatively early.

Moreover, its $577 million in revenue for the first six months of fiscal 2024 (ended July 31) rose 18% yearly. The 28% increase in subscription services, which now make up just over half of its revenue, accounted for most of the surge. That growth should also continue as UiPath forecasts just under $1.3 billion in revenue for fiscal 2024, a 20% yearly increase if that prediction holds.

With that growing revenue, the stock has risen by almost 50% this calendar year, and the P/S ratio is at 9. This is close to all-time lows and well below peaks in early 2021 when the sales multiple reached above 60. Amid that lower valuation, investors could take an increased interest in the stock as more customers seek the AI-driven benefits of RPA.