In JPMorgan Chase's annual shareholder letter, CEO Jamie Dimon said that while we don't yet understand the full impact artificial intelligence (AI) will have on society, he's convinced the "consequences will be extraordinary."

Dimon goes on to suggest that generative AI could be "as transformational as some of the major technological inventions of the past several hundred years: Think the printing press, the steam engine, electricity, computing, and the Internet, among others."

This represents a tangible opportunity for investors to profit from this secular tailwind.

Two AI stocks to buy if Dimon is right

The uncontested early winner in the AI revolution is Nvidia (NVDA 0.03%), and it appears poised to continue succeeding. The company's graphics processing units (GPUs) provide the computational horsepower necessary to fuel these next-generation algorithms, and its dominance is incontrovertible. Nvidia controls 95% of the market for processors used in machine learning -- an established branch of AI, as well as a 95% market share in data center GPUs.

This one-two punch has fueled Nvidia's meteoric rise. The stock is up more than 220% over the past year, driven by triple-digit sales and profit growth for three successive quarters -- and management's forecast is calling for another. Yet Nvidia boasts a price/earnings-to-growth (PEG) ratio of less than 1, the standard for an undervalued stock.

Another big winner is Microsoft (MSFT -1.00%). The company was an early adopter of generative AI, developing a suite of productivity-boosting AI assistants called Copilots. A study of Copilot users reported that 70% said they were more productive, 68% said it improved the quality of their work, and 77% said they "didn't want to give it up."

The company has yet to report a full quarter since Copilot for Microsoft 365 was launched, so we don't yet know the full impact on its financial results. That said, some analysts estimate that Copilot adoption could generate as much as $100 billion in incremental revenue for Microsoft. And at 36 times forward earnings, the stock is a steal compared to the opportunity that lies ahead.