It's been just over three years since OpenAI released ChatGPT. The rapid adoption of that chatbot kicked off a massive wave of artificial intelligence (AI) activity. Businesses are sparing no expense to innovative in the space and build out the necessary infrastructure to be at the forefront. Investors must pay attention.
Here's one of the best AI stocks you can buy now and hold for the next 10 years.
Image source: Alphabet.
Alphabet is a top AI enterprise
Alphabet (GOOGL 1.66%) (GOOG 1.69%) has been a leading internet enterprise for a long time. Today, it's a dominant force when it comes to AI.
Alphabet is involved in AI research. It develops its own specialized chips, known as Tensor Processing Units. With Google Cloud, it has a thriving cloud computing platform that allows corporate customers to leverage its AI capabilities. Its Gemini app, with its family of AI models, has 650 million monthly active users.
And the company is integrating AI to improve the experience for its advertising customers and the billions of users it has on its various apps.
NASDAQ: GOOGL
Key Data Points
The stock is poised to remain a long-term winner
Alphabet shares have climbed 712% in the past decade (as of Dec. 19). Investors shouldn't expect the same gain over the next 10 years, though.
But the stock trades at a reasonable forward price-to-earnings ratio of 27.5. And Alphabet continues to report double-digit earnings growth. These are the key tailwinds that should benefit investors going forward.
