Technology stocks have soared in recent years, and some may have even helped investors' portfolios reach the million-dollar mark. I'm talking about companies such as Nvidia and Palantir Technologies, which climbed nearly 800% and more than 1,700%, respectively, over three years. Investors piled into the stocks for their strengths in artificial intelligence (AI) and the fact that this translated into significant revenue growth.
But the possibility of becoming a millionaire thanks to a technology investment isn't over. As AI and quantum computing -- two of the most-watched technologies today -- advance, companies in these fields may deliver big returns. Let's check out two tech stocks that could help you become a millionaire down the road.
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1. CoreWeave
CoreWeave (CRWV 8.76%) stock has climbed more than 120% since its initial public offering last year, but it still may have plenty of room to run. This is because the company may be in the early days of its revenue growth story. CoreWeave delivers something AI customers need a lot of right now and probably will need a lot of in the future too: capacity for workloads.
NASDAQ: CRWV
Key Data Points
Customers turn to CoreWeave for access to its armada of top graphics processing units (GPUs), renting them for short or long periods of time. This allows customers flexibility and saves them time and money. This service clearly is popular because CoreWeave has seen revenue climb quarter after quarter -- more than doubling to $1.3 billion in the most recent period.
As companies continue to search for compute, CoreWeave, as an AI specialist, is well positioned to benefit -- and that could supercharge the stock's performance in the quarters to come.
2. IonQ
IonQ (IONQ 8.04%) is a pioneer in the high-potential area of quantum computing. This type of computing relies on concepts of quantum mechanics, using the interaction of subatomic particles for compute. The benefit? The particles, known as qubits, can scale exponentially and therefore solve problems that are out of reach today.
This quantum player uses trapped ions as qubits, and this technique offers two key advantages over other qubit types: greater accuracy and the ability to compute for longer periods of time. Delivering reliable results is key, so this could push IonQ ahead even if superconducting methods remain somewhat faster.
NYSE: IONQ
Key Data Points
IonQ is a pure play quantum company, meaning it specializes in this field and relies on it for revenue. At the moment, it offers access to its quantum hardware to customers, but, like rivals, it's still working toward the goal of developing a generally useful quantum computer.
All of this means IonQ comes with some risk, but for aggressive investors willing to accept this, the stock could eventually be the ticket to massive gains -- and even help you become a millionaire.
