Finding millionaire-maker stocks is no small task. These stocks are relatively few and far between, but they are out there. One area where investors are looking for these stocks is in the artificial intelligence (AI) realm. AI is a transformative technology that will produce several companies that can deliver incredible returns, but there will also be a lot of busts along the way.
Two stocks that I think have huge upside are SoundHound AI (SOUN +1.50%) and Nebius (NBIS +6.74%). Both of these are already rapidly growing and are slated to deliver strong returns over the next few years if their product usage ramps up. While it's unknown if these two will be millionaire-maker stocks by themselves, as part of a diversified portfolio, they could provide market-crushing returns that can accelerate your timeline to becoming a millionaire.
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Both companies are fighting to become larger
SoundHound AI provides AI-powered audio recognition software. This can be deployed in several different settings, although the current most prevalent is in restaurant drive-thrus. SoundHound AI won't be considered a successful investment until it reaches into other sectors, which it's trying to do now. It's actively signing customers in the insurance, financial, and healthcare spaces. These are industries that employ a ton of customer service agents, who could all be replaced by a general AI model if properly trained. That's a massive market opportunity for SoundHound AI to capture. If it can do that, it should generate some impressive returns over the next few years.
NASDAQ: SOUN
Key Data Points
Nebius is essentially an AI-first cloud computing provider. It's focusing on offering full-stack setups so clients can hit the ground running and deploy AI workflows to Nebius' servers. It's experiencing huge growth and expects its annual revenue to grow from $1.25 billion at the end of 2025 to $7 billion-$9 billion by the end of this year. Demand is likely to continue picking up pace in the years after that. While it may not be able to continue on this exponential trajectory, there is still a huge appetite for AI computing power that Nebius is striving to meet.
NASDAQ: NBIS
Key Data Points
While I think both of these stocks could generate monster returns if they excel in their respective markets, achieving returns from a humble investment to over $1 million is still unlikely. Both of these stocks are risky so I wouldn't invest more than 1% of my portfolio in either of them. If you require 100x returns as your threshold of what constitutes a millionaire-maker stock (which is my typical rule of thumb), then you need to invest $10,000 into each stock. At $10,000, a 1% position means you'd be a millionaire with a 100x return.
So, while I don't think these stocks have what it takes to be "millionaire makers" on their own, I do think each can outperform the market if its mission is successful, making both of them top AI stocks to buy now. Having stocks with high upside like these in your portfolio is a smart strategy, but don't forget to include some lower risk companies too to balance things out. After all, a diversified portfolio is essential for long-term success; including growth stocks like these could help put you on track to the much-coveted millionaire status.
