Both EV makers have made significant progress in developing self-driving technology for their cars. However, Alphabet's Waymo has a clear lead in the space, offering a commercial service in several U.S. cities and completing more than 250,000 rides per week. Uber (UBER +2.60%) has emerged as a key partner for autonomous vehicle companies looking to deploy their fleet and maximize their capital utilization, and it could be a hidden beneficiary of the growing number of self-driving cars on the road.
Artificial intelligence
Companies have recently poured billions into accelerating their AI development and applying it to their businesses. Nvidia (NVDA +1.06%) has been a big beneficiary since it designs the chips used to train many large language models (the foundation of generative AI).
Alphabet, Amazon, Microsoft (MSFT -0.02%), Oracle (ORCL +2.72%) also benefit from growth in AI applications since many run on their cloud computing platforms. Salesforce is leveraging its position in enterprise software to help companies use their own data to create AI-powered agents.
The key is to try investing in these trends and companies as early as possible. The earlier you get in, the more you stand to profit. However, the most powerful trends can last for many years -- even decades -- giving you plenty of time to claim your share of the profits they create.