Investors are on the lookout for the next groundbreaking artificial intelligence (AI) stock that promises significant returns and potential market dominance, following the success of Nvidia. Renowned investor Cathie Wood has offered her observations on AI stocks that have tremendous potential. Wood said her ARK Innovation ETF fund is currently in pursuit of software stocks that are actually right now where Nvidia was when we first bought it. Specifically, she is interested in three AI-related software companies, including business automation platform UiPath, communications tools provider Twilio, and telehealth group Teladoc. All three companies have seen their share prices decline drastically from their all-time highs, suggesting they might be trading at a rare discount at the moment. All three have significant exposure to the rapidly-growing AI space.
UiPath is one of the leading Robotic Process Automation (RPA) software companies offering a platform for automating repetitive and rule-based tasks through software robots. It relies heavily on AI capabilities in its platform to enhance automation features.
Cathie Wood is the founder and CEO of ARK Investment Management. She is widely considered one of the most prominent and successful investors today, thanks to her investments in some of the most high-profile technology companies in the world. Her expertise includes investing in clusters of innovative companies that are likely to benefit from disruptive trends and technologies in the long term.
In summary, Wood believes these three stocks could attract investor attention in the future, because of their significant exposure to the rapidly-growing AI space, as well as their current stock price levels that could prove to be a bargain, considering historical potential.
