2 Unstoppable Artificial Intelligence (AI) Stocks Up 159% and 217% in 2023 to Buy in 2024

Artificial intelligence (AI) swept investors into a frenzy in 2023. It all started with Microsoft‘s $10 billion bet in January on generative AI start-up OpenAI, which develops the famous ChatGPT online chatbot. Then in September Amazon invested $4 billion in OpenAI rival Anthropic.

But those trillion-dollar tech giants weren’t the only ones scooping up AI assets. Everyday investors identified several small-cap AI stocks with explosive potential throughout the year, including C3.ai (NYSE: AI) and Upstart Holdings (NASDAQ: UPST). Those stocks recorded gains of 159% and 217%, respectively in 2023, and 2024 could bring more upside.

Here’s why it isn’t too late to buy into those opportunities in the new year.

1. C3.ai’s revenue growth is set to accelerate

Founded in 2009, C3.ai was one of the first companies ever to provide AI products and services to businesses. Today it has developed over 40 ready-made and customizable applications to bring AI to at least 10 different industries, accelerating its customers’ adoption of the technology.

For example, the C3.ai Demand Forecasting platform can help businesses improve the accuracy of their forward sales projections by up to 15%. That allows them to maintain more appropriate inventory levels and pricing, which leads to happier customers.

Similarly, C3.ai Reliability is the ultimate predictive maintenance tool, and can slash unplanned equipment downtime in half by detecting unusual activity before it leads to catastrophe. It’s used by some of the world’s largest organizations, including Shell and the U.S. Air Force.

C3.ai’s revenue growth slowed to a crawl over the last 18 months. It was the expected temporary consequence of a major shift away from subscription-based deals and toward consumption-based deals. Subscriptions require lengthy negotiations between C3.ai and the customer, which increases acquisition costs and slows the onboarding process. By moving to a consumption model, customers can come and go as they please and…