The artificial intelligence (AI) revolution is just getting started.
Global consultancy McKinsey & Co. estimates that companies will invest “almost $7 trillion in global data center infrastructure capital expenditures by 2030.” The firm’s report observes that this spending figure is roughly the size of the combined GDP of Japan and Germany. “In the United States, AI-related capital expenditures account for about 5% of GDP and have been growing at high-single- to low-double-digit pace,” the report concludes. These elevated growth rates are estimated to persist well into the next decade, and perhaps beyond.
Want to take advantage? You can do so by buying AI stocks directly. But the smartest move may be to buy stocks not traditionally thought of as “AI stocks” but that still have direct AI exposure. This way, you expose your portfolio to the growth in artificial intelligence at a discount. To accomplish this, start your research with the two stocks below, both of which have monster growth potential thanks to AI.
Image source: Getty Images.
1. This Tesla competitor should benefit directly from AI
When it comes to electric vehicle (EV) stocks, Tesla (TSLA 1.08%) gets most of the attention. And it’s clear that Tesla believes the future of electric cars will be heavily influenced by AI. The company recently outlined its expected capital expenditures of 2026, and the budget is dominated by AI investments. Plus, the company recently agreed to invest $2 billion into xAI, Elon Musk’s AI start-up.
Why is Tesla investing so heavily into AI? Because AI is looking like a prime enabler of self-driving capabilities. By 2030, we could see tens of thousands of robotaxis roaming the streets of many major countries, the U.S. included. If an EV maker can’t offer fully autonomous vehicles, it will miss out on this growth opportunity, which some experts predict will ultimately be worth up to $10 trillion globally.
Tesla stock, however, appears to already price in much of this growth. Despite years of declining auto sales, shares still trade above 13 times sales. Fellow EV maker Rivian (RIVN +3.06%), meanwhile, trades closer to 3 times sales — a massive relative discount. And yet Rivian is also investing heavily into AI and autonomy. It’s investing so heavily, in fact, that management has pushed out its timeline for reaching profitability due to elevated levels of capex investment.
Today’s Change
(3.06%) $0.45
Current Price
$15.14
Key Data Points
Market Cap
$19B
Day’s Range
$14.88 – $15.62
52wk Range
$10.85 – $22.69
Volume
866K
Avg Vol
30M
Gross Margin
-276.59%
“The company is pouring resources into developing self-driving technology at a pace that makes its original profitability timeline impossible to hit,” reads a recent report from The Tech Buzz. “It’s the kind of move that reveals how the ground is shifting beneath the entire auto industry — build great electric vehicles and you’re still just another car company, but crack autonomous driving and you’re a mobility platform with trillion-dollar potential.”
The jury is still out on whether Rivian’s seismic bet on AI will pay off. But the upside potential is clear versus a relatively cheap valuation.
2. The $10 trillion nuclear renaissance has begun
NuScale Power (SMR +7.64%) is another promising stock that, while focused on the energy sector, has direct growth exposure to rising AI spending.
Today’s Change
(7.64%) $0.70
Current Price
$9.86
Key Data Points
Market Cap
$3.1B
Day’s Range
$9.65 – $10.21
52wk Range
$9.14 – $57.42
Volume
29M
Avg Vol
24M
Gross Margin
33.84%
Electricity demand in the U.S. is surging. Through 2030, electricity demand is expected to grow by around 4% annually. That may not seem like much, but from 2005 to 2020, annual growth averaged close to 0%.
What’s driving this demand? One thing: artificial intelligence. From 2024 to 2030, AI’s share of U.S. electricity demand is expected to triple, from 4.3% to 11.7%. Unless there’s a seismic shift in how data centers are designed and operated, the AI industry will need more and more energy on an annual basis. This is where NuScale Power hopes to capitalize.
NuScale Power’s approach to nuclear — specializing in SMR technology, which uses small modular reactors — still isn’t market tested at scale. There are significant concerns regarding costs, construction times, and customer appetite. But experts expect the nuclear renaissance to be worth up to $10 trillion globally, and SMR technology should play a large role in that opportunity.
Nuscale Power’s $3.4 billion market cap should prove a bargain if its technology takes off. But keep in mind that its first plant isn’t expected to generate power until 2030 at the earliest. So this monster stock opportunity will take plenty of patience to see through, with heavy share dilution along the way.
