4 Top Stocks For The AI Revolution

–News Direct–

This year will be a pivotal year for the future of AI, as researchers and enterprises seek to establish how this evolutionary leap in technology can be most practically integrated into our everyday lives.

With the growing popularity of consumer generative AI programs like Googles Bard and OpenAIs ChatGPT, the generative AI market is poised to explode, growing to $1.3 trillion over the next 10 years from a market size of just $40 billion in 2022, according to a new report by Bloomberg Intelligence (BI).

For investors looking for unconventional opportunities in AI with the potential for long-term growth, one company that stands out is SKYX Platforms Corp. (NASDAQ:SKYX).

The company is on an ambitious mission to make homes and buildings smart, advanced, and safe as the new standard by leveraging its proprietary patented platform technologies for smart home and electrical installations, including its new game-changing all-in-one smart home platform technology.

SKYXs smart home game-changing technologies have won seven CES awards (Consumer Electronic Shoe) in the past 12 months.

SKYXs disruptive high-end all-in-one smart platform enables new and existing homes or buildings to become smart instantly, while significantly simplifying, saving time-cost and lives.

This is possible for the first time in history thanks to the firm's patented technology called Sky Plug-Smart, which is designed for plug and play installation of weight-bearing electronics such as light fixtures, ceiling fans, and other electrical products. The plug fits into SKYXs ceiling receptacle, called the SKYreceptacle, which provides a novel way for home and building owners to wire electrical outlets.

While it is not Nvidias new AI chips, this is revolutionary, and its unique location on the ceiling will maximize the performance of AI chips among other smart home integrated products and software.

Base on its safety aspects for first time in 120 years, the definition of the electrical receptacle was changed in the NEC Code Book to include the Sky Ceiling Receptacle, and this could perhaps be the most significant addition to the NEC Code in the past 40 years.

To put that in better context, consider this: Safety is a major area of concern when it comes to electrical and smart home installation, and existing data shows that the wiring of light fixtures and ceiling fans results in millions of hazardous annual installations. In fact, research conducted from 2015 to 2019 by the National Fire Protection Association (NFPA) showed that lighting products accounted for 430 civilian deaths per year, not including shocks and electrocutions, fires, and ladder falls.

The sky receptacle creates a new electrical ceiling safety standard that limits potential exposure to wires by cutting down on 80% of the time needed to touch wires during the first installation and completely eliminating the need to touch outlet electrical wires after the first installation. It also saves approximately 90% of the time on a ladder.

ANSI / NEMA (American National Standardization Institute / National Electrical Manufacturing Association), whose recent vote to approve Skys Ceiling Receptacle Specifications further reaffirms the products potential to become a major disruption to the electrical installation industry. Additionally, the American Institute of Architects (AIA) voted to include SKYX in their annual mandatory continuing education systems course for 94,000 architect members as part of annual license renewal training.

With all these professional bodies giving SKYX a nod of approval, its easy to see why its proprietary technology could become the new standard for home and building electrical installation and also instrumental in helping the company make inroads in AI.

The SkyPlug and Receptacle are the foundations that create a platform for all fixture types and integration possibilities. Think smoke and carbon monoxide detectors, premium smart speakers, color-changing room ambiance and night lights, emergency internet, house intercom features, and more. All these products can then be linked to the SkyHome application that works with both iPhones and Android phones to control features and specifications of connected devices, such as scheduling and eco/energy-saving mode. It also integrates with AI home assistants Siri, Alexa, Google Home, Samsung SmartThings, Cortana, and more.

Parks Associates research shows that in the US, internet households now own an average of 16 connected devices, an increase from 13 connected devices in 2021, and SKYX is well positioned to benefit from this trend. With this massive opportunity spanning every room, recent figures put the TAM at $500 billion in the US alone. This explains why GE Technology Development, Inc. ("GE") recently signed a five-year renewal global licensing master service agreement to license certain SKYX advanced and smart technologies in the U.S. and worldwide.

Mobileye Global Inc. (NASDAQ:MBLY) offers best-in-class technology for advanced driver-assistance systems (ADAS) and is like the Nvidia of the automotive industry. The company controls nearly 70% of the world's advanced driver assistance system (ADAS) market, making it attract considerable attention from AI investors. Its systems use cameras, sensors, and Mobileye's own EyeQ computer vision chips to add assisted parking, single-lane cruising, and other semi-autonomous features to cars. The newest "SuperVision" version of its system supports hands-free navigation capabilities and the future development of fully autonomous vehicles.

Mobileye recently released the 4Q23 results with a number of interesting highlights. The results were mostly in line with prior guidance, as the top line grew 13% from the prior year to $637 million, which was at the high end of its preliminary revenue guidance, while total adjusted operating income came in at $247 million, or 38.8% margins, which was also at the high end of its preliminary guidance of $241 million$247 million.

Unsurprisingly, SuperVision volumes in 4Q23 came in at 38,000 units, up from 29,000 in 3Q23, but what perhaps stood out the most was that Mobileye managed to significantly diversify its revenues from predominantly Chinese and electric vehicle customers to a wide range of OEMs in terms of geography.

SoundHound AI (NASDAQ:SOUN) initially targeted music recognition before leveraging its capabilities to expand into adjacent verticals. The company now believes that AI-driven customer service will be essential for every business in the future and that voice will be the primary means of interacting with devices.

To better illustrate this opportunity, a recent report revealed that Klarnas AI assistant was reportedly able to handle two-thirds of customer queries in its first month, the equivalent of 700 full-time agents, with preliminary estimates indicating that this could lead to a $40 million cost savings in 2024.

Taking the recent popularity of voice assistants with conversational abilities into consideration, the companys December acquisition of SYNQ3, a leading voice AI solutions provider in the restaurant industry, ties well with SoundHounds long-term AI strategy and should further drive revenue growth. Major companies in the restaurant and automotive industries have already shown increasing interest in SoundHound's artificial intelligence (AI) powered voice technology.

In fact, the company reported revenue growth of 80% year over year in Q4 23, an acceleration over the previous quarter's 19% growth rate, while it posted a gross margin of 77% in the period, up from 71% in the prior-year period. Despite the recent pullback in SoundHounds stock, the company's share price is still up roughly 183% in 2024 following soaring demand for the company's AI voice solutions, in addition to the news that AI chip leader Nvidia made a small investment in the company.

Nvidia (NASDAQ:NVDA) is the leading maker of chips that power one of the most important aspects in the field of AI, which is deep learning. To effectively do this, speed is crucial, and that's where Nvidia's chips come in. The company's graphics processing units (GPUs) are the fastest on the market by far, making them the preferred choice for the world's major technology companies that are building AI models. For example, earlier this month, Meta CEO Mark Zuckerberg told The Verge that Meta was building a huge stockpile of GPUs, with the company aiming to amass a total of 600,000 chips by the end of the year.

Elon Musk said that Tesla would spend more than $500 million on Nvidia AI chips alone in 2024, and while that obviously looks like a large sum of money, it is only equivalent to a $10,000 H100 system from Nvidia. Thanks to this unbelievable GPU demand, Nvidia's growth has been phenomenal. The company grew its revenue by an incredible 265% in Q4 to $22.1 billion, with Data Center revenue soaring 409% to $18.4 billion. Late last month, Nvidia became the fifth publicly traded company to ever surpass $2 trillion in valuation, just nine months after it became the ninth to ever break $1 trillion.

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SKYX, MBLY, SOUN, NVDA

COMTEX_448938300/2655/2024-03-08T05:00:20