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Artificial intelligence (AI) continues its dominance in the markets, propelling tech stocks to unprecedented heights and captivating the attention of investors, media, and government alike. As we transition into 2024, the allure of AI remains unyielding, with companies steadfastly positioning themselves to harness the immense growth potential of this revolutionary technology.

The surge of investments in generative AI and AI-related startups, totaling close to $50 billion, underscores the growing enthusiasm for AI and its myriad applications in modern society. From OpenAI's ChatGPT AI chatbot to GitHub's Copilot AI code generation software and Google's Gemini AI model, the world has witnessed remarkable advances in AI technology, reshaping industries and challenging traditional paradigms.

Indeed, artificial intelligence, automation, and robotics are disrupting virtually every sector, compelling companies to embrace AI-driven solutions or risk obsolescence. Machine learning, large language models, smart applications, digital assistants, synthetic media software, and autonomous vehicles represent just a glimpse of the transformative power of AI.

As we navigate the evolving landscape of AI, it's clear that companies with AI and automation at the core of their business strategies are poised to thrive in the age of digital disruption.

Let’s check out four stocks poised to gain from the rise of AI.

SKYX Platforms Corp. (NASDAQ: SKYX) is at the forefront of integrating advanced technology into everyday living spaces, aiming to make homes and buildings safer, smarter, and more efficient. With a robust portfolio of 77 U.S. and global patents and patent-pending applications, SKYX boasts a comprehensive suite of platform technologies designed to revolutionize the way we interact with our environments.

The cornerstone of SKYX's innovation lies in its commitment to high-quality and user-friendly designs, spanning various domains from lighting to home décor. In September 2023, SKYX achieved a significant milestone with the issuance of five new utility patents in the U.S. and international markets, solidifying its position as a trailblazer in advanced and smart technologies.

One of SKYX's most notable achievements is its initiative to standardize safety with the National Electrical Code (NEC), revolutionizing electrical installations and enhancing overall safety standards. Spearheaded by industry leaders Mark Earley and Eric Jacobson, SKYX's code team is dedicated to mitigating hazards and ensuring unparalleled safety across residential and commercial environments.

Financially robust, SKYX boasts $23.7 million in cash, cash equivalents, restricted cash, and investments, providing a solid foundation for growth and innovation as of June 30, 2023. The renewal of a five-year global licensing master service agreement with GE Technology Development, Inc. further amplifies SKYX's reach and influence in the industry, enabling effective monetization of its technologies while safeguarding intellectual property rights.

At CES 2024, SKYX unveiled its patented All-In-One Smart Platform, a groundbreaking solution designed to transform homes into smart living environments seamlessly. This comprehensive platform integrates scheduling, energy-saving modes, and emergency functionalities, offering unparalleled convenience and efficiency.

In addition to its technological advancements, SKYX's commitment to safety and innovation extends to its proprietary patented platform technologies for smart home and electrical installations. Notably, SKYX’s Sky Plug-Smart technology revolutionizes electrical installations with its "plug and play" installation of weight-bearing electronics, significantly simplifying and enhancing safety standards.

The inclusion of the Sky Ceiling Receptacle in the NEC Code Book marks a significant milestone, reinforcing SKYX's commitment to safety and innovation. The receptacle's unique design reduces potential exposure to wires and streamlines installation processes, setting a new standard for electrical installations.

With endorsements from professional bodies like ANSI/NEMA and the American Institute of Architects, SKYX's proprietary technology is poised to become the new standard for home and building electrical installations.

For investors seeking opportunities in AI and smart home technology, SKYX presents a compelling investment opportunity. Its disruptive technologies, strategic partnerships, and relentless pursuit of innovation position SKYX as a frontrunner in the smart living revolution, promising unparalleled safety, convenience, and efficiency for generations to come.

Mobileye Global Inc. (NASDAQ: MBLY) is at the forefront of advanced driver assistance systems (ADAS) and autonomous driving solutions, positioning itself as a leader in the rapidly evolving automotive technology landscape.

With its innovative Driver Assist and Cloud-Enhanced Driver Assist solutions, Mobileye sets the standard for safety and efficiency on the road. The company's SuperVision technology represents the pinnacle of ADAS, offering hands-off capabilities for lane changes, acceleration, deceleration, and point-to-point navigation in autonomous vehicles.

Analyst Itay Michaeli of Citigroup projects a bullish outlook for Mobileye Global stock, with a potential triple to $72 per share. The company's profitability during the fourth quarter underscores its financial strength and ability to sustain growth amidst economic uncertainties.

Mobileye's dominance in the ADAS market, controlling nearly 70% of global market share, makes it a compelling investment opportunity for AI enthusiasts. Its cutting-edge systems leverage cameras, sensors, and proprietary EyeQ computer vision chips to deliver assisted parking, single-lane cruising, and other semi-autonomous features to vehicles.

The latest SuperVision release boasts impressive figures, with 4Q23 revenues reaching $637 million, representing a 13% year-over-year growth. Notably, Mobileye successfully diversified its revenue streams across a wide range of OEMs and geographic regions, signaling robust market penetration and demand for its technologies.

While Mobileye's innovative solutions and strong financial performance position it for long-term success, potential economic headwinds pose challenges to achieving the $72 price target in 2024. Nevertheless, with its track record of technological innovation and market leadership, Mobileye Global Inc. remains a formidable player in shaping the future of autonomous driving and smart mobility.

Investors keen on tapping into the burgeoning automotive technology sector may find Mobileye Global Inc. to be a compelling investment opportunity, offering exposure to the transformative potential of ADAS and autonomous driving technologies in the years ahead.

SoundHound AI Inc (NASDAQ: SOUN) is a global leader in conversational intelligence, empowering businesses with innovative voice AI solutions that revolutionize customer interactions across various industries.

With its proprietary technology, SoundHound delivers unparalleled speed and accuracy in multiple languages, catering to automotive, TV, IoT, and customer service sectors. Groundbreaking AI-driven products like Smart Answering, Smart Ordering, and Dynamic Interaction redefine customer service standards, while SoundHound Chat AI integrates Generative AI to power millions of products and services worldwide.

In its recent 8-K filing on February 29, 2024, SoundHound announced record-breaking Q4 revenue of $17.1 million, marking an impressive 80% increase year-over-year. Moreover, the company demonstrated a remarkable 80% improvement in adjusted EBITDA, showcasing its financial strength and operational prowess in the voice AI industry.

Despite facing challenges reflected in net loss figures, SoundHound's strategic initiatives, including the integration of new generative AI capabilities and the acquisition of SYNQ3, position it as a dominant force in the market. The company's relentless investments in research and development, alongside robust sales and marketing efforts, underscore its commitment to innovation and market expansion.

Looking ahead, SoundHound anticipates continued growth, projecting full-year 2024 revenue to range between $63 to $77 million, with a midpoint target of $70 million. With an ambitious 2025 outlook, SoundHound aims to exceed $100 million in revenue while achieving positive adjusted EBITDA, reflecting CEO Keyvan Mohajer's confidence in the company's trajectory.

CFO Nitesh Sharan emphasizes SoundHound's strong finish to the year and readiness to meet surging customer demand for AI solutions. SoundHound AI Inc's commitment to innovation and delivering real commercial value positions it as a frontrunner in shaping the future of conversational intelligence.

NVIDIA (NASDAQ: NVDA) stands as a trailblazer in accelerated computing, reshaping industries since its inception in 1993. The company's groundbreaking invention of the GPU in 1999 revolutionized PC gaming, redefined computer graphics, and ushered in the era of modern AI, fueling industrial digitalization across markets.

In recent years, NVIDIA has emerged as the poster child for AI, experiencing a remarkable surge in its stock price, which has soared by 260% since last March. With an estimated 90% market share in AI chips, NVIDIA has cemented its position as a leader in the field.

The increased demand for AI services has propelled the sales of NVIDIA's GPUs, essential for training AI models. As a result, the company has experienced substantial growth, with revenue soaring by 265% year over year to $22 billion in the fourth quarter of 2024. Operating income witnessed a staggering 983% jump, reaching nearly $14 billion, fueled by a remarkable 409% increase in data center revenue, reflecting a surge in AI GPU sales.

NVIDIA's impressive performance speaks volumes about its dominance in the AI landscape and its ability to capitalize on the growing demand for GPU-accelerated computing. As the demand for AI services continues to rise across various industries, NVIDIA remains well-positioned to drive innovation and shape the future of accelerated computing.

CapitalGainsReport (CGR) is not operated by a licensed broker, a dealer, or a registered investment adviser. This content is for informational purposes only and is not intended to be investment advice. The Private Securities Litigation Reform Act of 1995 provides investors a safe harbor in regard to forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions, or future events or performance are not statements of historical fact may be forward looking statements. Forward looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements in this action may be identified through use of words such as projects, foresee, expects, will, anticipates, estimates, believes, understands, or that by statements indicating certain actions & quote; may, could, or might occur. Understand there is no guarantee past performance will be indicative of future results. Investing in micro-cap and growth securities is highly speculative and carries an extremely high degree of risk. It is possible that an investors investment may be lost or impaired due to the speculative nature of the companies profiled. CapitalGainsReport (CGR) is owned by RazorPitch Inc. and has been retained by SKYX Platforms Corp. to assist in the production and distribution of content related to SKYX. 'CGR' is responsible for the production and distribution of this content. It should be expressly understood that under no circumstances does any information published herein represent a recommendation to buy or sell a security. This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained in this article constitutes a solicitation, recommendation, endorsement, or offer by CapitalGainsReport/RazorPitch or any third party service provider to buy or sell any securities or other financial instruments. All content in this article is information of a general nature and does not address the circumstances of any particular individual or entity. Nothing in this article constitutes professional and/or financial advice, nor does any information in the article constitute a comprehensive or complete statement of the matters discussed or the law relating thereto. CGR/RazorPitch is not a fiduciary by virtue of any persons use of or access to this content.

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