Advances in artificial intelligence (AI) and the excitement around their potential drove the stock prices of some of the biggest companies in the world higher in 2024. But not every AI innovator was a big winner.

Rather than focusing on quarterly earnings beats or temporary market sentiment, my investment strategy centers on identifying companies that can compound value over many years or even decades. While many view the current AI boom skeptically,

Artificial intelligence continued to be a driving force behind stock market returns in 2024. Here are some of the stocks that have benefited the most.

Dan Ives believes Apple and Microsoft will be $4 trillion companies by the end of 2025. Apple CEO Tim Cook believes Apple Intelligence will usher in a new era for the iPhone. Microsoft's AI business is on track to generate $10 billion in revenue next quarter.

Nvidia (NASDAQ: NVDA) and Taiwan Semiconductor Manufacturing (NYSE: TSM) are among the stocks that I think can outperform the market over the next five years. Nvidia is a stock that has made plenty of people rich.