If you want to maximize your growth potential when betting on AI, you'll have to look at smaller competitors. Fortunately, there's a much smaller company to consider, one that Nvidia actually invested nearly $4 million of its own funds into in the past year. This is your chance to follow Nvidia's lead.

It's worth noting that software sales cycles can take time, and analysts expect headwinds will stretch into 2025. Revenue estimates for next year have fallen about 5.5%. One noteworthy headline is that archrival SentinelOne recently won a deal with PC manufacturer Lenovo to include its security software in new devices.

Some of the more mainstream artificial intelligence (AI) applications reside in workplace productivity software, self-driving cars, and cloud computing. One use case that often goes overlooked is how AI is used in the defense sector.

Some of the most prominent billionaires have been buying Amazon stock. Ray Dalio of Bridgewater Associates increased his position by almost 1.6 million shares, or 153%, in the second quarter. Ken Griffin of Citadel Advisors bought more than a million shares for a total of nearly 7.7 million. That's a 17% increase.