Nine stocks identified by Goldman Sachs as part of this "Phase 3" group have seen price declines in 2024 but are expected to grow in 2025. These include companies like Dynatrace, Uber, and GitLab, which are innovating and integrating AI into their business models. The focus is on software and IT services industries, with applications in human resources, customer relationship management, and cybersecurity. Despite recent market challenges, these companies are poised for growth as AI becomes more integral to their operations.
Key takeaways:
- Goldman Sachs recommends investing in "Phase 3" AI companies that are integrating AI into their business models, as they are trading at a discount compared to AI infrastructure stocks.
- Despite the increased mention of AI in earnings calls, actual adoption remains low, with only 6% of US companies currently incorporating AI into their business models.
- AI beneficiaries have started to outperform AI infrastructure companies, and inference costs are expected to decrease, opening opportunities for smaller companies.
- Software and IT services companies are leading the adoption of AI, with significant growth expected in areas like human resources, customer relationship management, and cybersecurity.