If You Like Nvidia for Its AI Exposure, Then You'll Love These Two Stocks

Group 1: Nvidia - Nvidia was the best-performing stock in the S&P 500 in 2023, with a price increase of over 290% year-over-year, driven by strong demand for AI technologies [1][2] - The stock is currently trading at 36 times forward earnings, reflecting high expectations for growth in the AI market, which is projected to grow at a compound annual growth rate of over 37% from 2023 to 2030 [2][3] - Nvidia's data center business is the primary revenue driver, accounting for 78% of total revenue in fiscal 2024, with significant demand for its chips from AI applications [3][4] - The company is focusing on developing "AI factories," which are specialized data centers designed to process and refine large amounts of data for AI applications [3] Group 2: GE HealthCare - GE HealthCare is positioned to benefit from the explosive growth in AI investment, particularly in the healthcare sector, where productivity improvements are critical [5][6] - The company has 58 AI-enabled device authorizations, the highest among medical technology firms, enhancing diagnostic capabilities in critical care environments [6] - GE HealthCare's strategy includes acquiring AI solution providers, such as Caption Health and MIM Software, to expand its AI-enabled product offerings [6][7] Group 3: Deere - Deere is leveraging its Smart Industrial strategy to drive performance and innovation, focusing on technology to unlock value for customers [8][10] - The company has experienced significant earnings growth, with fiscal 2023 marking a notable expansion cycle attributed to its integration of software and hardware [9][10] - Deere is investing heavily in R&D, with expenses reaching $2.2 billion in fiscal 2023, and is preparing for a fully autonomous farming future by 2030 [10][11] - The company's capital priorities include maintaining a strong balance sheet, investing in growth, and returning value to shareholders through dividends and buybacks [11]