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Why Snap Inc. (SNAP) is one of the best AI stocks to buy according to Reddit?

    We recently published a list of 10 Best AI Stocks to Buy According to Reddit. In this article, we will look at where Snap Inc. (NYSE:SNAP) ranks against other best AI stocks to buy according to Reddit.

    On December 4, Jay Jacobs, US Head of Thematics and Active Equity ETFs at BlackRock, appeared on CNBC and discussed the significant growth potential for ETFs as we approach 2025, especially in the context of the accelerating AI infrastructure phase. He noted that while AI adoption is still in its early stages, significant investments from major technology companies worth about $250 billion per year are being made to improve data centers and develop advanced chips. This investment is crucial to better integrate AI into daily life and business applications.

    Jacobs emphasized that the opportunities in AI extend beyond just mega-cap tech stocks; it encompasses a broader value chain that includes semiconductor and software companies. He mentioned specific ETFs like ARTY (an index-based artificial intelligence fund) and BAI (an actively managed fund) that aim to capture this growth. Additionally, he highlighted the increasing importance of cybersecurity as data becomes more valuable, suggesting that companies will invest more in protecting their data assets. This trend is reflected in ETFs like IHAK, which focus on cybersecurity companies benefiting from this increased demand.

    Dave Nadig, an ETF expert and financial futurist, added insights on how AI will shape ETF investing by pointing out the infrastructure needs arising from increased energy consumption driven by AI technologies and electric vehicles. He noted that power generation and utility companies are becoming increasingly relevant as they adapt to rising electricity demand. Both experts agreed on the critical role of physical infrastructure in supporting technological progress, emphasizing that real-world resources such as energy and materials are essential for the continued development of AI technologies.

    Dan Ives, Global Head of Technology Research at Wedbush Securities, also believes the technology market is poised for significant growth, driven by advances in AI. He expects AI software companies to play a key role in this expansion, as he said in a Nov. 25 CNBC interview. We discussed this in our article about the 12 Best Artificial Intelligence Stocks to Invest in Under $10here's an excerpt from it:

    “…Ives believes that the consumption model in enterprise AI, driven by the advances of major chip makers, will lead to underestimated growth rates of 15% to 20% for these software companies.