Meta Platforms (META): One of the Most Promising AI Stocks to Buy and Hold for the Next 2 Years

Meta Platforms, Inc. (NASDAQ:META) is one of the Most Promising AI Stocks to Buy and Hold for the Next 2 Years. On June 19, Reuters, while citing Bloomberg News, highlighted that Meta Platforms, Inc. (NASDAQ:META) secured new agreements to get AI computing power from ​Crusoe (data center developer). This comes as the company focuses on strengthening the infrastructure needed to support the AI expansion. Notably, the tech giant will buy computing capacity at 2 data centers that are situated in Childress, Texas and Warrenton, Missouri.

Meta Platforms (META): One of the Most Promising AI Stocks to Buy and Hold for the Next 2 Years

Reuters, while citing the report, highlighted that Meta Platforms, Inc. (NASDAQ:META) is expected to get ~1.6 gigawatts of capacity ​combined throughout the 2 sites, with a single gigawatt sufficient enough to power ~750,000 US homes. Meta Platforms, Inc. (NASDAQ:META) continues to invest billions in AI data centers and computing power. This comes ​as ⁠demand has been surpassing the supply.

Reuters also noted that Meta Platforms, Inc. (NASDAQ:META) plans to invest $600 billion in U.S. infrastructure and jobs over the upcoming 3 ​years.

Meta Platforms, Inc. (NASDAQ:META) develops products that allow people to share and connect with their family and friends using PCs, mobile devices, virtual reality (VR) headsets, and AI glasses.

While we acknowledge the risk and potential of META as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than META and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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