The artificial intelligence (AI) industry has captivated investors. Corporations have been rushing to incorporate the technology into their operations to increase efficiency and revenue. AI was the big buzzword of 2023, and that momentum has carried over into 2024.

Many of the top AI stocks have continued to rack up gains. The sector is attracting a lot of speculation, which can risk the loss of capital. However, some AI stocks are the real deal and look ready to deliver long-term returns for their shareholders.

It’s not too late to invest in the best AI stocks to buy. These are some of the stocks that you may want to monitor.

CrowdStrike (CRWD)

Person holding smartphone with logo of US software company CrowdStrike Holdings Inc. (CRWD) on screen in front of website. Focus on phone display. Unmodified photo.

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CrowdStrike (NASDAQ:CRWD) is a cybersecurity firm that continues to grow while most competitors are losing ground. The company has an excellent recurring revenue model that grew by 34% year-over-year (YoY) in the fourth quarter of fiscal 2024. Annual recurring revenue currently stands at $3.44 billion.

Cybersecurity is a lucrative industry since businesses need safeguards to protect their data and sensitive documents from hackers. Cybercriminals are getting smarter and some are turning to AI to initiate more cyber attacks. Cybersecurity firms are fortifying their defenses with AI tool offerings.

CrowdStrike recently launched Charlotte AI, which allows cybersecurity teams to streamline their work and detect threats more quickly. A customer survey revealed the average person saves two hours per day with the company’s generative AI solution. Charlotte AI was built by defenders for defenders, and it’s one of the driving forces for CrowdStrike’s gains. The stock is up by 397% over the past 5 years.

Amazon (AMZN)

Closeup of the Amazon logo at Amazon campus in Palo Alto, California. The Palo Alto location hosts A9 Search, Amazon Web Services, and Amazon Game Studios teams. AMZN stock

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Amazon (NASDAQ:AMZN) has been incorporating AI into many of its products and services. The company uses AI to offer relevant product recommendations for people who browse its online marketplace. Amazon Web Services also utilizes AI to offer customers more choices. AWS allows customers to build better AI applications that can generate more leads and save time.

AI requires more computing power. While advanced chips power the hardware, cloud computing is the software component. The cloud computing industry has been growing as more companies adopt AI. Cloud platforms have the flexibility to handle and store additional data. 

Amazon is still a juggernaut that reports strong financials. Profit margins recently expanded as the company reached a record $170.0 billion in sales in Q4 2023. Revenue increased by 14%, and most of Amazon’s important segments exhibited double-digit revenue growth rates. North American sales increased 13% YoY, while international sales jumped by 17% YoY. Amazon Web Services revenue was 13% higher than the same period last year.

Synopsys (SNPS)

Person holding mobile phone with logo of American technology company Synopsys Inc. (SNPS) on screen in front of web page. Focus on phone display. Unmodified photo.

Source: T. Schneider / Shutterstock.com

Synopsys (NASDAQ:SNPS) is a chipmaker riding the AI tailwinds. The stock isn’t reliant on AI and reported solid financials long before the technology became mainstream. Synopsys stock is up by 395% over the past 5 years and has posted a 13% year-to-date gain.

The stock has a 63 P/E ratio and impressive profit margin expansion that suggests more upside. The company achieved a 27% net profit margin as revenue and earnings both soared in the first quarter of fiscal 2024. Revenue increased by 21% YoY while net income jumped by 65% YoY. Synopsys also exceeded the high end of guidance for its quarterly GAAP EPS.

Synopsys is in the process of acquiring Ansys (NASDAQ:ANSS), which would lead to additional market share. The semiconductor firm is delivering healthy financial growth while having a meaningful runway. AI tailwinds can elevate the stock price and reward long-term investors.

On this date of publication, Marc Guberti held long positions in AMZN and SNPS. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Marc Guberti is a finance freelance writer at InvestorPlace.com who hosts the Breakthrough Success Podcast. He has contributed to several publications, including the U.S. News & World Report, Benzinga, and Joy Wallet.