Bill Gates says AI is the first technology ‘that has no limit.’ 3 American stocks to capitalize on it

Microsoft co-founder Bill Gates knows a thing or two about the transformative power of technology — he played a crucial role in making personal computing accessible to millions through his company’s software. And as Microsoft helped bring computers into homes and businesses, transforming industries across the board, it also made him one of the richest people on earth.

• Accredited investors can become the landlord of Walmart, Whole Foods or Kroger — and benefit from regular distributions without lifting a finger. Here’s how

• Car insurance premiums in America are through the roof — and only getting worse. But 5 minutes could have you paying as little as $29/month

• These 5 magic money moves will boost you up America's net worth ladder in 2024 — and you can complete each step within minutes. Here's how

Now, Gates has identified something he believes could have an even greater impact: artificial intelligence.

During a recent appearance on “The Late Show with Stephen Colbert,” Gates made a bold statement about AI, saying, “It's the first technology that has no limit.”

Gates explained how AI stands apart from previous inventions, stating, “When you invent a tractor or even a cellphone, you kind of figure out how that's going to change life. Here, where the AI is very intelligent, and when you put it in robotic form, it can do a lot of both blue-collar and white-collar jobs.” He added that AI has the potential to do “super good” things, such as providing personal tutoring for children and improving healthcare access.

As AI continues to transform industries, businesses are increasingly adopting AI-driven solutions to enhance efficiency and innovation. For investors, this presents an exciting opportunity. Here’s a look at three AI stocks positioned to benefit from this transformative shift — Wall Street already sees major upside for this trio.

For many, the recent surge in interest around AI was sparked by the release of ChatGPT in late 2022, and Gates shares a similar experience.

“Two years ago when I first saw this Chat GPT, and it was kind of mind blowing, because that came kind of all of a sudden,” Gates told Colbert.

He expressed amazement at ChatGPT’s ability to learn from vast amounts of information and provide 24/7 support, comparing it to having "your mental health advisor there 24 hours a day" or a personal tutor offering instant feedback.

While OpenAI, the company behind ChatGPT, remains private, Microsoft — the very company Gates co-founded — has invested nearly $14 billion into it. According to The Wall Street Journal, the two firms are "facing off in a high-stakes negotiation" over how much equity Microsoft should have when OpenAI becomes a for-profit corporation. "In addition to figuring out how big a piece of the restructured artificial intelligence company Microsoft will own, the two sides must figure out what governance rights it will have," says the report.