Although ChatGPT creator OpenAI may capture a lot of headlines, especially amid speculation that it’s preparing to go public, the company continues to bleed money. Some estimates suggest it will need to spend more than $200 billion to achieve its ambitious growth plans.
Rather than wait for OpenAI to become investable, a better strategy may be to buy shares of businesses that serve as the pick-and-shovel plays of the artificial intelligence (AI) gold rush. These companies operate in the background, providing essential services to the sector as the technology evolves toward more sophisticated capabilities, such as agentic AI.
These three are pick-and-shovel businesses poised to reap years of financial success from the AI megatrend, and their stocks are well worth considering now.
This post originally appeared at The Motley Fool.