Last year, investors enthusiastically purchased shares of Nvidia (NASDAQ: NVDA) as the excitement surrounding artificial intelligence (AI) drove the stock market. In fact, the AI chipmaker's stock price soared by 239% in 2023, making it the top-performing stock in the S&P 500. While Nvidia has already gained another 20% in 2024, Wall Street believes there is more potential in other AI stocks. For instance, The Trade Desk (NASDAQ: TTD), with a median price target of $83 per share, suggests a 20% upside. Meanwhile, Docebo (NASDAQ: DCBO) has a median price target of $56 per share, implying a 24% upside. Here is some important information about these two AI stocks: The Trade Desk operates as the leading independent ad tech platform for media buyers. Its software utilizes AI to assist advertisers in creating, measuring, and optimizing campaigns across digital channels. Notably, The Trade Desk excels in connected TV (CTV) advertising and offsite retail media, which are the fastest-growing segments of the digital advertising market. The company's success can be attributed to its independent business model that avoids bias in ad spending and competition with publishers in ad inventory sales. Due to its independence and scale, The Trade Desk has secured valuable partnerships, sourcing data and inventory from major CTV publishers like Walt Disney and leading retailers such as Walmart. With its unique capabilities, The Trade Desk offers measurement capabilities that are unmatched by other ad tech platforms. Given the projected 14% annual growth in ad tech spending through 2030, The Trade Desk is poised to outperform the industry, with analysts expecting a 21% annual sales growth over the next five years.

Considering its current valuation of 19. 4 times sales, patient investors with a five-year horizon may wish to consider a small investment in this growth stock. Docebo operates a learning management system that comprises various applications to help businesses create, deliver, and measure the effectiveness of training content for internal employees and external audiences. Noteworthy among these applications are Docebo Shape, which utilizes generative AI to automate content creation for corporate training, and Docebo Flow, which integrates learning content into other software products, enabling external use cases such as customer training. Docebo has gained recognition for its consistent innovation in the field of learning management systems, with Fosway Group, a European industry analyst, acknowledging its leadership for six consecutive years. Moreover, Morgan Stanley analyst Josh Baer has identified Docebo as a top generative AI pick in 2024, citing the company's disruption in both internal and external learning markets. Although Docebo may be unfamiliar to many investors, it has secured significant customers, including two of the world's largest technology companies, Amazon and Google (though unnamed). Additionally, Docebo has formed a partnership with Google Cloud to further develop its generative AI product roadmap. Looking ahead, Docebo plans to introduce new features to Shape in 2024, such as virtual role play with real-time feedback and an integrated copilot that simplifies content creation. Management believes that Shape will revolutionize how training material is created and consumed. With the learning management systems market expected to grow at a rate of 20% annually through 2030, Wall Street predicts a sales growth rate of 25% per year for Docebo over the next five years. Given its current valuation of 9 times sales, this lesser-known software stock offers an attractive buying opportunity for patient investors. Overall, while Nvidia continues to perform well, The Trade Desk and Docebo offer promising investment opportunities in the AI sector. Both companies benefit from strong market positions, technological innovation, and projected revenue growth. Wise investors with a long-term perspective should carefully consider their options and seize the potential presented by these AI stocks.