AI Spending Projected to Surge 600%: Meta and Pure Storage Emerge as Top Picks

Artificial intelligence infrastructure and software expenditures are forecast to skyrocket over 600% by 2028, creating lucrative opportunities for investors. While Nvidia and Palantir have dominated conversations, Meta Platforms (META) and Pure Storage (PSTG) present compelling alternatives.

Meta's dominance in social media—owning three of the top four platforms—provides unparalleled consumer insights, fueling its advertising engine. The company's aggressive AI investments, from custom chips to large language models, are already driving increased user engagement and ad performance.

Pure Storage, though less flashy, offers critical infrastructure solutions for AI workloads. Both stocks enjoy bullish Wall Street sentiment, with Meta's median price target suggesting 19% upside and Pure Storage indicating 4% potential growth.