Goldman Sachs highlights the pivotal role of the tech sector, which has been the propelling force driving the U.S. stock market for over a decade, contributing a hefty 40% to equity market gains in the past 14 years.

A number of tech stocks have shown remarkable growth since 2010. Consider a $1,000 investment in Advanced Micro Devices, now valued at over $23,000. Notably, companies like Microsoft, Amazon, and Netflix have been multibaggers during this timeframe, while Nvidia has witnessed meteoric rise fostered by a myriad of catalysts, with the latest being the wave of artificial intelligence (AI).

AMD data by YCharts.

With the AI sector still in its nascent stage, Bloomberg anticipates a surge in technology-driven revenue, estimating that AI could generate a whopping $1.3 trillion in revenue by 2032, a substantial leap from the current estimate of $137 billion. For investors eyeing the trajectory towards a million-dollar portfolio, focusing on AI-centric companies could prove to be a winning strategy in the long haul.

Below, we delve into two potential millionaire-maker AI stocks that hold the promise of substantial gains, arming investors with lucrative opportunities.

Pioneering AI Growth with Palantir Technologies

While companies like Nvidia have basked in the glory of their potent chips designed for AI model training, the eventual real-world deployment of these models necessitates adept solutions. Palantir Technologies (NYSE: PLTR) emerges as a frontrunner, offering customers its Artificial Intelligence Platform (AIP).

AIP empowers users to craft generative AI applications, seamlessly integrate large language models (LLMs) into workflows, and roll out pre-built AI applications. Palantir’s innovative “boot camps” serve as a strategic approach, guiding customers on deploying generative AI to cater to their business needs, bagging substantial contracts in the process.

Customers opting for AIP are keen on expanding the platform’s influence across their operations, sparking a cascading effect that has significantly expanded Palantir’s commercial customer base and contract value, transcending the 55% year-over-year surge in its commercial segment over the second quarter, outpacing the 41% uplift in its clientele base inclusive of government patrons.

The company manifested $946 million in total contract value in the second quarter, marking a 47% upsurge from the corresponding period in the previous year. AI has played a pivotal role in elevating the net retention rate (NRR) to 114%, up by 300 basis points, reflecting the growing expenditure of existing customers annually. With Palantir raking in $2.5 billion in revenue over the trailing 12 months, the substantial remaining value in its deals portends promising revenue growth down the line.

Palantir’s adjusted operating margin saw a remarkable surge by 12 percentage points in the second quarter, reaching 37%, attributing the rise to the robust unit economics driving profitability. Projections suggest a robust 57% annual earnings growth in the next five years for Palantir, a testament to its enduring potential in the expanding global AI market.

Oracle: Unleashing the AI Ecosystem

The software platforms offered by Palantir run on cloud infrastructure supplied by industry behemoths like Oracle (NYSE: ORCL). Orchestrating a symbiotic partnership, Palantir leverages Oracle’s distributed cloud and AI infrastructure to bolster its AIP and other services, as Oracle attracts an array of clients to its cloud ambience.

Enterprises have been harnessing Oracle’s cloud infrastructure for AI model training, alongside offering cloud-hosted AI services on its platform. The palpable demand has outstripped availability, with Oracle’s infrastructure cloud services witnessing a 56% surge in consumption, hitting an annualized revenue run rate of $8.6 billion as acknowledged in the September earnings call.

The past year witnessed Oracle amassing just under $54 billion in revenue, with the AI-driven demand for its cloud infrastructure initiating substantial market shifts. The surge in remaining performance obligations (RPO) by 53% on a yearly basis to $99 billion in fiscal 2025’s first quarter portends a robust top-line growth trajectory.

Goldman Sachs prognosticates that infrastructure as a service could rake in $580 billion in revenue by 2030, underpinned by AI prowess, which bodes well for Oracle’s expansive prospects. Anticipated consensus estimates hint at a growth acceleration post a 6% revenue uptick in the previous fiscal year to $53 billion.