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As of the end of the second quarter, Meta had nearly 3.3 billion daily active users (DAUs). That's a huge advantage for the company in many ways, but consider this: Meta is in a position to introduce its AI-powered features to roughly 40% of the world's population.

Chipsets known as graphics processing units (GPUs) are an integral component in the development of artificial intelligence (AI) applications. At the moment, Nvidia (NASDAQ: NVDA) holds an estimated 88% of the AI GPU market thanks to its industry-leading A100 and H100 GPUs.

These stocks are trading at attractive valuations relative to their history, especially in light of their opportunities in the artificial intelligence space.

But on rare occasion, two hot trends vie for Wall Street's attention at the same time. In 2024, we've witnessed the artificial intelligence (AI) revolution and stock-split euphoria converge to lift the stock market's major indexes to record-closing highs.