California governor Gavin Newsom has vetoed a controversial attempt to regulate artificial intelligence, citing concerns that the bill could stifle innovation after intense pressure from tech companies.

The report breaks the investment opportunity into three layers: (1) the enabling layer, (2) the intelligence layer, and (3) the application layer. Listed below are three brilliant AI stocks (one for each layer) that billionaires were buying in the second quarter.

Undoubtedly, one of the reasons why is the artificial intelligence (AI) boom. Let's examine two AI stocks that have already made a few fortunes and have the potential to make many more in the years to come.