These are the companies that benefited the most from AI in 2024

Nvidia remains the company that has seen the most growth, but there are a couple of other cases that are representative of the boom in Artificial Intelligence.

2024 was the year of Artificial Intelligence at the business level. According to the survey Challenges and trends for companies in Latin America 2024, by EY, 72% of companies in Latin America consider AI to be one of the most important disruptive technologies for their industry in the next three years and there are clear examples worldwide of three companies that took advantage of this boom.

Nvidia, the main beneficiary of AI

Nvidia is the clearest example of the impact that Artificial Intelligence had on the world of technology. Before its growth, the company led by Jensen Huang was primarily known as a manufacturer of graphics cards to boost the graphic quality of video games.

However, as soon as the era of generative AI began, this Californian company became one of the most sought-after for its data centers capable of running all the applications of the major language models from companies such as OpenAI, Meta or Amazon, among others.

In 2023, Nvidia saw a 239% increase in its market capitalization, but 2024 was another successful year with a 183% increase, allowing it to achieve the title of the most valuable company in the world on a couple of occasions, surpassing Apple.

Over the past six quarters, Nvidia’s revenue has grown by at least 94% each, and its next-generation AI chip, Blackwell, is already “in full production,” Huang said, painting a strong picture for the company.

“All customers are racing to be first to market,” Chief Financial Officer Colette Kress said in its latest quarterly call. “Blackwell is now in the hands of all of our major partners, and they are working to upgrade their data centers.”

AppLovin, a growing competitor

AppLovin is perhaps a company that those less familiar with technology do not know, however, it is a marketing software that offers developers a set of solutions to market, monetize, analyze and publish their applications, which has also benefited from the rise of AI.

It started 2024 with a market capitalization of $13 billion, but its valuation skyrocketed throughout the year and in the past month has already surpassed $110 billion, making it worth more than Intel or Airbnb.

While it took advantage of the Covid era and the digitalization of many sectors, with the AI ​​boom it found a new field of growth thanks to its ad search engine, which allows its clients to place more targeted advertising.

AppLovin's revenue for the third quarter of the year increased by 66% compared to the same period last year, reaching $835 million, while the net worth of its CEO, Adam Foroughi, has surpassed $10 billion.

Palantir, AI-powered software infrastructure

Data analytics and software infrastructure is the most important part of Palantir, a company that also benefited greatly from AI in 2024, when its stock earnings grew by 380%.

“Our business growth is accelerating and our financial performance is exceeding expectations as we meet unwavering demand for the most advanced AI technologies from our government and commercial customers,” said Palantir CEO Alex Karp.

Analysts expect 2025 to continue to be a good year for the software company, with revenue expected to grow by around 24% to $3.5 billion, according to LSEG data.

The company also has a promising future next year, as one of its co-founders and board member is Peter Thiel, a close associate of the next US president, Donald Trump, who organized a meeting with technology executives including Alex Karp.