Considering how well artificial intelligence (AI) stocks have done over the past two years, it's hard to imagine some of them going even higher. However, this industry still has significant tailwinds as we have barely scratched the surface of what is possible with AI.

That sets the table for continued growth over the coming years. Analysts estimate that Nvidia will grow earnings by an average of 38% annually for the next three to five years. Today, Nvidia trades at a forward P/E ratio of 51, a rock-solid value for its anticipated growth.

With some of the biggest AI players going all-in on this technology, it might make existing AI powerhouses, like Palantir (NASDAQ: PLTR), a bit nervous. Palantir emerged as one of the best pure-play AI investments in 2024.

This top-performing ETF's largest three stock holdings are Nvidia, Taiwan Semiconductor Manufacturing, and Broadcom.