In a year of record-breaking highs for the S&P 500 and Nasdaq Composite, the demand for artificial intelligence (AI) services has been a major driving force. As investors seek to capitalize on the potential of this burgeoning industry, two promising stocks have emerged as potential wealth-builders for shareholders.

C3.ai (NYSE: AI) is a leading AI enterprise software developer that counts some of the world's largest companies, including the U.S. federal government, among its clients. C3.ai's software is utilized by the U.S. Air Force to predict operational failures and identify necessary spare parts, while Shell uses its advanced system to monitor and maintain energy assets. Despite the stock's slower performance compared to the broader market this year, its partnerships with cloud providers such as Amazon Web Services and Google Cloud, along with its recent switch to a consumption-based pricing model, signal a massive opportunity on the horizon. This transition has not only lowered costs for customers but is also attracting new ones, reflected in management's guidance for full-year revenue growth between 19% and 27%.

Interestingly, C3.ai has reported a surge in interest from various businesses for its generative AI applications, receiving nearly 50,000 inquiries in the most recent earnings report. Additionally, the recent acceleration in growth has caused the company's price-to-sales ratio to decline from 16 to a more reasonable 12, potentially attracting more investors and leading to new highs later this year.

Another company capitalizing on the AI wave is Meta Platforms (NASDAQ: META), which has seen accelerated revenue growth thanks to a stronger digital advertising market. Meta has successfully integrated AI services across its social media platforms like Instagram, Facebook, WhatsApp, and Messenger, resulting in higher user engagement and increased advertising revenue. The company's revenue grew by an impressive 27% year over year in the first quarter, driven by AI-driven recommendation systems and advertising tools.

While concerns over increasing competition from apps like TikTok persist, Meta's AI infrastructure has become a competitive advantage. AI drives over half of the content recommended on Instagram, with Instagram's Reels feature playing a vital role in increasing engagement.

With a substantial amount of cash on hand, Meta can continue to invest heavily in AI. The company generated an impressive $49 billion in trailing-12-month free cash flow, and analysts predict an 18% annualized growth in earnings per share for the next several years.

In conclusion, the AI industry has become a hotbed for investors seeking long-term growth prospects. Both C3.ai and Meta Platforms have positioned themselves as frontrunners in this space, with their innovative AI solutions and successful integration across various industries. While C3.ai is poised for growth with strong partnerships, a consumption-based pricing model, and increasing customer interest, Meta Platforms' AI-driven social media platforms and rising advertising revenue make it an attractive investment option.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always do your own research before making investment decisions.