The artificial intelligence (AI) megatrend has driven valuations of big tech stocks such as Nvidia, Meta Platforms, and Microsoft higher since the start of 2023. According to multiple research reports, the AI market will rapidly expand and surpass US$1 trillion within the next five years.
However, several AI stocks are trading below their all-time highs, making them top investments if they can benefit from an expanding addressable market. Here are two beaten-down AI stocks every Canadian investor should closely watch in October 2024.
UiPath stock
Valued at US$6.84 billion by market cap, UiPath (NYSE:PATH) provides an end-to-end automation platform that offers a range of robotic process automation (RPA) solutions in the U.S. and other international markets. The company provides software solutions to build, manage, run, engage, and measure automation within the organization.
In the fiscal second…
