Cathie Wood didn't jump on the artificial intelligence (AI) bandwagon. Her Ark Innovation ETF has been invested in AI for more than a decade. The exchange-traded fund (ETF) lists AI at the top of the list of disruptive innovations that should deliver strong long-term growth.

Market researcher IDC forecasts that global AI-related spending could hit $337 billion next year and jump to a whopping $749 billion by 2028. As a result, technology companies selling AI-related hardware and software should ideally witness healthy growth in their businesses next year.

Warren Buffett hasn't seen a lot to like in the stock market lately. Through the first three quarters of 2024, Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) sold $133 billion worth of stock from the portfolio he manages for the conglomerate.

Tesla could be a powerful AI company in the future. However, the companies already leading in AI might be better buys instead.

Warren Buffett is arguably the best-known, most-respected investor of all time. Buffett is also known for his folksy charm and his memorable quotes about the art of investing. Read Next:

Here's a UK stock idea that looks like it's offering the kind of good value sought by US billionaire investor Warren Buffett. The post 5 crucial Warren Buffett investing habits and a stock to consider buying now appeared first on The Motley Fool UK.

Warren Buffett’s Berkshire Hathaway has seen tremendous success over the years. Buffett’s investment strategies have made him one of the wealthiest people in the world. Many investors look to Buffett’s portfolio for guidance on what stocks to buy.