The report breaks the investment opportunity into three layers: (1) the enabling layer, (2) the intelligence layer, and (3) the application layer. Listed below are three brilliant AI stocks (one for each layer) that billionaires were buying in the second quarter.

California governor Gavin Newsom has vetoed a controversial attempt to regulate artificial intelligence, citing concerns that the bill could stifle innovation after intense pressure from tech companies.

Undoubtedly, one of the reasons why is the artificial intelligence (AI) boom. Let's examine two AI stocks that have already made a few fortunes and have the potential to make many more in the years to come.

At 40.2 times forward earnings, Amazon is by no means a cheap stock. This is likely the result of investors being excited about cloud computing and the effect AI will have on it. It also is a recognition that Amazon's commerce businesses could become far more profitable as it focuses on becoming more efficient.