Author: John Ballard, The Motley Fool

These hot brands are growing their revenue at a high rate, and their stocks trade at fair valuations that should allow an investor buying today to easily outpace the broader market.

These two names are well-positioned in their respective industries, boasting innovative products, solid financials, and strategic growth plans that could drive significant long-term value.

These two fast growing names entered the year with wind in their sails that could see their stock prices rise further in 2024 and beyond.

Here are two highly profitable businesses that are already capitalizing on the explosive growth opportunity in AI.

Offering a perfect balance of growth and value, they’re both trading at discounted valuations.