A group of stocks are at the helm of the artificial intelligence revolution – and they are worth buying and holding for the long run, according to Evercore ISI. Excitement around AI helped lift Nvidia to a fresh record high last week, carrying the stock to a $3 trillion valuation. The name stands out as a “generational opportunity,” according to Evercore senior managing director Julian Emanuel. The chip giant is far from the only beneficiary, too. Evercore highlighted its list of “AI revolutionaries” – companies that are “enablers” of the broader trend, as well as those that have welcomed the new technology to “further build their competitive moats.” To compile this list, Evercore scanned the Russell 1000 for companies whose executives mentioned AI on call transcripts in 2023 more frequently compared to their peers. The firm also looked for names that are demonstrating growth — that is, estimates for 2024 earnings per share have been revised upward this year. The stocks also must have a price-to-earnings growth ratio for the next 12 months that’s at a discount versus the Russell 1000. “These companies are set to outperform long term,” Emanuel noted. Indeed, the firm rated the names below as outperform. For Nvidia, AI mentions showed up on transcripts 446 times, Evercore found, which is higher than any other name on the firm’s list. Earnings estimates have been revised to the upside by more than 20% this year, Evercore found. Emanuel also noted that Nvidia’s recent 10-for-1 stock split can be a catalyst for more growth from the top AI play. “As with the history of tech stock splits before it, weakness is a buying opportunity,” Emanuel said. “Generationally so.” Shares of the chipmaker have surged more than 140% in 2024, bolstered most recently by Nvidia’s announcement of its latest suite of AI chips, dubbed ” Rubin .” NVDA YTD mountain Nvidia stock. Meta Platforms also made the cut. Shares of the social media company have climbed more than 40% in 2024, while earnings estimates have climbed 14% this year. AI mentions clocked in at 88 last year, Evercore found. Meta surpassed Wall Street’s first-quarter forecasts, but shares faced pressure after the company issued a lower-than-expected revenue forecast. Meta is doubling down on AI, however, with capital expenditures increasing to a range of $35 billion to $40 billion. META YTD mountain Meta Platforms stock. Despite the increase in spending, chief executive Mark Zuckerberg assured investors in April that Meta will likely successfully scale and monetize the projects. “On the upside, once our new AI services reach scale, we have a strong track record of monetizing them effectively,” he said. Also on Evercore’s list is Google-parent company Alphabet , which notched 169 AI mentions last year. Shares have climbed more than 25% in 2024. GOOGL YTD mountain Alphabet stock. In the first quarter, Alphabet posted beats on the top and bottom lines, and it authorized its first dividend payment. The company’s suite of AI products include its own large language model, Gemini, and Vertex AI, which targets enterprise companies. “We are well under way with our Gemini era and there’s great momentum across the company,” said Sundar Pichai, CEO of Alphabet, in a press release that announced the quarterly results. “Our leadership in AI research and infrastructure, and our global product footprint, position us well for the next wave of AI innovation.”