Stocks have been all over the map lately. Some investors are doubling down on their winners while others are taking gains earned over the past few years and trimming positions.

No matter your perspective on the market right now, there are still red-hot opportunities. Artificial intelligence is one of the biggest, and two companies are leading the pack: Broadcom (AVGO -5.39%) and Nvidia (NVDA -5.07%). Here's why it may be worth buying these AI growth stocks and holding onto them for years.

1. Broadcom

Broadcom has been on many tech investors' radars, as the semiconductor stock has skyrocketed 200% over the past three years. The company specializes in application-specific integrated circuit (ASICs) custom chips, which are in high demand from tech giants like Alphabet and Meta, and rising data center investments could spur more growth.

Broadcom CEO Hock Tan highlighted this opportunity on the company's earnings call for the first quarter (which ended Feb. 2), saying demand continues to grow, and Broadcom's serviceable addressable market is in the range of $60 billion to $90 billion by 2027.

Broadcom's AI opportunities have already yielded significant returns. The company's artificial intelligence revenue surged 77% to $4.1 billion in the first quarter, accounting for more than one-quarter of total sales. Even more impressive is that Broadcom is solidly profitable, with GAAP earnings per share of $1.14 in the quarter and $6 billion in free cash flow.

A recent pullback in Broadcom's share price -- it's down about 22% over the past month as of this writing (March 7) -- has made the stock a little cheaper than it was before and opened up a buying opportunity. The company's shares have a forward price-to-earnings multiple of 28, a bit more expensive than the forward P/E of 20 for the S&P 500.

2. Nvidia

Nvidia hardly needs an introduction, as the company has become one of the hottest AI stocks over the past few years. Nvidia's top and bottom lines have grown as demand for its AI processors has surged, causing its data center revenue to jump 93% in Q2 fiscal 2025 (which ended Jan. 26) to $35.6 billion.

Impressive earnings have followed closely behind. Nvidia's earnings per share were $0.89 in the quarter, an 82% increase from the year-ago quarter. And more growth could be on the way. Nvidia released its new Blackwell AI processor recently, and the company has already generated $11 billion in sales from it, making the "fastest product ramp" in the company's history.

With Nvidia holding an estimated 70% to 95% of the AI accelerator market, competition is sparse. Nvidia carved out an early lead in AI processors, and it's now reaping the benefits. With nearly all of the largest technology companies recently announcing hundreds of billions in data center investments, Nvidia should continue to benefit.

Tariff uncertainties, lackluster economic data, and concerns that some tech stocks are overpriced have pushed down Nvidia's share price by about 22% over the past three months as of this writing (March 7). But that's made Nvidia's shares more attractively priced, with the stock having a forward P/E multiple of 25, making them not too much more expensive than the broader S&P 500. With the AI wars just heating up and data center demand surging, now could be a good time to start an Nvidia position or add to an existing one.