It's a good time to invest in the fast-growing artificial intelligence (AI) industry. Among AI tech stocks, semiconductor firms Broadcom (NASDAQ: AVGO) and Advanced Micro Devices (NASDAQ: AMD) are two to consider investing in.

The rapidly growing adoption of artificial intelligence (AI) has given shares of many companies a big boost in the past couple of years, and that's not surprising as this technology is expected to impact the global economy in a big way.

Among the companies benefiting from artificial intelligence (AI) entering the mainstream are semiconductor giants Broadcom (NASDAQ: AVGO) and Nvidia (NASDAQ: NVDA). As a result, Broadcom stock skyrocketed to a 52-week high of $186.

Cloudflare estimates that its total addressable market could grow from $176 billion this year to $222 billion in 2027, driven by incremental growth opportunities in areas such as AI. This explains why the company has been investing in AI-specific hardware such as high-end graphics processing units (GPUs) to power its AI offerings.

The artificial intelligence (AI) boom has been a huge benefit to the business, and with the stock up more than 10x in just a few short years, it would be understandable for investors who didn't get in earlier to think they missed the boat.