Artificial intelligence (AI) stocks have been volatile this week. This is due to the fact that the emergence of Chinese AI app DeepSeek has shaken up the market. As a long-term investor, however, I remain very bullish on the artificial intelligence theme as the technology is likely to have a profound impact on the world over the next decade. With that in mind, here’s a look at two top AI stocks I’d love to buy for my portfolio in 2025.

Rolling out AI agents

One company that I think has huge potential on the AI front is ServiceNow (NYSE: NOW). It’s a software company that enables businesses to automate processes and deliver better experiences to employees and customers.

ServiceNow’s software is already embedded within the corporate world. Currently, the company serves 85% of the Fortune 500.

However, it’s now rolling out some really exciting AI products. An example here is its AI agents. Designed to boost efficiency, these can autonomously perform tasks (across a range of departments). So, they have the potential to significantly reduce costs for firms.

I wouldn’t be surprised if, in a decade’s time, these AI agents are doing a lot of work that is done by humans today (e.g. customer service). Taking a long-term view, I reckon this company has the potential to be a genuine winner in the AI space.

Now, the issue with this stock for me right now is the valuation. Currently, the forward-looking price-to-earnings (P/E) ratio is about 68. That’s a little too high for me. Because it doesn’t leave any room for error (like a short-term slowdown in revenue growth).

I am prepared to pay a high valuation here as the company is growing quickly. This year, analysts expect revenue to climb 20%.

But I’m not prepared to invest at the current valuation. So, I’m going to wait patiently for a pullback in the hope that I can snap up some shares at a lower earnings multiple.

Helping businesses get an edge

Another tech company that appears to have a ton of potential in the AI space is Palantir (NASDAQ: PLTR). It specialises in software that helps organisations use their data to get an edge.

In the past, Palantir has had a lot of success working with government organisations. From the FBI and the CIA to the UK’s NHS, it has won a lot of major contracts.

Now however, the company is moving into the corporate world and it’s having success here too. In Q3 2024, commercial revenues were up 54% year on year.

One product that is driving this success is Palantir’s AIP (Artificial Intelligence Platform) product. This is a powerful platform that enables businesses to rapidly deploy AI.

Now again, it’s the valuation that is the deal-breaker for me here. Currently, Palantir sports a P/E ratio of 159.

I just can’t bring myself to pull the trigger and invest at that price. If the company was to experience some kind of setback like a slowdown in contract wins or a cyberattack, the shares could fall significantly.

I am keen to get a few Palantir shares into my portfolio at some stage, however. I’m hoping an opportunity presents itself in 2025.