The primary half of 2024 has been a robust one for the inventory market, and the clear chief driving that development has been Nvidia (NASDAQ: NVDA). The inventory of the chipmaker has been on a meteoric rise over the previous 5 years and that momentum continued into the primary half of 2024 with the refill over 150%.With the primary half of the yr now behind us, although, it’s time to search for a inventory that may doubtlessly assist energy the market larger within the second half. One candidate is Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG).All about AIThe largest pattern available in the market within the first half of 2024 was clearly synthetic intelligence (AI). Not way back thought-about a nascent know-how, AI actually hit the mainstream early this yr with quite a few tech corporations starting to supply AI-powered options of their merchandise.The most important early beneficiary of this technological shift has been Nvidia, whose graphic processing models (GPUs) are used to construct out the infrastructure wanted to run AI coaching and inference. With AI taking off and corporations speeding to introduce AI options, demand for Nvidia chips has outstripped provide as the corporate has labored with its manufacturing companions to increase manufacturing capability shortly.This has led to explosive development from the corporate to start out the yr, with its first-quarter income hovering 262% to $26 billion.Why Alphabet may lead the market higherAI infrastructure was the dominant theme within the first half of the yr. However it could be Nvidia’s cloud computing clients that assist lead the market larger within the second half. The three massive cloud laptop corporations of Amazon, Microsoft, and Alphabet have all benefited from the rise of AI to date, however they nonetheless have much more potential development coming down the street.Of the three corporations, the one I like essentially the most is Alphabet for a couple of causes.The primary purpose is that with the smallest cloud phase of the three, it has a few of the finest earnings development potential. The cloud computing enterprise has a whole lot of excessive fastened prices related to it, so corporations want to achieve a sure degree of scale earlier than they turn out to be worthwhile. Nevertheless, as soon as they do, the working leverage of the enterprise mannequin begins to kick in and profitability development will outpace income development.Google Cloud only in the near past hit this scale and turned worthwhile final yr. As such, the phase ought to see robust profitability development in each the second half of this yr in addition to in future years.Picture supply: Getty Photographs.Second, whereas there have been some kinks with the corporate introducing new AI overlays with its search outcomes, there may be some stable potential for the corporate on this space. Alphabet historically solely served up link-based adverts on about 20% of its search outcomes and solely will get paid when these hyperlinks get clicks. Nevertheless, the corporate is already testing new advert codecs each with its AI overlays and nicely as new AI-powered codecs for retailers. With 80% of its search outcomes beforehand not monetized, this affords an enormous potential upside within the years forward.Story continuesMeanwhile, Alphabet can also be the most affordable of the “Magnificent Seven” shares, buying and selling at a ahead price-to-earnings (P/E) ratio of below 25. Given this, along with its development prospects, the inventory additionally has the potential to increase its multiples (which is just when its P/E ratio and different valuation metrics transfer larger). That units the refill for a robust potential efficiency within the again half of this yr.GOOGL PE Ratio (Ahead) ChartWhile I nonetheless would not rely out Nvidia as main the market as soon as once more within the second half of the yr simply given how a lot momentum it’s seeing in its enterprise, I believe Alphabet is a robust candidate to guide the market ahead the remainder of this yr.Fortunately for buyers, you do not have to decide on only one and might personal each Nvidia and Alphabet. Each proceed to have brilliant long-term futures.Do you have to make investments $1,000 in Alphabet proper now?Before you purchase inventory in Alphabet, think about this:The Motley Idiot Inventory Advisor analyst staff simply recognized what they consider are the 10 finest shares for buyers to purchase now… and Alphabet wasn’t one among them. The ten shares that made the reduce might produce monster returns within the coming years.Think about when Nvidia made this record on April 15, 2005… should you invested $1,000 on the time of our suggestion, you’d have $757,001!*Inventory Advisor gives buyers with an easy-to-follow blueprint for fulfillment, together with steering on constructing a portfolio, common updates from analysts, and two new inventory picks every month. The Inventory Advisor service has greater than quadrupled the return of S&P 500 since 2002*.See the ten shares »*Inventory Advisor returns as of June 24, 2024Randi Zuckerberg, a former director of market growth and spokeswoman for Fb and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Idiot’s board of administrators. Suzanne Frey, an government at Alphabet, is a member of The Motley Idiot’s board of administrators. John Mackey, former CEO of Complete Meals Market, an Amazon subsidiary, is a member of The Motley Idiot’s board of administrators. Geoffrey Seiler has positions in Alphabet. The Motley Idiot has positions in and recommends Alphabet, Amazon, Apple, Meta Platforms, Microsoft, Nvidia, and Tesla. The Motley Idiot recommends the next choices: lengthy January 2026 $395 calls on Microsoft and quick January 2026 $405 calls on Microsoft. The Motley Idiot has a disclosure coverage.Nvidia Led the Market Greater within the First Half of 2024, however One other “Magnificent Seven” Inventory Is Poised to Energy the Market within the Second Half was initially revealed by The Motley Idiot