The artificial intelligence industry is still new to many people, but it's already making waves in the business world.

Earlier this week, the S&P 500 entered a bull market, meaning it was up 20 per cent from its low in October and the growth is largely on the back of 10 tech stocks that are riding the AI wave.

“I think investors are seeing the power of generative AI and all these new changes in technology that are happening and as a result are getting super, super excited about the players,” Hatem Dhiab, managing partner at Gerber Kawasaki Wealth and Investment Management, told BNN Bloomberg Thursday.

Jumping on the AI hype can be expensive, however, and Dhiab suggests sticking to the cheaper options at the start.

“NVIDIA is not a cheap stock, it’s a trillion-dollar company that’s doing US$40-50 billion in revenue,” he said. “I think investors should be very careful and maybe find a better entry point for companies than NVIDIA and even Tesla.”

As of Thursday afternoon, Nvidia is trading for $430.73, while Tesla is trading for $255.41.

On the other hand, Google is only trading for $125.30.

“If you think about companies like Google or other companies that are actually cheaper, I would definitely get in right away,” Dhiab added.