Got $5,000? 2 Top Growth Stocks to Buy That Could Double Your Money

Doubling your money in the stock market might not seem so easy these days.

After all, the S&P 500 has nearly doubled since its bottom in the 2022 bear market, and the whispers about a bubble forming in the market are getting louder. Artificial intelligence (AI) stocks continue to surge. OpenAI has signed multiple deals to spend tens of billions of dollars building out AI infrastructure, and investors are eagerly eyeing lower interest rates. As a result, the S&P 500 is now trading at a price-to-earnings (P/E) ratio of 29, which is close to double its historical average. The valuations have gotten higher in recent decades as more investors have entered the market and it's become more liquid.

However, some stocks still have the potential to become big winners. If you have $5,000 to invest and you're looking to double it in the next few years, here are two stocks to consider.

1. Figma

Figma (NYSE: FIG), the cloud software company known for user-interface/user-experience (UI/UX) design, had one of the most explosive IPOs in recent years a few months ago.

From an IPO price of $33, the stock jumped more than 300% to an intraday peak of $142.92 on a frenzy for a piece of the fast-growing software stock.

Since then, Figma shares have come back down to earth, and the stock is now trading around $55 a share. It's not cheap by any means, trading at a price-to-sales (P/S) ratio of 28. But at a market cap of $26 billion and with a strong growth rate, the stock looks like a good bet to double over the next few years.

First, the sell-off in the stock seems to have come as Wall Street is taking a typically short-term view of the stock. Figma's second-quarter revenue of $249.6 million, up 41%, edged past estimates at $248.7 million. However, it fell short on the bottom line, and its full-year guidance indicated that margins would fall in the second half of the year.

There's a good reason for that, though. Figma released several new products in the quarter, loaded with AI features, and is continuing to invest in new products. Capitalizing on that opportunity is key for the company, as web design seems like a great case for AI tools, and it's likely to expand the market. If those new products resonate with customers, Figma could have several years of strong growth ahead, lifting the stock to a double or beyond over time.

2. Taiwan Semiconductor

Taiwan Semiconductor Manufacturing Corporation (NYSE: TSM) doesn't get as much attention as Nvidia or OpenAI, but it's arguably the cornerstone of the AI boom and the greater semiconductor industry.

TSMC, as the company is often known, dominates the market for contract chips, handling more than half of semiconductors for customers like Nvidia and roughly 90% of advanced chips. It's been a major beneficiary of AI, and the increasing usage of semiconductors in products from appliances to automobiles.

The company also enjoys a wide economic moat. Manufacturing advanced semiconductors at scale is a highly technical business that requires massive capital expenditures, and its exclusive focus on manufacturing and expertise has helped separate it from competitors like Samsung and Intel.

You can see that competitive strength in its operating margin, which reached 50.6% in the third quarter. Revenue rose 40.8% in U.S. dollars in the period to $33.1 billion, while earnings per share jumped 39% to $2.92.

What also makes TSMC an attractive stock, in addition to those numbers, is that its valuation is still reasonable, especially compared to many of its AI peers, at a P/E ratio of 33.

TSMC is also diversified beyond AI into products for devices like smartphones and industrial applications, so it can weather any potential slowdown in AI. If it keeps its current growth rate, it could easily double in the next few years.

Jeremy Bowman has positions in Figma, Nvidia, and Taiwan Semiconductor Manufacturing. The Motley Fool has positions in and recommends Intel, Nvidia, and Taiwan Semiconductor Manufacturing. The Motley Fool recommends the following options: short November 2025 $21 puts on Intel. The Motley Fool has a disclosure policy.