2 Growth Stocks to Invest $500 in Right Now

Some investors are skeptical of growth stocks right now, since they tend to be more volatile than broader equities. Given that the market has been a bit shaky of late, they would rather opt for less volatile options. However, for those with a sufficiently long horizon (say, at least five years), it is still worth it to purchase shares of top growth-oriented companies and hold onto them. They may or may not perform well over the next six months, but some are likely to deliver outstanding returns for patient investors. With that said, let's consider two attractive growth stocks that are worth investing $500 in right now: Nvidia (NASDAQ: NVDA) and Veeva Systems (NYSE: VEEV).

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1. Nvidia

While some are still waiting for the artificial intelligence (AI) bubble to burst, Nvidia continues its march forward. The company's shares have climbed 83% over the past 12 months, driven by outstanding financial results and growing demand for its AI chips. During its fiscal year 2026, ending on Jan. 25, Nvidia's revenue increased by 65% year over year to $215.9 billion. The company's earnings per share (EPS) rose 67% to $4.90. Even after crushing equities in recent years, Nvidia could perform well through the end of the decade and beyond. Here are two reasons why.

First, the company is well-positioned to maintain its lead in the AI chip market. Nvidia is set to release Vera Rubin during the second half of the year, which will be a step up from its already high-performing Blackwell AI computing platform. Nvidia's CEO, Jensen Huang, has said that the company expects about $1 trillion in purchase orders for Vera Rubin and Blackwell combined through 2027.

Second, there are good reasons to think the demand for Nvidia's products will remain strong as companies increasingly rely on agentic AI systems that can autonomously plan and execute tasks without human supervision. AI agents of this kind can help significantly boost productivity and cut costs, making them highly valuable -- and therefore worth spending small fortunes on -- for large corporations. Nvidia is ready to cash in on this.

Meanwhile, the stock still trades at fairly reasonable levels, especially considering its prospects. Nvidia's forward price-to-earnings of 25.6 isn't significantly above the average of 23.5 for information technology stocks. The company is worth a hefty premium, so at current levels, Nvidia's shares look highly attractive for investors looking to stick with the company for the long haul. The stock is changing hands for about $200 (as of writing), so $500 is good for two shares.

2. Veeva Systems

Investors are worried about Veeva Systems' future. Not only is the cloud specialist facing stiff competition in its niche of the industry, but some also think AI will replace it. However, there are still good reasons to be bullish on Veeva Systems. One of them is its sheer dominance. Veeva has specialized in developing cloud solutions tailored to the specific needs, demands, and constraints of the life sciences industry. It isn't a generalist. It is a specialist. That's why its services are highly popular in some corners of the healthcare industry; 15 of the top 20 biopharma companies are among its clients.

Veeva Systems has developed high switching costs because its customers rely on its services for critical day-to-day activities, such as regulatory compliance, clinical trial data integrity, and more. Meanwhile, the company is adapting to the new AI world order and has already launched an agentic AI system designed to help life science companies boost productivity.

Further, Veeva Systems' financial results remain strong. During its fiscal year 2026, ending on Jan. 31, the company's revenue grew 16% year over year to $3.2 billion. Veeva Systems' EPS climbed 26% to $5.44. Lastly, Veeva Systems still sees a massive, $20 billion addressable market, giving it ample room to grow its revenue and earnings over the next five years and beyond. That's why Veeva Systems remains an attractive stock to buy. With shares trading at about $155, investors can get two for $500, with change to spare.

Prosper Junior Bakiny has positions in Nvidia. The Motley Fool has positions in and recommends Nvidia and Veeva Systems. The Motley Fool has a disclosure policy.