Find Best AI Stocks to Buy
AI is perhaps the most exciting sector, with so much potential with opportunities in almost every area of business and the economy. So many applications for AI, and a growing number of companies are taking the spotlight.
Of course investing in AI stocks somes with risk. The stock market is reaching it’s peak once more and any economic setback could launch a mini-crash. An economic setback and a stock market crash seem very far-fetched possibilities. And at this time, even with the ultra-high valuations of some (e.g., Nvidia, AMD, PLTR, GOOG), investors want to plow their money into these stocks. It might be FOMO about missing out on AI’s golden moment where it’s applying the technology and starting to earn revenues. Still, investors want these companies to “show me the money.”
Some of these stocks seem ideally positioned for growth such as Palantir, Nvidia, Coreweave, OpenAI, and Google. As pointed out in the Palantir post, that company is growing, and it has first rate connection to US government contracts and to the corporate sector where large companies face the challenge of integrating AI into their business. See some of the best AI stocks to buy now.
AI Will Power Everything?
Experts believe AI will drive everything in the economy and it could be viewed as an optimization layer on top of companies, infrastructure, products and services. Theoretically, everything will be improved in one major leap in the next 10 years. AI will be a key part of the computing infrastructure and take hardware and network management to a new level. It’s already making its mark via Google, Facebook, Amazon, Palantir, Microsoft and IBM. Microsoft has been reborn with it, and it’s more than ChatGPT.
Consider how it’s being used in AI stock forecasting software. Companies such as Finbrain and others are intriguing investors who think AI might be able to invest better. Are we at that point yet? And real estate, travel, government, military, and entertainment will be powered up too. Your next International vacation will involve AI applications from air flight management to car and hotel bookings, to travel management software platforms.
Trillions to Be Pushed into AI
AI technology is still in its infancy, yet the commitment of major corporations to inject money into the development of AI solutions is attracting attention. Rumor is that as this economic recovery happens, investors will be ready to go all in on AI. We wonder how much of the $6 Trillion in money markets will move over to AI stocks? It might depend on timing.
And AI stocks may produce profits and ROI that make everything else pale in comparison. Certain companies are pivotal to AI business applications. Some say Nvidia will supply the microprocessors for this revolution and Microsoft and Amazon will host the realm of business.
Sure, there will be many startups seeking funding and competing in the space, however that is a risky venture best left for millionaires with money to gamble. I’m assuming you’re not a multi-millionaire. AI midcaps on the Russell 2000 might be able to survive the coming AI business battles.
A Major Economic and Technology Revolution
The opportunity and potential of AI is like none before it. The waves of wealth and data and technology available is like the perfect storm. This is the best, once-in-a-lifetime opportunity for you as an investor. You’re very fortunate if you choose the right AI stocks and see yourself get rich in the next 10 years.
AI is the next revolution, more important than the Internet, cell phones, and cloud computing. And we’re way past chatbots and into software that can give businesses a big competitive advantage. And the US is best positioned to capitalize on the AI revolution given its new trade strategy. And AI leaders will dominate the world, not just the USA.
And individual companies which don’t adopt soon AI risk becoming obsolete and bankrupt.
“AI is going to transform the global economy as surely as electricity and the steam engine did in their own times,” says Chris Hyzy, Chief Investment Officer for Merrill and Bank of America Private Bank.
AI Offers Too Many Applications and Advantages to List
AI is promising business insights, work efficiencies, predictive forecasting, new product development enhancement, performing work that humans can’t, processing data fast, improving decision making and generating incredible output. The speed at which AI is able to learn is improving fast too. As more data is collected in every industry, there is more for the AI systems to work with. The outcome is continuously better results.
Tesla is the company with the big data advantage and the program to capitalize on it. It’s not about EV’s but about services delivered by AI — any services Elon wants to serve.
You might think of AI as an optimization layer on top of all business types. Whatever a company is doing, it will do it better and more profitably in the next 10 years. Others consider something completely new, undoing the old, to change business culture, production, trade and marketing.
The growth of AI could take a massive leap in 2024 because of the improvement of GPU microchips supplied by Nvidia, and other companies such as AMD or Intel which produce microchips capable of serving AI processing.
Demand for AI Empowerment Will be Brisk
The demand for AI is driven by many sectors including consumer, business and government buyers. Consumers and investors were really perked up this year with the release of ChatGPT which created a groundswell of use and promotion.
So now, self-directed investors such as yourself are wondering whether to be an early investor with a 5 year timeline, and which companies will see the most growth in 2024 and beyond.
Some predictions suggest the value of AI companies could rise 20x by 2030 and AI will expand the global economy by 14%, or almost $16 trillion, by 2030. Global revenue associated with AI software, hardware, service and sales will likely grow at 19% per year, reaching $900 billion by 2026. So it’s all right in front of us.
Old reports before 2022 said China would be the greatest benefitor of AI with the US about half of that. Well, things have changed and it looks more like the US will grab the lion’s share with China struggling to find a market and capture the funding to develop AI and use it.
Beyond the Magnificent 7
Many of the top companies such as Google, Facebook/META, Amazon, and Nvidia are very profitable companies who are keen to maximize the development and use of artificial intelligence in their businesses.
At this time a few stocks are frequently mentioned and promoted. That would include Microsoft, AMD, Nvidia, and Tesla. One sector that seems to benefit from it and looks profitable is the healthcare sector.
Top AI Stocks on Barchart.com
See this list of the best-performing AI stocks ranked by performance over the last 5 days. Which ones are the laggards with the highest growth potential? See more at Barchart. With military and cyberterrorism a big theme, Bigbear.ai, Palantir, Guardforce.ai, Snowflake, and C3.ai. If you’re looking to gamble on some AI small caps on the Russell, check out Rezolve Ai (RZLV) which operates at the forefront of the AI-driven commerce transformation with its proprietary comprehensive Brain Suite platform. At $2.49 a share, there’s a lot of upside potential (buyout at some point by large investors/companies who like a proven product that’s earning profits?).
Here’s some additional AI companies to research:
- Microsoft NASDAQ:MSFT
- Alphabet NASDAQ:GOOGL
- IBM
- Amazon NASDAQ:AMZN
- Intel
- UiPath Inc NYSE:PATH
- Broadcomm (AVGO)
- Marvell Technology (NASDAQ: MRVL)
- Apple
- Tesla
- Meta Platforms (META)
- Taiwan Semiconductor Ltd. (TSM)
- ASML Holding NV (ASML)
- Salesforce
- Adobe
- META Platforms NASDAQ:META
- Alteryx
- SentinelOne
- PROS Holdings
- Duolingo
- iRhythm Technologies
Insider Monkey scanned Jim Cramer’s 10 Best AI Stocks and here they are:
- Broadcom Inc. (NASDAQ:AVGO)
- Oracle Corporation (NYSE:ORCL)
- Adobe Inc. (NASDAQ:ADBE)
- Advanced Micro Devices, Inc. (NASDAQ:AMD)
- Salesforce, Inc. (NYSE:CRM)
- Alphabet Inc. (NASDAQ:GOOG)
- NVIDIA Corporation (NASDAQ:NVDA)
- Meta Platforms, Inc. (NASDAQ:META)
- Amazon.com, Inc. (NASDAQ:AMZN)
- Microsoft Corporation (NASDAQ:MSFT)
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