With AI making headlines all over the world, artificial intelligence stocks are now on nearly every eager investor’s radar. AI is the future because it continues to revolutionise and redefine almost every aspect of life. It creates waves in varied domains like healthcare, education, entertainment and data analytics.
The data about the future predictions for the AI industry are predominantly positive. The technology is expected to create 12 million more jobs than it will replace. The global AI market is also expected to grow at a CAGR of over 37% by 2030.
A closer look at the AI market reveals many pioneers and leaders in different domains of artificial intelligence. The most popular names, of course, include tech giants like Amazon, Apple, Microsoft, Google and IBM. Apart from these big names, many other companies are tapping into artificial intelligence to streamline different processes.
Banjo uses AI to identify real-time emergency events for public safety. Chinese company DJI has taken the lead in drone-based AI, and biotechnology company Freenome uses AI to facilitate early cancer detection. The use cases for AI vary greatly, from fields like security, robotics and e-commerce to healthcare, education and finance. However, the average retail investor can only invest in artificial intelligence shares of listed companies.
Here is a list of the top 5 AI stocks in the US markets that you can add to your portfolio.
Microsoft has been a pioneering tech player for several years now. And with the advent of AI, the company is expanding its horizons once more. Microsoft has already invested $10 billion in ChatGPT maker OpenAI.
Listed on: Nasdaq
Share price as of 28 February 2023: $249.42
Tesla has been a game-changer in the EV segment in particular. With autonomous driving as its long-term goal, the automaker is another AI stock to watch out for in 2023.
Listed on: Nasdaq
Share price as of 28 February 2023: $205.71
NVIDIA may be most famous for its processor chips, but it is also heavily invested in artificial intelligence. Other tech giants like Alphabet and Facebook already rely on NVIDIA’s advanced learning chips for various functions.
Listed on: Nasdaq
Share price as of 28 February 2023: $232.16
Known as Google and listed as Alphabet, the company already uses artificial intelligence in many products. Google also has many AI projects lined up, making it another noteworthy AI stock to consider in 2023.
Listed on: Nasdaq
Share price as of 28 February 2023: $90.06
C3.AI may be a smaller contender on this list, but its enterprise-level AI solutions are rapidly becoming popular. The company’s clientele includes some of the biggest names in different industries, such as oil company Shell and tech leaders like Amazon and Alphabet.
Listed on: NYSE
Share price as of 28 February 2023: $22.58
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Yes, artificial intelligence stocks make for a good investment because the industry appears to have excellent growth prospects. For this reason, experts and analysts consider AI a good long-term investment option.
There are many AI stocks that investors across the world have on their watchlists, including IBM, Baidu and Alphabet stocks. Some of these include Microsoft, C3 AI, among others.
The answer to this is subjective, depending on the kind of AI being considered. That said, ScienceSoft, IBM and Microsoft are among the top companies in this market segment.
