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Top AI-based companies stocks to watch out for (MSFT, Nvidia, AMZN)

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March 23, 2023


What’s Inside

If you’re planning to invest in Artificial Intelligence (AI) stocks, now may be the right time. In recent years, the use of Artificial Intelligence (AI) has shot up significantly. Experts predict that the market size for AI may touch $1,597 billion by 2030, at a staggering CAGR of 38.1%.

By investing in stocks that leverage this cutting-edge technology, you get to future proof your investment portfolio early on. Additionally, you also get to diversify your portfolio, thereby reducing your overall investment risk

Look Who’s Making Waves in the AI Industry

Globally, there are many prominent AI players. Companies like Intel Corporation and NVIDIA are developing and deploying Artificial Intelligence to make their manufacturing processes more efficient. In the software sector, IBM and Amazon are two of the largest companies extensively using Artificial Intelligence.

Countries like the U.S. and Russia are predominantly investing heavily in AI. Fortunately, India is not that far behind either. Some of the key AI stocks in India belong to companies like Tata Elxsi and Affle India, which provide customer-facing solutions using Artificial Intelligence. You also have Cyient Limited, a company that uses AI to provide industrial automation and engineering services.

Top Artificial Intelligence Stocks to Have on Your Radar

If you’re not sure which AI company stocks to invest in, maybe this list will help.


NVIDIA is an American tech company that’s known for manufacturing graphics hardware, which is widely used in creative design and gaming. Through the NVIDIA AI platform, the company is also significantly contributing to the development of Artificial Intelligence.

Listed on: Nasdaq

Share price as of February 22, 2023: $206.55

Tata Elxsi

One of India’s largest providers of design and technology services, Tata Elxsi extensively uses Artificial Intelligence in its operations. The company has several AI-powered service offerings, which include driver behavioural analysis, customer experience management, and conversational chatbots.

Listed on: BSE and NSE

Share price as of February 22, 2023: Rs. 6,520.75 (BSE) and Rs. 6,517.95 (NSE)


IBM is one of the largest contributors to Artificial Intelligence in the world. The American multinational company’s AI offering — Watson — is a state-of-the-art tool that can transform into a virtual agent, data management service or even a text analyzer.

Listed on: NYSE

Share price as of February 22, 2023: $131.71

Happiest Minds Technologies

Another Indian company to make it to the list, Happiest Minds Technologies uses Machine Learning (ML), a subset of Artificial Intelligence, to make business processes more efficient. The company also uses AI to provide solutions like process automation, video analytics, and more.

Listed on: BSE and NSE

Share price as of February 22, 2023: Rs. 876 (BSE) and Rs. 876.30 (NSE)

Affle India

Affle India, one of the pioneering companies in the country in the AI domain, provides an AI-powered mobile marketing platform. Using Artificial Intelligence, the company’s platform determines consumer interest and directs advertisements accordingly.

Listed on: BSE and NSE

Share price as of February 22, 2023: Rs. 1,022.50 (BSE) and Rs. 1,021.50 (NSE)

Diversify Your Portfolio with AI Stocks

Investing in Indian and global Artificial Intelligence stocks can diversify your portfolio and help you create wealth over the long term. If AI stocks in the US markets are what you’re interested in, the Fi Money app can help you quickly and seamlessly invest in international stocks like Amazon, Google, IBM and others at highly competitive forex rates and zero brokerage fees.

Frequently Asked Questions

1. Why should I invest in AI companies?

From where we stand today, AI appears to be the future. Companies leveraging Artificial Intelligence may see an increase in operational efficiency, cost reduction and revenue growth in the coming years. This, in turn, could lead to a rise in their value over time. By investing in such companies, you gain the benefit of capital appreciation.

2. Are AI stocks a good investment?

With the market for Artificial Intelligence set to grow by about 38.1% from 2022 to 2030, long-term investments in AI stocks may be a good financial decision.

3. Who is the leading company for AI?

IBM, Amazon, Google, and Tata Elxsi are a few leading companies that are leveraging AI to make business processes more efficient. OpenAI is another company that’s investing heavily in user-friendly AI. That said, you may not be able to invest in the openAI company stock since it is not publicly traded.


Investment and securities are subject to market risks. Please read all the related documents carefully before investing. The contents of this article are for informational purposes only, and not to be taken as a recommendation to buy or sell securities, mutual funds, or any other financial products.
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