The artificial intelligence (AI) sector is rapidly evolving, with AI technologies transforming various industries including healthcare, automotive, finance, and more. Companies in this sector develop and use AI to enhance decision-making, automate processes, and create new products and services. Investing in AI stocks involves companies that are at the forefront of machine learning, deep learning, and related technologies.
Buying AI stocks offers significant advantages such as high growth potential as these technologies become more integrated into everyday business solutions and consumer products. Many AI companies are leaders in innovation, continuously evolving and capturing new market opportunities. However, this sector also presents risks including high volatility and uncertainty around regulation and technological viability. These stocks can be affected by shifts in technology trends or regulatory changes which may impact profitability.
Despite these risks, AI stocks are popular among investors looking to capitalize on the tech-driven future. While these investments may offer substantial returns, they also require careful consideration of market trends, company fundamentals, and technological advancements. This makes AI stocks particularly suited for those who have a good understanding of the tech industry and are comfortable with potential volatility. With this on top of mind, let’s look at two AI stocks to watch in the stock market now.
AI Stocks To Buy [Or Avoid] Right Now
- Palantir Technologies Inc. (NYSE: PLTR)
- NVIDIA Corporation (NASDAQ: NVDA)
Palantir Technologies (PLTR Stock)
To initiate, Palantir Technologies Inc. (PLTR) specializes in big data analytics, offering software platforms that enable organizations to integrate, manage, and secure data. Palantir provides solutions that help governments and businesses analyze large volumes of information for decision-making. Their products, including Palantir Gotham and Palantir Foundry, are used in a variety of sectors. Such as defense, intelligence, public safety, and healthcare.
This month, Palantir Technologies announced its designation as an “Awardable” vendor in the Department of Defense’s Chief Digital and Artificial Intelligence Office’s Tradewinds Solutions Marketplace. This recognition adds Palantir’s AI Mission Command Capability and its Predictive Maintenance & Precision Sustainment Suite to the Marketplace, making them available to support critical missions across the Department of Defense. The Tradewinds Solutions Marketplace serves as a digital platform where tested and vetted AI, data, and analytics solutions can be expedited for procurement to meet the department’s needs.
Year-to-date, shares of PLTR stock have gained by 36.85% thus far. While, during Monday morning’s trading session, Palantir stock opened higher by 0.62%, currently trading at $22.67 per share.
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NVIDIA Corporation (NVDA Stock)
Following that, NVIDIA Corporation (NVDA) is a global leader in graphics processing units (GPUs) and artificial intelligence technology. NVIDIA initially focused on developing graphics chips for gaming, but its technology now powers a broad range of computing applications including automotive, robotics, and data centers.
Last month, NVIDIA announced its advancements in AI technologies, specifically highlighting its digital human technologies at the global AI conference, GTC, in San Jose. These technologies enable developers to create lifelike avatars and dynamic characters for applications ranging from gaming to healthcare. The suite includes NVIDIA ACE for animation and speech, NVIDIA NeMo for language processing, and NVIDIA RTX for ray-traced rendering. This suite is used by developers across various industries to craft realistic and interactive AI-powered characters, improving engagement in digital interactions.
This year so far, NVIDIA’s stock has increased by 78.05% year-to-date. Moreover, during Monday morning’s trading session, shares of NVDA stock opened down by 2.23%, currently trading at $857.78 a share.
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