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2 AI Stocks To Watch In May 2023

Two AI stocks to watch in the stock market this week.

AI stocks to watch

The Artificial Intelligence (AI) sector has experienced an extraordinary expansion and metamorphosis in recent years. This has been driven by notable innovations in machine learning, deep learning, natural language processing, and computer vision. As a result, AI has become an essential component in a variety of industries. Such as healthcare, finance, manufacturing, and transportation, among others. The growing need for smart automation and data-driven decision-making has encouraged organizations to make significant investments in AI technologies, leading to a substantial increase in market value.

AI stocks include a wide range of businesses, from established technology giants to smaller, specialized start-ups. Leading companies in the industry, such as Microsoft (NASDAQ: MSFT), NVIDIA (NASDAQ: NVDA), and IBM (NYSE: IBM), have consistently dedicated considerable resources to AI research and development, solidifying their positions as innovators in the space.

In addition to these major players, numerous burgeoning companies focus on specific AI applications, like autonomous vehicles, robotic process automation, and predictive analytics. As the AI sector persists in its development and refinement, investors need to stay vigilant in their analysis of AI stocks, carefully observing both the competitive environment and the potential for groundbreaking discoveries that could revolutionize the market. That being said, here are two ai stocks to watch in the stock market in May 2023.

AI Stocks To Watch Today

C3.AI (AI Stock)

First up, C3.ai Inc. (AI) is a leading enterprise AI software provider that enables businesses to harness the power of AI for digital transformation. Their comprehensive suite of solutions caters to a wide range of industries, helping organizations streamline operations, improve efficiency, and make data-driven decisions.

In the company’s most recent news release, C3 AI announced that the U.S. Air Force has designated its Predictive Analytics and Decision Assistant (PANDA) as the official system of record for Condition Based Maintenance Plus (CBM+) and predictive maintenance. Developed in collaboration with the U.S. Air Force, PANDA leverages the C3 AI Platform and Readiness application to optimize fleet maintenance, enhance aircraft availability, and minimize downtime.

Since the start of 2023, shares of AI stock have advanced by 60.98% year-to-date. Meanwhile as of this past Friday’s closing bell, AI stock is trading at around $17.82 per share.

Source: TD Ameritrade TOS

[Read More] Top Stocks To Buy Now? 2 Undervalued Stocks To Watch

Alphabet (GOOGL Stock)

Second, Alphabet Inc. (GOOGL) is a global technology giant and the parent company of Google, which dominates the online search, digital advertising, and cloud computing markets. Alphabet’s vast array of products and services includes AI technologies such as Google Assistant, machine learning tools, and autonomous vehicles.

Last week, Alphabet reported better-than-expected first-quarter 2023 earnings results. In detail, the company posted earnings of $1.17 per share, along with revenue of $69.8 billion. This is versus analysts’ consensus estimates for the quarter which was earnings of $1.06 per share, on revenue estimates of $68.9 billion.

Year-to-date, shares of Alphabet stock have increased by 20.44% so far. While, this past Friday, shares of GOOGL stock closed the trading day at $107.34 a share.

Source: TD Ameritrade TOS

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By Jonathan Phillip

Jonathan Phillip is an up and coming financial contributor in the stock market today. He's found a strong niche in writing about true growth industries. His main focus for the last 5 years has been on the cannabis industry and marijuana stocks. He is one of the top contributors to cannabis media outlets like MarijuanaStocks.com. He also is head of social media management for StockMarket.com.

Since an early age, Jonathan has been an active member of the cannabis culture. Coming from Miami, Florida, he's been able to identify emerging trends in the space including the emergence of cannabis derivatives, vapes, e-liquids, wax, and more. His ability to identify emerging niches has afforded him the ability to source valuable information from top industry names.

Jonathan has also managed to build a strong social media presence for companies. He has worked with hundreds of public companies to develop a digital presence. As an active blogger and social media influencer, his focus is on lifestyle segments of the market. You can find Jonathan reporting on anything from industry conferences and investor events to corporate disclosures and cannabis market movers.

Since the early days of marijuana companies going public, Jonathan has made it a point to find information before the crowd. The main target of his writing is on undiscovered or under-researched companies that could hold true, lasting market potential. Through his research, Jonathan has managed to be one of the early writers to identify the opportunity of cannabis over other things like alcohol and he was one of the first reporters to cover the multi-billion dollar deals that materialized in 2017 and 2018. He has also covered the emergence of multi-state operators in the U.S. after Canada paved the way in late 2018 and 2019 for legalization in North America.

Jonathan is also an active member of the underground hip-hop scene. He has worked with some of the biggest names in the rap community while also gaining valuable insight from top producers and business moguls focused on moving brands forward. In his free time, Jonathan builds social communities and continues to hone his skills as a leading financial writer.

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