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2 Artificial Intelligence Stocks To Watch This Week

Here are two artificial intelligence stocks to check out in the stock market this upcoming week.

artificial intelligence stocks

The artificial intelligence (AI) sector is a rapidly growing area in the tech industry, focusing on creating intelligent machines that work and react like humans. AI technology includes machine learning, natural language processing, and robotics, impacting various industries like healthcare, finance, and automotive. Companies in this sector range from large tech giants to specialized startups, all contributing to the development and application of AI.

Investing in AI stocks presents several advantages. AI is at the forefront of technological innovation, offering significant growth potential as its applications expand. Investments in AI can lead to potential substantial returns as these technologies become integral to various business operations and consumer products. However, there are also disadvantages. The AI sector is highly competitive and fast-paced, making it challenging to predict which companies will succeed. Moreover, high research and development costs can impact profitability, especially for smaller companies.

Investors in AI stocks should be aware of the sector’s volatility. Rapid technological changes can quickly alter the competitive landscape. Additionally, ethical and regulatory considerations surrounding AI can affect market dynamics. If reading this has you interested in the AI sector, here are two AI stocks to watch in the stock market this week.

AI Stocks To Buy [Or Avoid] This Week

Snowflake (SNOW Stock)

Leading off, Snowflake Inc. (SNOW) is a cloud-based data warehousing company that offers a unique, cloud-built data platform. Snowflake provides solutions for data storage, processing, and analytic solutions that are faster and more efficient than traditional offerings. Their platform supports a wide range of data workloads, including data engineering, data lakes, data applications, and data sharing.

Late last month, Snowflake reported its third quarter 2024 financial results. In detail, the company announced a loss of $0.08 per share, along with revenue of $734.17 million for Q3 2024. This was versus estimates for the quarter which were an EPS of $0.14, and revenue estimates of $712.78 million. Additionally, revenue increased by 31.80% compared to the same period, the previous year.

Year-to-date, shares of Snowflake stock have increased by 46.87% so far. Meanwhile, as of this past Friday’s closing bell, SNOW stock closed the day at $199.01 per share.

[Read More] Best Stocks To Buy In December 2023? 3 Mag 7 Stocks To Watch

Palantir Technologies (PLTR Stock)

Next, Palantir Technologies Inc. (PLTR) specializes in big data analytics. The company develops software that integrates, manages, and secures data from various sources. Palantir’s platforms are used by governments and commercial organizations for intelligence gathering, counterterrorism, and analyzing large datasets.

Just last week, Palantir Technologies announced an extension of its contract with the U.S. Army’s Program Executive Office for Enterprise Information Systems. This extension, valued at $115.04 million, continues Palantir’s role in enhancing the Army Vantage program. The program integrates various data sources to aid the U.S. Army in data-driven operations and decision-making. Under this contract, Palantir will keep providing its data and analytics platform, supporting the Army’s move towards an integrated data ecosystem. This move highlights Palantir’s ongoing contribution to the U.S. military’s strategic use of data.

Moving along, in 2023 so far, shares of PLTR stock have advanced by 184.82% YTD. Moreover, as of this past Friday’s closing bell, Palantir stock is trading at around $18.20 a share.

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By Joe Samuel

Joe Samuel is a dedicated stock market researcher and financial contributor. His love for the stock market started at a young age learning from his grandfather. Joe earned a bachelor of science degree in corporate finance and business management. After finishing college, he went the route of an entrepreneur starting numerous businesses and eventually became a financial contributor to a number of outlets including Seeking Alpha, Invesitng.com, and actively contributes to FactSet. At StockMarket.com, Joe looks for emerging stories. One of his traits is identifying new trends before they become mainstream. Whether it’s a biopharmaceutical company debuting a novel treatment or the next technology start-up developing a new platform, Joe looks to be on the cutting edge of that trend.

After years of living in New York, he made the move to Miami, Florida where he’s become an active member of the finance community. Joe has worked with early-stage companies in marketing and consulting capacities, which has given him an opportunity to see what makes companies tick. His viewpoint is that while corporate news is vital to any investment, it’s what isn’t “right in front of you” that can make a good investment great. His approach to the markets is one that aims to deliver information that might not be well-known. But through deep research and diligence, Joe has written about and been able to uncover time-sensitive information when seconds matter in the stock market today.

Joe enjoys covering several stock market sectors. These include commodities, finance, biotechnology, and technology; specifically AI & machine learning. His no-nonsense approach to the market gives readers a cut and dry view of the news that matters most and topics beginning to emerge as new trends in the stock market. He was early to the table with calls on things like the last gold rush in 2019 and has been able to identify influential events and how they could impact certain industries.

During his free time, he enjoys spending time with his family and polishing up one new stock market trends. He’s also an avid car enthusiast with a passion for classic and muscle cars.

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