Artificial Intelligence (AI) is an exciting technology that has been gaining popularity in recent years. AI refers to the development of computer systems that can perform tasks that normally require human intelligence. This includes things such as learning, reasoning, and problem-solving. This technology has the potential to revolutionize a wide range of industries. From healthcare to transportation, it is already being used in various applications such as chatbots, image recognition, and self-driving cars.
As an investor, you may be interested in buying stocks of companies that are involved in the development and implementation of AI technology. These companies are often referred to as artificial intelligence stocks. Moreover, they include both established tech giants and smaller startups.
Investing in AI stocks can be a lucrative opportunity. But it’s important to keep in mind that this is a fast-moving and highly competitive industry. Additionally, there is no guarantee that any particular company will succeed. Therefore, it’s important to do your research and evaluate the potential risks and rewards before investing in AI stocks. Knowing this, here are two artificial intelligence stocks to watch in the stock market today.
Artificial Intelligence Stocks To Buy [Or Sell] Now
- NVIDIA Corporation (NASDAQ: NVDA)
- Alphabet Inc. (NASDAQ: GOOGL)
NVIDIA Corporation (NVDA Stock)
To begin, NVIDIA Corporation (NVDA) is a leading semiconductor company that specializes in graphics processing units (GPUs) and AI technologies. The company’s GPUs are used in a variety of applications, including gaming, data centers, and autonomous vehicles. NVIDIA has been at the forefront of AI research and development.
This week, NVIDIA announced it has partnered with Google Cloud. The agreement will provide the newly launched L4 GPU and Vertex AI to help companies speed up the development of generative AI applications. Google Cloud is the first cloud services provider to offer NVIDIA’s L4 Tensor Core GPU. Also, the L4 GPUs will be available on Vertex AI with optimized support. With this partnership, developers can access state-of-the-art technology to build, tune and deploy large generative AI models more efficiently and cost-effectively.
In the last month of trading, shares of NVDA stock are up 26.24%. Meanwhile, during Wednesday’s pre-market trading session, NVDA stock is trading modestly higher by 0.73% at $261.99 per share.
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Alphabet (GOOGL Stock)
Next, Alphabet Inc. (GOOGL) is the parent company of Google, one of the world’s largest technology companies. Google has been investing heavily in AI research and development. As well as its products, such as Google Assistant and Google Translate, are powered by AI technologies.
Last month, Alphabet announced its Q4 2022 earnings results. Diving in, the company posted fourth-quarter 2022 earnings of $1.05 per share, along with revenue of $76 billion. This came in under Wall Street’s consensus estimates. Which were earnings per share of $1.14 on revenue estimates of $76.6 billion.
In the last month of trading, Alphabet stock has recovered by 14.48%. While, during Wednesday’s premarket trading session, shares of GOOGL stock are trading lower by 1.14% at $103.72 a share.
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