Artificial Intelligence, commonly referred to as AI, is the game-changing technology behind machines that can think, learn, and make decisions similarly to humans. It’s the force behind innovations like self-driving cars, chatbots, and recommendation systems on our favorite streaming services. As we increasingly integrate AI into our daily lives, it’s no exaggeration to say that this technology might shape the future of numerous industries, from healthcare to finance, and even entertainment.
Given the expansive influence and potential of AI, stocks centered around this technology have garnered significant attention in the financial world. Companies involved in AI research, application, or service provision have seen substantial growth, making AI stocks some of the most-watched in the market. As AI technologies advance and businesses integrate these tools further, the financial implications could be vast, and many investors believe these stocks might be the giants of tomorrow.
However, as enticing as the AI sector may seem, investing in AI stocks is not without its intricacies. The industry is evolving rapidly, and companies face both technical and ethical challenges. Potential investors should approach with an informed perspective, understanding both the transformative potential of AI and the volatility that can come with such a dynamic field. Like all investments, knowledge, and due diligence are key to navigating the AI stock landscape. Keeping this in mind, here are two AI stocks to check out in the stock market today.
AI Stocks To Watch Right Now
Microsoft (MSFT Stock)
Starting off, Microsoft Corporation (MSFT) stands as one of the world’s leading technology companies. Microsoft’s primary contributions to the technology sector include the development and proliferation of its Windows operating system, its suite of Office productivity software, and a diverse range of other products and services spanning from cloud computing with Azure to hardware offerings like the Surface devices and Xbox gaming consoles.
Late last month, Microsoft announced its Q4 2023 earnings results. Diving in, the company notched in earnings of $2.69 per share with revenue coming in at $56.19 billion. This beat analysts’ consensus estimates for the quarter which were earnings per share of $2.54, and revenue of $55.44 billion. Additionally, revenue increased by 8.34% on a year-over-year basis.
Looking at the last month of trading action, shares of Microsoft stock have pulled back by 3.61%. While, during Friday’s early afternoon trading session, MSFT stock is trading at $320.66 a share.
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NVIDIA (NVDA Stock)
Next, Nvidia Corporation (NVDA) specializes in the design and production of graphics processing units (GPUs). While traditionally these GPUs have been essential for rendering graphics in video games, they have recently found significant applications in areas such as artificial intelligence, deep learning, and data center computation.
Earlier this month, NVIDIA announced when it will release its most recent Q2 FY 2024 financial results. In detail, the company is set to report these results on Wednesday, Aug. 23, 2023, after the close of the U.S. stock market.
In the last month of trading, shares of NVDA stock have dropped by 3.29%. Meanwhile, during Friday’s afternoon trading session, NVIDIA stock is trading down 3.29% on the day, at $409.95 a share.