5 Top Artificial Intelligence Stocks To Watch Ahead Of September 2021
While investors are wondering why stocks are down this week, tech stocks could be worth noting. In particular, some of the best artificial intelligence (AI) stocks in the stock market today would be viable plays. This would be mostly due to the sentiment around reopening stocks continuing to waver as coronavirus fears escalate. So much so that cruise line stocks such as Carnival (NYSE: CCL) continue to lose steam. Now, should this trend continue, I could see investors turning back towards the tech industry, and AI stocks by extension.
If anything, the AI market continues to grow at breakneck speeds right now. In fact, Grand View Research estimates that the $62.35 billion industry could grow at a compound annual growth rate of 40.2% through 2028. With the applications for AI tech expanding across global industries, this growth would make sense. Even now, AI tech plays a crucial role in a vast array of markets in the world today. Evidently, from tech giants like Microsoft (NASDAQ: MSFT) to e-commerce names like Stitch Fix (NASDAQ: SFIX), this appears to be the trend. Overall, as AI companies continue to bolster their tech and use cases continue to increase, AI stocks would be in focus. With this in mind, here are five AI stocks making headlines in the stock market now.
Top Artificial Intelligence Stocks To Watch Now
- Alibaba Group Holdings Ltd. (NYSE: BABA)
- Tremor International (NASDAQ: TRMR)
- Nvidia Corporation (NASDAQ: NVDA)
- Amazon.com Inc. (NASDAQ: AMZN)
- C3Ai Inc. (NYSE: AI)
Alibaba Group Holdings Ltd
Alibaba is a multinational technology company that specializes in e-commerce, AI, and cloud computing. Its Alibaba Cloud provides services to thousands of enterprises, developers, and government organizations in more than 200 countries and regions. BABA stock currently trades at $162.35 as of 11:47 a.m. ET. Earlier in the month, the company reported its second-quarter financials.
Diving in, revenue for the quarter was $31.86 billion, an increase of 34% year-over-year. Also, Alibaba reported that its annual active consumers around the world reached approximately 1.18 billion. This includes 912 million consumers in China and 265 million consumers overseas served by Lazada, AliExpress, Trendyol, and Daraz. The company also reported a net income of $6.63 billion for the quarter. Notably, its cloud computing revenue grew by 29% to $2.48 billion, primarily driven by robust growth in revenue from customers in the internet, financial services, and retail industries. With such impressive financials, will you consider adding BABA stock to your portfolio?
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Tremor International Ltd.
Tremor International is a global leader in all-screen video advertising technologies. It boasts a leading-edge end-to-end platform to provide an automated marketplace for advertisers and publishers. The company leverages on advanced data-driven technology to deliver impactful brand stories for audiences across the globe. TRMR stock currently trades at $21.64 as of 11:48 a.m. ET. The company reported a record second-quarter today.
The company reported a record second-quarter today. Firstly, the company reported a revenue of $81.4 million for the quarter, increasing by 128% year-over-year. Tremor says that this is due to an increase in client spending on programmatic advertising. Secondly, the company also posted a total comprehensive income of $24.4 million compared to a loss of $12.7 million a year ago. This impressive revenue growth is one of the highest across its peer group and Tremor says that it will continue to invest in product innovation and business development. All things considered, will you consider watching TRMR stock right now?
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Nvidia Corporation is an AI company that has revolutionized the industry. Given that the company pioneered the graphics processing unit (GPU), it has advanced the fields of AI significantly as well. Deep learning in data centers, cloud, and on devices rely on GPU acceleration after all for both training and inference. It also has one of the world’s first portfolios of purpose-built AI supercomputers, dubbed the Nvidia DGX systems. NVDA stock currently trades at $203.92 as of 11:52 a.m. ET and is up by over 40% year-to-date.
On Wednesday, the company reported yet another record quarter. Revenue for its second quarter is $6.51 billion, up by 68% from a year earlier. Both its Gaming and Data Center segments also reported record revenue, at $3.06 billion and $2.37 billion respectively. Net income for the quarter is $2.37 billion, up by over 250% year-over-year. The company also launched Nvidia Omniverse this quarter, a simulation platform that runs physically realistic virtual worlds and connects to other digital platforms. Given the excitement surrounding the company, will you consider NVDA stock a top artificial intelligence stock to watch?
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Another name to consider in the AI space now would be Amazon. Specifically, we will be taking a look at the company’s Amazon Web Services (AWS) division. Sure, AWS is now developing the leading cloud computing service in the industry. Aside from that, Amazon’s tech endeavors continue to expand across the fields of quantum computing, data storage, and AI among others. Today, the company employs pre-trained “AI Services” to help its AWS customers manage their applications and workflows in the AWS cloud.
With AMZN stock trading at $3,226.74 as of 11:53 a.m. ET, could it be worth jumping on? If anything, the company does not seem to be slowing down anytime soon on the operational front. Firstly, AWS recently secured a $10 billion cloud-computing contract with the National Security Agency. This would speak towards the quality of the company’s tech offerings. Moreover, Amazon is reportedly looking to open physical retail locations, according to The Wall Street Journal. Even with its current momentum in the tech and e-commerce industries, the company continues to make aggressive plays. Would this make AMZN stock a top watch in the market for you?
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C3 AI is a leading enterprise AI software provider that accelerates digital transformation. It delivers the C3 AI Suite for developing, deploying, and operating large-scale AI, predictive analytics, and IoT applications in addition to an increasingly broad portfolio of turn-key AI applications. The company will be reporting its first-quarter financials for fiscal 2022 on September 1, 2021. AI stock currently trades at $44.85 as of 11:55 a.m. ET.
Last month, the company announced that it was named as a Leader in the IDC MarketScape for industrial platforms and applications in energy solutions. The IDC MarketScape positioned C3 AI in the Leaders Category for its cohesive platform for data, strong industry expertise, and enterprise AI capabilities.
“As the energy sector is becoming more responsive to emerging customer and market demands, innovations like the Internet of Things and enterprise AI are essential game changers that improve business productivity and reduce costs,” said Kevin Prouty, IDC group vice president of energy and manufacturing insights. For these reasons, will you consider adding AI stock to your watchlist?