Artificial intelligence (AI) is one of the most exciting and rapidly growing areas of technology. The technology has the potential to transform industries from healthcare to finance. AI refers to the use of computer algorithms and machine learning to simulate human intelligence. This allows machines to perform tasks that would traditionally require human input. This technology has the potential to revolutionize everything. From product development to customer service, companies around the world are investing heavily in AI research and development to stay competitive.
Buying AI stocks can be an effective way for investors to gain exposure to this rapidly growing industry. AI companies can provide opportunities for growth and capital appreciation. This comes as companies that innovate and succeed in bringing new products to market can experience significant gains in their stock prices.
Though, it is important to carefully evaluate individual stocks to ensure that they are a good fit for your investment goals and risk tolerance. AI companies can be highly competitive. Their performance can be impacted by factors. For example global economic conditions, geopolitical tensions, and regulatory changes. That being said, here are three top ai stocks to watch in the stock market today.
AI Stocks To Watch Today
Alphabet (GOOGL Stock)
First, Alphabet Inc. (GOOGL) is the parent company of Google, one of the largest and most influential technology companies in the world. While Google is best known for its search engine and advertising platforms, the company has also made significant investments in AI research and development. This includes the development of its own AI hardware and software platforms.
Back in February, Alphabet announced its most recent Q4 2022 financial results. In the report, the company notched in earnings of $1.05 per share, along with revenue of $76.0 billion. This is compared to Wall Street’s estimates for the quarter which were earnings of $1.14 per share, and revenue estimates of $76.6 billion.
In 2023 thus far, shares of Alphabet stock have recovered by 18.93% year-to-date. While during Monday’s mid-morning trading session, GOOGL stock is trading lower on the day so far by 2.26% at $105.97 per share.
Microsoft (MSFT Stock)
Second, Microsoft Corporation (MSFT) is a technology company that produces a wide range of products. Such as software, hardware, and cloud services. The company has been investing heavily in AI research and development, with a particular focus on developing natural language processing and computer vision technologies.
Last month, Microsoft announced that it has appointed Sandra E. Peterson, Operating Partner at Clayton, Dubilier & Rice, as Lead Independent Director, succeeding John W. Thompson who had served in the role since 2012. In addition to this announcement, Microsoft’s board also declared a quarterly dividend of $0.68 per share, which is payable on June 8, 2023, to shareholders of record on May 18, 2023.
Year-to-date, Microsoft stock has surged by 20.09% so far. Moreover, on Monday ahead of the lunchtime trading session, shares of MSFT stock opened lower by 1.31% on the day so far at $287.78 a share.
NVIDIA Corp. (NVDA Stock)
Last but not least, NVIDIA Corporation (NVDA) is a leading producer of graphics processing units (GPUs). They are used in a wide range of applications, including gaming, data centers, and self-driving cars. The company has also been investing heavily in AI research and development, and its GPUs are widely used for deep learning and other AI applications.
In March, NVIDIA announced that Google Cloud is integrating its newly launched L4 Tensor Core GPU and Vertex AI to help companies accelerate their work on generative AI applications. Google Cloud will be the first cloud services provider to offer the L4 Tensor Core GPU, which will also be available with optimized support on Vertex AI. The L4 GPU is designed to be a universal GPU for every workload, with advanced AI video capabilities that can offer significantly better AI-powered video performance than CPUs while using 99% less energy.
Since the start of 2023, shares of NVDA have jumped by 90.63%. Meanwhile, during Monday’s late-morning trading session, NVDA stock is trading higher on the day by 1.00% at $273.07 a share.