The AI sector represents companies focused on developing and implementing artificial intelligence technologies. These firms range from tech giants to specialized startups. AI stocks are shares in companies that heavily invest in or utilize AI. The sector includes software developers, chip makers, and companies applying AI to various industries. AI is seen as a transformative technology with potential applications across numerous fields.
Investing in AI stocks can offer significant growth potential. Many AI companies are at the forefront of technological innovation. They may benefit from increasing adoption of AI across industries. Some AI stocks have shown impressive returns in recent years. However, the sector also carries risks. AI stocks can be volatile due to rapid technological changes. Many AI companies are still in early stages and may not be profitable. The sector faces potential regulatory challenges and ethical concerns.
When considering AI stocks, thorough research is crucial. Look at a company’s AI capabilities, market position, and financial health. Consider the practical applications and market demand for their AI technologies. Diversification within the AI sector or across other tech areas can help manage risk. Stay informed about AI trends and their potential impact on various industries. That said, here are two AI stocks to watch in the stock market today.
AI Stocks To Invest In [Or Avoid] Now
- Palantir Technologies Inc. (NYSE: PLTR)
- NVIDIA Corporation (NASDAQ: NVDA)
Palantir Technologies (PLTR Stock)
Starting off, Palantir Technologies Inc. (PLTR) is a software company specializing in big data analytics. They develop platforms for integrating, analyzing, and securing large datasets. Palantir’s products are used by government agencies, financial institutions, and various industries for data-driven decision-making.
This month, Palantir announced an expanded partnership with Microsoft for national security operations. They will integrate Microsoft’s language models with Palantir’s AI platform in classified cloud environments. Palantir will deploy its products across various Azure Government cloud levels. The collaboration aims to enable AI-driven workloads in defense and intelligence sectors. These could cover areas like logistics and action planning. The services will be available after government approval. This partnership represents a major advancement in AI capabilities for national security.
Over the last six months of trading, shares of Palantir Technologies stock have jumped by 19.66%. Meanwhile, on Monday morning, PLTR stock is trading slightly down off the open by 0.20%, at $29.96 a share.
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NVIDIA Corporation (NVDA Stock)
Next, NVIDIA Corporation (NVDA) is a technology company known for designing and manufacturing graphics processing units (GPUs). They originally focused on computer gaming but have expanded into areas like artificial intelligence and data centers. NVIDIA’s GPUs are widely used in high-performance computing, machine learning, and autonomous vehicles.
Late last month, NVIDIA announced its upcoming conference call for second-quarter financial results. The call is scheduled for August 28, 2024, at 2 p.m. PT. NVIDIA will webcast the call live on their investor relations website. The company’s CFO, Colette Kress, will provide written commentary on the results before the call. The call will include a question-and-answer session for financial analysts and institutional investors.
Looking at the last six months, shares of NVDA stock have surged by 51.88%. While, during Monday morning’s trading action, NVIDIA Corp. stock is trading up 5.22% on the day, currently trading at $110.22 per share.
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