Artificial intelligence, or AI, is rapidly becoming one of the most exciting and promising areas of technology. As a retail investor, you may be wondering how you can get in on the action and invest in companies that are at the forefront of this rapidly-evolving field. In this article, we will explore the world of AI stocks. As well as discuss some of the key considerations for retail investors looking to invest in this rapidly-growing sector.
First and foremost, it’s important to understand that the AI industry is incredibly diverse. There are companies working on a wide range of technologies and applications. Some companies focus on developing cutting-edge algorithms and software that can be used to analyze large amounts of data. While others are working on developing physical robots and other hardware that can be used in a variety of industries. As a result, there is a wide range of AI stocks available to investors. While each with its own set of risks and potential rewards.
One of the key considerations for retail investors looking to invest in AI stocks is to do their research and carefully evaluate the companies they are considering investing in. This means looking at factors such as the company’s financials, management team, and competitive landscape. It’s also important to keep an eye on industry trends and developments. This can come in the form of any regulatory changes that may impact the sector. By taking the time to do your due diligence, you can increase your chances of finding AI stocks that offer strong growth potential. With that being said, here are three blue-chip artificial intelligence companies to watch in the stock market now.
Artificial Intelligence Stocks To Watch Right Now
- Alphabet Inc. (NASDAQ: GOOGL)
- Nvidia Corporation (NASDAQ: NVDA)
- Microsoft Corporation (NASDAQ: MSFT)
Alphabet (GOOGL Stock)
First, Alphabet Inc. (GOOGL), the parent company of Google, is one of the most well-known companies in the world of AI. Google has been at the forefront of AI research and development for many years and has made significant investments in the field. The company has a number of AI-based products and services. For example, it’s search engine. It uses AI to deliver relevant results to users, and Google Assistant, which is a virtual personal assistant powered by AI.
In January, the company announced that Google Cloud has introduced new AI technologies for retailers to improve their in-store shelf checking and enhance their e-commerce sites with more personalized and intuitive shopping experiences. This includes a new shelf-checking AI solution that uses Google’s database of facts to recognize billions of products and improve in-store stocking. Discovery AI solutions have been updated with personalization and browsing AI capabilities to enhance digital storefronts. Lastly, the Recommendations AI solution has launched new machine-learning capabilities to optimize product ordering and personalized recommendations.
Since the start of 2023, shares of GOOGL stock have jumped by 6.20%. Though, during Wednesday afternoon’s trading session, GOOGL stock is trading lower on the day by 3.13% at $94.64 a share.
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Nvidia Corporation (NVDA Stock)
Next, Nvidia Corporation (NVDA) is a technology company that specializes in the design and manufacture of graphics processing units (GPUs) for the gaming and professional markets. Nvidia’s GPUs have become increasingly popular for use in AI applications. This is because they have the capability to run machine learning workloads.
Back in November of 2022, NVIDIA and Lockheed Martin (NYSE: LMT) announced a collaboration to build an AI-driven Earth Observations Digital Twin to monitor global environmental conditions for the National Oceanic and Atmospheric Administration (NOAA). The project will integrate and demonstrate one data pipeline by September 2023. What’s more, it will use Lockheed Martin’s OpenRosetta3D platform with AI and Machine Learning to format data. Also, NVIDIA Omniverse Nucleus to convert it into the Universal Scene Description Framework. Lastly, Agatha, a Lockheed Martin visualization platform for an Earth-centric 3D environment.
Shares of NVDA stock have been on a tear so far in 2023. In detail, the company’s stock has rebounded by 32.35%. Meanwhile, during Wednesday’s early afternoon trading session, NVDA stock is trading slightly down on the day by 1.66% at $189.46 per share.
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Microsoft Corporation (MSFT Stock)
Last but not least, Microsoft Corporation (MSFT) is a technology company that provides a wide range of products and services, including AI services. The company’s Azure Cognitive Services is a collection of pre-built APIs that allow developers to add AI capabilities to their applications. This includes areas such as natural language processing, computer vision, and speech recognition.
This week, Microsoft reported a positive second quarter for 2023. In detail, the company posted earnings per share of $2.32 and revenue of $52.7 billion. The earnings exceeded expectations of $2.27 per share and revenue was 2% higher than in the same period the previous year. During the conference call, the company also projected that revenue for the next quarter will be between $50.50 billion and $51.50 billion.
On Wednesday, shares of MSFT stock are trading lower on the day so far by 0.86%, at $239.95 a share.
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