New-age technologies such as artificial intelligence, machine learning, and robotics have become an integral part of everyday human life. These technologies are significantly contributing to business transformation, enabling organizations to gain a competitive advantage over their peers. Thanks to its broader features and considerable benefits, more and more companies are investing in artificial intelligence to strengthen and meet their business objectives.
Thus, as investing in technology or buying tech stocks have become a business phenomenon today, here are the 10 best artificial intelligence stocks to buy that can generate higher ROI.
Tech giant Microsoft is continuously pivoting its way to innovation. Last year, the company invested US$1 billion in OpenAI, an AI lab, to build artificial general intelligence (AGI). According to reports, Microsoft stocks have grown 55 percent in value since last year, and its revenue has soared by 60 percent in the first fiscal year. The company today offers Azure infrastructure services, Office 365 productivity software and Dynamics enterprise software.
NVIDIA is a leading graphics chip company that has capitalized on the AI boom with its graphics cards becoming the de facto standard in data centers around the world. The company powers the future of autonomous cars and cloud gaming. Its recent innovations have fuelled earnings and the development of new chips set the path for future growth. Shares of Nvidia have around tripled from the March coronavirus lows.
IBM is one of the companies that use artificial intelligence to benefit their existing operations. As the tech giant is an integrated provider of hardware, software, and services to large enterprises, its AI strategy is to employ the technology to augment human intelligence, bolster efficiency and reduce costs. IBM’s artificial intelligence technology is being used in distinct industries to create effective solutions and help clients.
Micron Technology, a computer memory and computer data storage producer, has seen a substantial rise in its shares in recent years. In September, the company beat Wall Street’s targets for its fiscal fourth quarter, but its outlook was light. In November, Micron began volume shipments of the world’s first 176-layer 3D Nand flash memory chips. Furthermore, as the demand for memory chips will continue to grow, it will especially rise in the AI industry.
Amazon is the world’s leading e-commerce giant that offers broader e-commerce and cloud computing services to newer markets. The company is progressively leveraging AI technology, deploying robots and automated machines in its fulfillment centers. Amazon’s cloud computing platform Amazon Web Services (AWS) provides machine learning services along with cloud infrastructure and its AI can be easily implemented into various applications.
Netflix leverages artificial intelligence to personalize its internet TV content for subscribers. The internet television network is holding a leading position in the streaming video market, making it the investors spot. As the Netflix market value is US$194 billion, it ended the third quarter of 2020 with 195.15 million subscribers, up 2.2 million from the second quarter.
Google’s Alphabet has made tremendous leaps and bounds in the world of AI, making the most AI purchases out of any tech firm. Google uses artificial intelligence to automate its software business through search results, speech recognition, self-driving technology, ad pricing, personal assistant software, and more. In 2019, the company announced that it had achieved quantum supremacy with its Sycamore processor.
Provider of CRM services and a suite of enterprise applications, Salesforce helps companies improve their SaaS offering. In 2019, the company acquired Bonobo AI, a firm using automated analysis of customer phone calls, texts, and chats to deliver actionable insights. Recently at the investor day, Salesforce announced to double its revenue to US$50 billion by 2026, including a US$4 billion contribution from Slack.
Social networking giant Facebook has seen revenue growth by 22 percent year over year in its third quarter, which ended September 30. The company’s stock has surged 43 percent year to date. Facebook is increasingly capitalizing on AI as it integrates this technology on their advertisement platform and also using Deepfake detection and object identification in the videos.
Graphcore, a semiconductor company that develops accelerators for artificial intelligence and machine learning, recently raised US$150 million at a US$1.95 billion valuation. The company’s new processor, the Intelligence Processing Unit (IPU), is specifically designed for AI, allowing developers to run current machine learning models faster. Recently, Graphcore claimed it had shipped tens of thousands of its AI chips to companies worldwide.
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