Investors beware: there is a lot of buzz around artificial intelligence. Much like adding dot-com to their name in the 1990s, more and more companies are calling themselves AI stocks. Companies like Nvidia (NVDA), Microsoft (MSFT), Alphabet (GOOGLE), Apple (AAPL), Adobe (ADBE) and countless others across a range of sectors certainly qualify. Same human resources manager Working day (WDAY) has Deeply integrated AI and machine learning in its platform.
AI stocks: Tech giants, cloud titans and chipmakers battle for an edge
X
Simply jumping on this bandwagon, many companies are using older data analysis tools and simply labeling them as AI to improve their PR.
Identifying Which Companies Are Really AI Stocks and it may be difficult to achieve material revenue growth through artificial intelligence. For example, is it Palantir stock a buy on its prospects in terms of Artificial Intelligence? Will AI-based robotics and Mars missions catch fire? Aerovironment (AVAV).
What is artificial intelligence? Who uses AI?
AI uses computer algorithms to replicate the human ability to learn and make predictions. Remember, AI software needs computing power to find patterns and draw conclusions from large amounts of data.
AI stocks: Tech giants, cloud titans and chipmakers battle for an edge
The two types of AI tools are called “machine learning” and “deep learning networks”.
Tech titans like Nvidia, Microsoft, Apple And Alphabet certainly considered AI actions.
Amazon has also thrown its virtual hat into the ring. However, the e-commerce and cloud giant finds itself playing catch-up in generative AI.
Others artificial intelligence stocks to watch include Advanced microsystems (AMD), Accenture (ACN) And Selling power (RCMP) – Just to name a few.
Find the Best AI Stocks to Buy and Watch
As indicated, Nvidia is a company that can claim AI-led growth. Internet and technology companies buy its processors for cloud computing. Nvidia’s AI chips also help guide some self-driving cars during early testing.
Startups are racing to create AI chips for data centers, robotics, smartphones, drones and other devices. The growing AI trend has certainly swept through tech giants like Apple, Alphabet, Microsoft, and Facebook’s parent company. Metaplatforms (META). They apply AI software to speech recognition, internet search, image classification, and an ever-expanding range of applications. Amazon has already established a foothold in the AI space through cloud computing services and voice-controlled home digital assistants. Just ask Alexa.
Then there are technology companies that integrate AI tools into their own products to improve them. Video broadcaster Netflix (NFLX) and payment processor PayPal (PYPL) correspond to this invoice.
Customers of technology companies are expected to increase their spending on AI to gain productivity gains or a strategic advantage over competitors. Applications span banking and finance, healthcare, energy, retail, agriculture and other industries. Using an ETF for some exposure is always an option, and the Global X Artificial Intelligence & Technology ETF (AIQ) is one of many topics to investigate.
Bookmark this page to stay up to date with AI action and the latest trends in artificial intelligence.
digital IBD: Access subscriber-only stock lists and market analysis. More, add weekly print edition for your weekend preparation.
RELATED:
Tech Stocks and Related News
Join IBD Live and learn the best chart reading and trading techniques from the pros
MarketSmith tools can help the individual investor
Take advantage of short-term trends with SwingTrader
Receive timely buy and sell alerts with IBD Leaderboard
