3 Top Artificial Intelligence Stocks to Buy Right Now

Nvidia Corporation (NASDAQ:NVDA), Microsoft (NASDAQ:MSFT), and Alphabet (NASDAQ:GOOGL) are three top artificial intelligence stocks to buy right now.

| More on:

Artificial intelligence (AI) is one of technology’s most fascinating and quickly growing topics. From healthcare to finance, technology has the ability to alter industries. AI is the use of computer algorithms and machine learning to replicate human intelligence. This enables machines to accomplish tasks that would previously require human intervention. This technology has the ability to completely transform the world. Companies around the world are investing extensively in AI research and development to stay competitive in areas ranging from product creation to customer service.

Buying AI stocks can provide investors with an effective strategy to obtain exposure to this fast-rising industry. AI enterprises can provide prospects for capital appreciation and growth. This is due to the fact that companies that innovate and succeed in bringing new items to market can see huge increases in their stock values.

Here are three top AI stocks to buy in the stock market right now.

NVIDIA

NVIDIA (NASDAQ:NVDA) is a leading manufacturer of graphics processing units (GPUs). They are utilized in a variety of applications, such as gaming, data centres, and self-driving automobiles. In addition, the business has made significant investments in AI research and development, and its GPUs are widely utilized for deep learning and other AI applications.

NVIDIA announced in March that Google Cloud will integrate its newly released L4 Tensor Core GPU and Vertex AI to assist businesses expedite their development on generative AI applications. Google Cloud will be the first to offer the L4 Tensor Core GPU, which will also be available with optimized support for Vertex AI. The L4 GPU is intended to be a universal GPU for all workloads, with advanced AI video capabilities that can provide much better AI-powered video performance than CPUs while consuming 99% less energy.

NVDA shares have increased by 90% since the beginning of 2023.

Microsoft

Microsoft (NASDAQ:MSFT) is a technological business that manufactures a variety of products. For example, software, hardware, and cloud services. The corporation has made significant investments in artificial intelligence research and development, with a particular emphasis on creating natural language processing and computer vision technology.

Microsoft is integrating ChatGPT into its tools and products with the goal of revolutionizing human-machine interactions through the use of natural language AI.

Sandra E. Peterson, operating partner at Clayton, Dubilier & Rice, was appointed lead independent director by Microsoft last month, succeeding John W. Thompson, who had held the position since 2012. Furthermore, the board of directors of Microsoft declared a quarterly dividend of $0.68 per share, payable on June 8, 2023 to shareholders of record on May 18, 2023.

Year to date, Microsoft stock has grown by 18%.

Alphabet

Alphabet (NASDAQ:GOOGL) is the parent firm of Google, one of the world’s largest and most influential technological companies. While Google is best recognized for its search engine and advertising networks, the company has also invested heavily in AI research and development. This includes creating its own AI hardware and software platforms.

Alphabet released its most recent financial figures for the fourth quarter of 2022 in February. The company reported earnings of $1.05 per share and revenue of $76.0 billion in the report. This compares to Wall Street’s expectations for the quarter, which called for earnings of $1.14 per share and revenue of $76.6 billion.

So far in 2023, Alphabet stock has regained 18% year to date.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Fool contributor Stephanie Chateauneuf owns shares of Alphabet and Microsoft. The Motley Fool recommends Alphabet, Microsoft, and Nvidia. The Motley Fool has a disclosure policy.

More on Tech Stocks

cloud computing
Tech Stocks

3 No-Brainer Tech Stocks to Buy With $1,000 Right Now

These three Canadian tech stocks could be among the best growth opportunities in the market right now.

Read more »

happy woman throws cash
Tech Stocks

3 Growth Stocks That Could Be Long-Term Wealth Creators

These three growth stocks aim to grow their financials at a higher rate than the industry average, thus delivering superior…

Read more »

The virtual button with the letters AI in a circle hovering above a keyboard, about to be clicked by a cursor.
Tech Stocks

Is POET Technologies a Top AI Stock for Canadian Investors?

Canada has relatively few AI stocks, and the ones it has are different from American AI stocks in terms of…

Read more »

Rocket lift off through the clouds
Tech Stocks

2 Growth Stocks That Could Skyrocket in 2025 and Beyond

Wondering what types of stocks could rapidly rise in 2025? Check out these two stocks with substantial upside if they…

Read more »

up arrow on wooden blocks
Tech Stocks

The 3 Smartest Tech Stocks to Buy With $500 Right Now

Tech stocks can be seen as a bit risky, but these three have far less risk and more stability for…

Read more »

TFSA (Tax-Free Savings Account) on wooden blocks and Canadian one hundred dollar bills.
Tech Stocks

Shopify: A Must-Have Growth Stock for Your TFSA Now (and the Next 10 Years)

Shopify (TSX:SHOP) stock isn't just a top growth company, it's a titan worth owning in your decades-long TFSA fund.

Read more »

cloud computing
Tech Stocks

Best Stock to Buy Right Now: Manulife vs CIBC

Want the best stocks? These two are certainly the best options. But which is the better buy?

Read more »

profit rises over time
Tech Stocks

4 Reasons to Buy Constellation Software Stock Like There’s No Tomorrow

Constellation Software stock continued its climb upwards after recent earnings, and this only adds to its appeal.

Read more »