1. Alphabet Inc. (GOOGL):
Alphabet, the parent company of Google, stands at the forefront of the blossoming AI industry. The firm’s investments in AI have fuelled advancements in every aspect of technology. With its groundbreaking advances in search optimization, advertising, autonomous driving, and cloud computing driven by Google Cloud’s AI, Alphabet shows immense potential for future AI development. The company’s consistent innovation in AI makes it a formidable player in the AI stocks to watch in 2024.
2. Microsoft Corporation (MSFT):
Microsoft’s spectrum of AI-oriented products and services endorses its mission of empowering each individual and every organization on the planet to achieve more. With the introduction of Azure AI, a collection of AI services and cognitive services, Microsoft is revolutionizing the AI sector. The company remains bullish on integrating AI into their services, making it an AI stock to keep an eye on shifting forward.
3. NVIDIA Corporation (NVDA):
NVIDIA, while initially known for its gaming graphics, has emerged as a leading player in the AI industry. Respecting the AI processors for data centres, NVIDIA’s GPUs have become the standard for machine learning applications. With the acquisition of Mellanox, a data center and cloud computing services provider, in 2020, it’s well-positioned to enjoy higher growth in AI, making its stock a desirable asset in any tech-focused portfolio.
4. International Business Machines Corporation (IBM):
IBM Watson, the AI platform for business, has positioned IBM as a significant player in the AI realm. The company’s smart enterprise efforts and quantum computing breakthroughs promise immense potential. The firm is dedicated to adopting cognitive computing solutions that leverage AI, driving significant future growth for the IBM stock.
5. Amazon.com Inc. (AMZN):
Amazon uses AI in its broad variety of business ventures – Amazon Alexa, Amazon Go, drone aircraft deliveries to personalized shopping recommendations. The company’s growth strategy revolves around investing heavily in AI for AWS, expanding its Alexa ecosystem, and launching more consumer-based AI products. Amazon’s multiple avenues of AI utilization make it a promising investment in AI stocks.
6. Baidu Inc. (BIDU):
Regarded as the Google of China, Baidu is a leader in the field of AI and machine learning. Baidu Brain, its AI platform, supports over 100 AI capabilities. The firm is also emerging as a leader in the Chinese autonomous driving industry. With diversified operations in AI, Baidu represents an interesting choice for investors in the AI space.
7. Tesla Inc. (TSLA):
Tesla’s incorporation of AI into its electric vehicles and energy storage solutions has sent waves through several industries. The company’s Autopilot semi-autonomous driving and Full Self-Driving systems are prime examples of AI implementation. Tesla’s ongoing developments and advancements in AI make it a standout player in the industry, and hence a noteworthy player in the AI stocks category.
8. Adobe Inc. (ADBE):
Adobe uses AI and machine learning across its entire product stack especially within Adobe Sensei, an AI and machine learning framework. Sensei uses AI and machine learning to handle many labor-intensive tasks, such as editing images or understanding how users interact with documents. The firm’s strategic focus on AI as a part of their growth strategy implies that Adobe’s stock has considerable potential.
9. Salesforce.com Inc. (CRM):
Salesforce has achieved considerable success through its innovative use of AI. The company’s AI-powered CRM platform, Einstein, delivers predictions and recommendations based on a company’s business processes and customer data, enabling them to make smarter decisions. The increasing popularity of Salesforce’s AI-driven solutions suggests a strong potential upward movement for its stock.
These companies have not only embraced AI but are investing heavily in this game-changing technology, making them primo candidates for investors looking to dive into AI stocks in 2024. Their relentless pursuit of innovation ensures they will continue to dominate the market and drive the future of AI. Nevertheless, each company comes with its own set of risks and it’s essential for investors to do a deep-dive analysis before investing.
