2 AI Stocks To Consider In 2023

AI stocks to watch in the stock market today.

2 AI Stocks To Consider In 2023

Artificial intelligence, or AI, is a rapidly evolving field that is transforming how we live, work, and play. Simply put, it’s a technological area that enables machines to mimic human intelligence—making decisions, recognizing patterns, understanding languages, and more. This powerful technology is already changing the face of several industries. This includes industries from healthcare and finance to entertainment and transportation, and its potential for future impact is vast. Hence, from an investment perspective, AI presents a broad array of opportunities.

AI stocks represent companies that either develop AI technologies or utilize them to enhance their products, services, or operations. These range from big tech companies to smaller firms that are pioneering novel applications of the technology. Investing in these companies allows individuals to capitalize on the growth and evolution of AI. Potentially reaping substantial returns as the technology advances and becomes more pervasive.

However, like any investment, AI stocks come with their own set of risks and considerations. The technology is still in its growth phase, and the landscape is highly competitive. The success of AI projects can be hard to predict, and companies in this space are often subject to regulatory scrutiny due to concerns over data privacy and ethical implications. Therefore, while the sector holds enormous potential, investors need to thoroughly understand the company and technology they’re investing in, and be prepared for possible volatility. Given this, let’s look at two AI stocks to watch in the stock market right now.

AI Stocks To Watch Today

Nvidia (NVDA)

First up, Nvidia (NVDA) is a prominent player in the AI sector, well-known for its graphics processing units (GPUs). These GPUs are highly effective at handling the computations required for AI applications, especially those related to deep learning and machine learning. The company continues to innovate, developing specific hardware tailored to AI workloads.

Late last month, NVIDIA and SoftBank Corp announced a joint venture to create a platform for generative AI and future 5G/6G applications. The platform will leverage NVIDIA’s GH200 Grace Hopper Superchip and will be rolled out across new, AI-focused data centers in Japan, constructed by SoftBank. This innovative platform is aimed at facilitating the rapid deployment of AI applications and services worldwide. By utilizing the new NVIDIA MGX reference architecture with Arm Neoverse-based GH200 Superchips, they aim to enhance performance, scalability, and resource efficiency, all while reducing costs and increasing energy efficiency.

Since the start of 2023, shares of NVDA stock have advanced by 175.81% year-to-date. Meanwhile, looking at Tuesday’s pre-market trading session, NVDA stock is trading higher by 1.82% at $402.00 a share.

Alphabet (GOOGL)

As the parent company of Google, Alphabet (GOOGL) is deeply involved in AI research and applications. Google’s search engine, voice assistant, and self-driving car project, Waymo, are all powered by AI. The company’s cloud computing service, Google Cloud, also offers AI and machine learning tools for businesses.

Alphabet Inc., in their financial announcement for the first quarter of 2023, revealed results that exceeded what the market had forecasted. The tech giant reported an earnings per share (EPS) figure of $1.17 and revenue of $69.8 billion. These figures surpassed analysts’ consensus estimates for the quarter, which had projected an EPS of $1.06 and total revenues nearing $68.9 billion.

Year-to-date shares of Alphabet stock have increased by 38.73% so far. While, during Tuesday’s premarket trading session, GOOGL stock is trading slightly higher by 0.78% at $124.60 per share.

Article From: StockMarket.com by Brett David

Author:Com21.com,This article is an original creation by Com21.com. If you wish to repost or share, please include an attribution to the source and provide a link to the original article.Post Link:https://www.com21.com/2-ai-stocks-to-consider-in-2023.html

Like (0)
Previous June 12, 2023 7:30 pm
Next June 14, 2023 5:25 pm

Related Posts

  • What is a SPAC and How Does it Work?

    A SPAC, or special purpose acquisition company, is a type of publicly traded investment vehicle that is created for the sole purpose of acquiring or merging with a private company and taking it public. SPACs are also known as “blank-check companies” because they raise money from investors through an initial public offering (IPO) without specifying which company they plan to acquire. Once a SPAC has raised enough money through its IPO, it has a certain period of time (usually two years) to identify and complete an acquisition or merger with…

    March 3, 2023
  • Introduction to Options Trading: 10 Key Strategies for Managing Risk and Generating Returns

    Options trading is a type of financial derivative that gives the holder the right, but not the obligation, to buy or sell an underlying asset at a specified price (strike price) within a specified time period (expiration date). Options are typically used to hedge risk, generate income, or speculate on market movements. Here are 10 useful option strategies: Buying call options: This strategy involves purchasing call options to benefit from a potential increase in the price of the underlying asset. Selling call options: This strategy involves selling call options to…

    February 3, 2023
  • Shifting Tides on Wall Street: Why the Retreat of Market Skeptics Should Be Your Signal to Worry

    There’s a curious trend afoot on Wall Street, one that may be a harbinger of things to come. After months of surprisingly resilient market performance, a capitulation among the bearish big-name investors has begun to emerge. This change in tune comes just as the market has started to falter. The timing and nature of these developments should warrant concern for those paying attention to the financial markets. The Changing Tide: Bears Retreating The June and July short-covering among Goldman Sachs’ hedge fund clients has been the most significant over a…

    August 10, 2023
  • Navigating Market Uncertainty: A Close Watch on Inflation Data and Earnings News

    As we kick off the week following the July 4th holiday break, the financial markets seem to be settling into an uncertain rhythm. The high-profile nature of the mega-cap stocks is likely to dictate the market’s mood, following the noticeable weak finish on Friday. However, the broader market appears to be stuck in neutral as it remains on the fence. At present, the S&P 500 futures are down by three points, roughly in-line with their fair value. Meanwhile, the Nasdaq 100 futures have fallen by 27 points, trading 0.2% below…

    July 10, 2023
  • Deciphering the Dichotomy: Analyzing Equity Dividend Prospects for the Next Decade

    In the tumultuous landscape of U.S. equities, where volatility has become the norm, investors are grappling with a conundrum: are lackluster dividends on the horizon for the next decade? The journey of the S&P 500® in the 2020s has been nothing short of a rollercoaster ride, marked by sharp declines, staggering rallies, and record highs. But amidst this whirlwind, a deeper analysis of S&P 500 Annual Dividend Index futures unveils a sobering reality – expectations for nominal dividend growth over the next decade hover around near-zero levels. Figure 1: Futures…

    February 15, 2024
  • Google Updates Privacy Policy to “Scrape Everything You Post Online” for AI Development

    Google recently updated its privacy policy, granting itself the authority to scrape virtually all online posts to improve its artificial intelligence (AI) capabilities. The broad language suggests that if Google can access your words online, it’s safe to assume that they now belong to the company. As users of the internet, we should be prepared that our posts may be used as training data for a chatbot or another AI tool in the Google ecosystem. According to the revised policy, “Google uses information to improve our services and to develop…

    July 4, 2023
  • Preparing for the Storm: Navigating Impending Stock Market Volatility

    Introduction The financial landscape is constantly shifting, and the next wave of stock market volatility may be closer than we think. Recent warnings from financial experts, including Goldman Sachs, have highlighted potential catalysts that could lead to a surge in market turbulence. In this blog post, we will delve into the factors contributing to this looming volatility and discuss strategies that investors can employ to navigate these uncertain times. The Volatility Warning Goldman Sachs, a prominent player in the financial world, has raised the alarm about an impending increase in…

    September 23, 2023
  • The Coming of a Recession: How Will the Stock Market Fare?

    Navigating the Stock Market in Times of Recession: A Historical Perspective and Future Outlook Recessions are a natural part of the economic cycle, and they can have a significant impact on the stock market. In this article, we will take a look at the past three recessionary periods in the United States and examine how the stock market performed during those times. We will also discuss the potential for a recession in the coming years and the possible impact on the stock market. The last three recessionary periods in the…

    January 24, 2023
  • Margin Call: What It Is, How It Works, and How to Avoid It in Margin Trading

    Margin trading allows investors to use borrowed funds from a broker to make trades, which can amplify both potential profits and losses. However, there is a risk that losses can exceed the amount of money that the investor has in their account, leading to a margin call. In this article, we’ll take a closer look at what a margin call is, how it works, and how to avoid it. What Is a Margin Call? A margin call is a demand from a broker for an investor to deposit additional funds…

    February 11, 2023
  • How does the Nonfarm Payroll report affect the stock market?

    What does the Nonfarm Payroll report tell us? The Nonfarm Payroll report, also known as the Employment Situation report, provides detailed information on the employment situation in the United States. This includes the number of people employed (excluding farm workers and some other U.S. workers), the unemployment rate, and wage inflation—the rate of change in wages. It is published monthly by the Bureau of Labor Statistics (BLS), usually on the morning of the first Friday. The Nonfarm Payroll report is closely watched by investors, economists, and policymakers because it provides…

    June 1, 2023

Leave a Reply

Your email address will not be published. Required fields are marked *