Best AI Stocks To Invest In 2023 - Compare Top AI Stocks In The Market Today

Artificial Intelligence is one of the technologies expected to drive societal change for many years. It is already changing how people work, and business is conducted. 

In this post, we will introduce you to the hot and trending AI stocks in 2023. These companies are already working on revolutionary AI and ML technologies that are bound to change how we work and conduct business. Their stocks have performed exemplarily well in the past, and the looming AI promises could fuel their future uptrend.

With that in mind, in this AI investing guide, we’ve looked at the best AI stocks to invest in 2023 and explain how AI is being used within the business sector.

 

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In the sections below, we discuss these stocks in detail. We tell you what makes them the next AI stock to explode and why you should consider investing in either. We will also tell you the importance of investing in AI stocks, how to find the trending AI stocks to buy, where to buy, and present you with a step-by-step guide to investing in stocks.

A Closer Look At The Top AI Stocks To Buy

When vetting the market in search of the best AI stocks to buy right now, we considered a myriad of factors. First, we looked at the number, impact, and development stage of the AI technologies being championed by the company. We looked at the company’s financial health, we looked at the industry as well as the overall stock market. Lastly, we looked at the stock’s past and expected price action.

Here is an overview of the best AI stocks to watch in 2023:

Tesla (TSLA) – Overall Best AI Stock to Buy Right Now

Tesla is not just a car company but a fully-fledged tech company leading the way in artificial intelligence. 

Tesla has gained global popularity as the pioneer designer and manufacturer of electric vehicles. It even became the first automobile manufacturer to have its valuation tear above $1 Trillion. And in 2022, it became the first to make and ship 1 Million EVs.

This, and the fact that it is a profitable brand, has helped keep TSLA stock on an uptrend. The Elon Musk-led company, however, makes it to our list of the best AI stocks to buy right now not because of its EV prowess but because of the artificial intelligence and machine learning developments it has been championing. 

Tesla has been championing the safe adoption of AI and is involved with multiple AI and ML products – all of which are in different developmental stages. The most obvious has to be the AI-powered Full Self-Driving (FSD) software powering the EV’s autopilot service. Second is the much anticipated Tesla Humanoid bot – a bi-pedal robot designed to perform unsafe, repetitive, or boring tasks.

Equally impactful is the Tesla Dojo System. This refers to a custom Dojo Supercomputer platform by Tesla for AI and Machine Learning. It is designed to boost Tesla’s ability to train neural networks using unlimited video data sourced from the countless cameras collected by its vehicles.

All these technologies are expected to play a critical role in improving the effectiveness of vehicle production and Tesla EVs self-driving capabilities. And these are expected to play a critical role in pushing up TSLA stock prices.

This, coupled with the fact that more consumers are turning to electric cars and choosing Tesla, makes TSLA one of the best AI stocks to invest in. 

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Nvidia (NVDA) – Best Chip Maker for AI and Machine Learning

NVIDIA makes it to the list of best AI stocks to invest in because it is in an industry that anchors the whole AI game – semiconductors. 

For years, NVidia has been at the forefront of championing the development and adoption of AI and machine technologies. Some of its most recognizable feats so far include the fact that Open AI used NVidia’s supercomputer during the creation of its ultra-popular ChatGPT project. Plus, it has continually relied on NVidia GPUs during the training of this AI tool because of their high performance and CUDA support.

The company has also already launched multiple AI solutions that analysts believe will revolutionize the technology scene. These include Generative AI, AI Training, Data analytics, Inference performance, Speech AI, and Cybersecurity. These, especially its AI-powered cloud computing platform – NVIDIA GDX – have already been adopted by leading tech brands in the industry, including Adobe.

NVidia has even partnered with Microsoft in a move aimed at accelerating the cost-effective design, building, and deployment of AI-powered business solutions to the world. The deal saw the full stack NVidia AI platform, thousands of GPUs, and the Quantum-2 Infiband integrated into the Microsoft Azure platform.

NVidia’s strategic position in the world of AI has many analysts saying that if we are in the smartphone age for the tech industry, Nvidia is Apple. Both the company’s revenues and its stock price are, therefore, primed for explosive growth. This is what informed our decision to include NVDA in our list of hot and trending stocks to buy right now.  

With the continued development of computational models, it's clear why NVIDIA’s products are becoming increasingly popular in the market. With their commitment to developing reliable and robust machines adopting AI, it is not hard to see why NVIDIA is one of the best AI stocks to invest in today. 

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IBM (IBM) – Tech Giant with a Long History of Working with AI

The IBM stock also features in our list of best AI stocks to buy in 2023. And it makes it here because it has been spearheading the technological revolution for decades. It was among the earliest adopters of AI – first applied in a chess game more than two decades ago. More recently, IBM has invested heavily in research, design, and development of AI and machine learning solutions – even holding one of the largest numbers of AI patents.

Some of IBM’s AI solutions include IBM Watson’s Discovery, Knowledge, Orchestrate, Studio, Turbonomic, and Instana Observability. Not forgetting that it offers a GPU cloud server and AI consulting services. These technologies have already been integrated into the customer service, IT, healthcare, and Cybersecurity industries by a growing number of institutions – globally.

The adoption of more IBM AI solutions by more companies around the world is expected to contribute positively to the expansion of the company’s purse. This and the rise in demand for IBM products or services translates to a boost in investor confidence, which leads to higher IBM stock prices. This explains its feature on the next AI stock explode lists.

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Palantir (PLTR) – Leading AI Services Provider for Government and Commercial Sector

Palantir makes it to the list of the best AI stocks today because it provides the software infrastructure needed for AI to flourish. 

Palantir has revolutionized how businesses access and use big data, allowing for advanced analytics and insights that could previously only be dreamed of. With its powerful AI-driven capabilities, organizations can wade through the noise of vast amounts of data and focus on the most valuable aspects. 

This invaluable asset helps companies leverage information to reach their goals and quickly make critical business decisions. Already employed by many Fortune 500 companies, Palantir's software signifies a new age in effectively harnessing large datasets.

In 2023, Palantir Technologies is experiencing a massive revenue surge due to AI's increasing popularity among corporations. This is no surprise considering that Palantir focuses on bringing advanced analytics to ‘the powers that be' worldwide. 

By providing software tools and apps that leverage data and analytics, organizations can make more informed decisions, resulting in tremendous success. 

Palantir is a relatively new tech company that only went public in 2020. It designs and develops artificial intelligence and machine learning models, which are then deployed on trusted data and information. At first, Palantir served the federal government with its AI/ML models used by intelligence, defense, and cybersecurity agencies. Over time, however, Palantir has extended its service to State governments as well as critical organizations in the healthcare, IT, Cybersecurity, energy, technology, Finance, and insurance industries.

Palantir stock makes it to our list of the hot and trending stocks to buy right now because of the significant strides it has made in the AI field. It was even ranked the number one software platform by IDC in 2021 and 2022. It also makes it here because even though it is yet to turn profitable, its revenues are on a sustained uptrend.

Most recently, the Palantir stock received a “Buy” consensus rating from Wall Street analysts and the Bank of America. This is in recognition of the fact that it is grossly undervalued, especially due to the extended bear market and depressing performance reported by tech stocks. It is worth buying today because you can expect it to start rallying as soon as the market starts recovering.

As AI continues to gain traction as an integral technology in all aspects of business and everyday life, demand for Palantir products will continue to soar. This makes it one of the best AI stocks to invest in today as well as the next stock to explode in anticipation of more gains going into the future. 

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Micron Technology (MU) – Popular Data Storage and Analytics Company with Most Upside

Micron is a US-based technology company specializing in the design and manufacture of computer memory and data storage devices. These include flash disks, memory cards, computer hard drives, and more. It, too, has set up its business operations in readiness for the AI future. And this explains why we featured it in our list of the hot and trending stocks to buy right now.

Micron is taking advantage of the brewing AI explosion in two key ways. First, Micron is using AI to advance its manufacturing capabilities and efficiencies, as well as scaling new technologies and products. Secondly, Micron is set to take advantage of the expected rise in demand for data storage services and memory products thanks to the complexity of AI algorithms that leads to the synthesis of more data.

Note that Micron is a financially sound company whose revenues and net income have been on a sustained uptrend year on year. The MU stock was also on an uptrend, only to be disrupted by the stock market crash and bear market for the technology industry in 2022. The rise in demand for memory products in the age of AI as well as production efficiencies, are expected to trigger a rebound for MU stock prices, which makes MU one of the next AI stocks to explode in 2023.

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Microsoft Corporation (MSFT) – Valuable Company Investing in OpenAI’s ChatGPT

Microsoft is the second most valuable company in the world – valued slightly above $2 Trillion. MSFT is also one of the most lucrative stocks to buy and hold, noting that by the time it peaked in October 2021, it was trading more than 340000% above its IPO price. Further, Microsoft is one of the most resilient stocks, having sustained an overall uptrending price action since launch – which makes it a valuable addition to any stock portfolio. 

After dominating the software industry for close to four decades, Microsoft is on a mission to outdo the competition when it comes to the design, development, and adoption of AI and ML technologies. Its involvement with OpenAI – especially its $10 Billion investment into the design and development of ChatGPT3 has especially placed it at the center of the AI debate. This effectively makes it a top hot and trending stock to buy in 2023.

Its innovativeness and strategic partnerships with other AI-focused brands, on the other hand, are paving the way for what seems to be a hugely promising future for the tech giant. Internally, Microsoft is slowly integrating AI into virtually all its tools – from an AI-powered Bing browser to an AI-Azure cloud computing platform. In addition to the OpenAI partnership, Microsoft has also collaborated with leading AI product developers like NVIDIA.

Microsoft’s fast embrace of AI and these partnerships have thrust it a few steps ahead of the competition in the AI race. This, and its unmatched financial muscle, stable leadership, and history of lucrative stock returns, have all served to boost investor confidence in the brand. These have earned a ‘Strong Buy’ consensus rating and a position on several ‘next AI stock to explode in 2023’ lists.

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Amazon (AMZN) – Undervalued eCommerce and AI Giant

Amazon has one of the most diverse use cases for artificial intelligence compared to the other AI stocks. 

Amazon is a tech giant and the largest ecommerce platform in the US. The AMZN stock is also one of the most lucrative share investments – seeing that by the time it peaked in late 2021, it was selling more than 210000% above its May 1997 IPO price. It started out as an ecommerce platform but has, over time, ventured into multiple other sectors, including digital streaming, digital advertising, cloud services, and artificial intelligence.

Its involvement with AI, culminating in the development and deployment of multiple AI and ML solutions, has thrust it into the limelight. This explains why it features in our list of the hot and trending AI stocks to buy today.

These solutions include the Sagemaker, which lets you build, trade, and deploy ML models, Amazon Polly – the speech generation tool, Rekognition – the image recognition and video analysis tool, as well as AI-optimized Amazon Web Services (AWS) – Amazon’s flagship cloud computing platform.

Several key factors help Amazon feature on our list of the best AI stocks to buy right now. First is the fact that Amazon is a financially stable and massively resilient tech brand. Secondly, we’re in an extended bear market where the tech stocks are underperforming, and so the AMZN stock is grossly undervalued.

Further, Amazon already dominates the ecommerce and cloud computing niches and enjoys a great competitive advantage in the digital streaming and AI fields. All these have earned it a ‘Strong Buy’ consensus rating from analysts and massive investor interest. These have our analysts convinced that Amazon AI is the next stock to explode in 2023.

By having access to enormous amounts of customer data running on their own servers, Amazon can develop and improve AI-driven products and services faster and more effectively than any other provider. This fundamental dynamic will continue to define Amazon’s place in the market as one of the best AI stocks to invest in for superior returns. 

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Intel Corporation (INTC) –Valuable Tech Giant with Advanced AI Capabilities

Intel is a world-renowned technology company and one of the most reputable brands on this list. It is especially popular for the design and manufacture of Intel computer processors that power billions of personal computers around the world. Like virtually all other major tech companies, Intel is actively involved in the design and deployment of AI solutions – at both the hardware and software levels. And this forms part of the reasons why it makes it to the list of hot and trending AI stocks to buy in 2023.

The company has, for example, launched the 4th Gen Intel Xeon Scalable processors. These are specially designed to accelerate the performance of computers in readiness for AI and other emerging workloads. In addition to these processors, it has come up with an AI deployment solution that makes it possible for businesses to accelerate the creation and deployment of custom AI solutions and services. It also runs an AI marketplace where you can shop ready-made AI solutions for your business.

Several factors make INTC stock worth buying today. First is the fact that the company is relatively undervalued- thanks to the bear market and crash of tech industry stocks. Secondly, it is a financially healthy company with a rich history of distributing high dividends.

Not forgetting that the company is well on track to fixing most of the problems that contributed to depressing price action for the INTC stock. The potential stock market recovery and the upcoming AI craze are expected to trigger a price rally for Intel, helping it feature among the next AI stocks to explode in 2023.

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C3.ai Inc. (AI) – Best Small Cap AI Company to Buy Right Now

C3.ai is commonly referred to as the first pure-play AI stock in the market today. This is in reference to the fact that while the majority of the hot and trending AI stocks we have discussed in this post are simply tech companies that have invested in artificial intelligence, C3.ai has its entire business model and operations built around AI technology. The SAAS software company is dedicated to providing a platform for other companies to build and deploy AI applications.

So far, C3.ai technologies have been well received by the market, having been adopted by a growing number of big-name brands. The US Air Force, for example, is using C3.ai technologies to increase mission capability and improve readiness. ENGIE is using the c3.ai system to analyze energy consumption in Europe, WHILE Shell uses these systems to digitize and scale its predictive maintenance program for its 10000 pieces of equipment.

Several factors help C3.ai make it to our list of the hot and trending AI stocks to buy right now. First is the fact that it enjoys the first-mover advantage in the pure-play AI field. Secondly, its artificial intelligence systems continue to receive warm embrace from companies across the globe. Not forgetting that company has a relatively low market cap, and its AI stock is grossly underpriced.

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TSMC – Largest Chip Maker Producing Chips for AI applications

The world is hastily rushing into the age of AI. From self-driving electric vehicles to machine learning programs and software and AI/ML models developed on the cloud. Moving forward, there will be a need for hardware devices that power this alternative computing paradigm. And Taiwan Semiconductor Manufacturing Company Limited is at the forefront of making AI chips that will power AI devices.

TSMC is already the largest semiconductor company in the world. It is a profitable brand, and its stock is one of the most lucrative – thanks to its massive resilience and innovativeness. The company also enjoys a significant competitive advantage and is already miles ahead of the competition when it comes to the production of advanced chips. Not forgetting that it is in the middle of an aggressive expansion campaign that has seen it commit $40 Billion to set up two plants in the US.

We recognize that the raging AI debate and TSMCs role in advancing this technology makes it a hot and trending AI stock worth buying today. It, however, is the history of positive price performance, gross undervaluation due to the extended bear market, and the promise of a brighter future that makes it the best AI stock to buy right now.

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Alphabet (GOOG) – Mega Cap Tech Giant Launching On Version on ChatGPT

While ChatGPT is getting all the hype, Google has its own impressive arsenal of AI capabilities.

A Google engineer recently expressed that their LAMDA was sentient, demonstrating just how far Google's artificial intelligence abilities have come. One can only imagine what trends will appear in the future as Google integrates powerful AI into its operations.

Alphabet is one of the most valuable technology companies in the world, warranting inclusion into the FANG+ Index. It is the parent company for Google, YouTube, Fitbit and a host of other tech subsidiaries. It, too, has entered the AI race, which informed its inclusion in our list of the hot and trending stocks to buy in 2023. 

Google has been actively involved in the AI scene for years, but much of this only came to light in early 2023 with the launch of Bard. This multimodal AI chat service is intended to function like OpenAI’s ChatGPT. And just as Microsoft integrated ChatGPT into Bing, Google has announced plans to integrate the Bard AI into its search engine.

In addition to Google Bard, Alphabet has come up with several other AI and ML tools, and they are all aimed at boosting its competitiveness in the AI space. These include cloud AI, Tensor Flow, CoLaboratory, the ML Kit, and more. These promise to reinvigorate Alphabet’s already promising future.

But these aren’t the only reasons why we believe Alphabet to be one of the best AI stocks to buy in 2023. We also feature it here because it has a massively promising future, solid financials, and a history of stellar stock price action. We also feature it here because GOOGL stock is underpriced as a result of the extended bear market and an underperforming tech industry.

Now GOOG stock is one of the most undervalued stocks in the market today stock is undervalued and it's trading at a discount compared to its recent highs, Alphabet (GOOG), without a doubt, stands out as one of the best AI stocks to invest in now. 

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Oracle Corporation (ORCL) – Popular Software Maker Using AI and ML to Drive Business Automation

Oracle started in 1977 and quickly morphed into the largest database management company in the world. Today, it has undergone further growth to become the world’s only autonomous database. And marching forward, it hopes to become the most reliable AI-optimized database services provider. The company has since embraced the power of artificial intelligence and machine learning and is looking to reinvent its business model and operations around these two.

It, for instance, partnered with NVIDIA in a move that saw the semiconductor company’s chips added to Oracle's cloud to power its AI future. It has also come up with an AI-powered chatbot intended to complement its customer service department in solving business challenges. The database management company also sought to leverage the power of AI and ML in expanding into the healthcare sector. This started with the acquisition of Cerner Corp – a healthcare technology giant – in late 2021, followed by a commitment by the company to build a specialized AI practice around the healthcare industry.

But AI prowess isn’t the only reason why we feature ORCL stock among the hot and trending stocks to buy today. We also feature it here because its low growth rate over eth past few years has deflated investor confidence in the brand, leaving its stock grossly undervalued. The AI wave and Oracle’s reinvigorated business model, as well as a recovering market, are all expected to trigger a recovery for ORCL stock price, making it a top AI stock to invest in right now.

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SAP SE (SAP) – Profitable Tech Company Integrating AI into Enterprise Software

SAP SE is a tech company specializing in the design and distribution of enterprise software that manages business operations and customer relations. It makes it to our list of the hot and trending AI stocks to buy in 2023 because it, too, is using AI to streamline its business operations. It has, for starters, come with an AI Launchpad that helps businesses manage AI models across their enterprise. It also helps businesses add intelligence to virtually all aspects of their operations.

But these are far from being the only reasons why it features in our list of the next AI stocks to explode. We also list it here because even though it has a solid financial standing and a strong client base, the SAP stock is comparatively underpriced. This can be attributed to the ongoing bear market and the underperforming tech industry.

Moving forward, however, the AI boom is expected to draw more clients to SAP SE. This is also bound to help grow the software company’s revenues and profitability – all of which have a positive impact on investor confidence in the brand. This explains why it has achieved a ‘Strong Buy’ consensus rating with multiple analysts and why it features on multiple next AI stocks to explode lists of popular stock investors.

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AMD (AMD) – Popular Chip Maker with a Promising Future

AMD is a multinational technology company based in California. It specializes in the design and mass production of microprocessors, motherboard chipsets, graphics processors, and embedded processors for commercial computing devices like servers and personal computers. It is the main competitor for Intel, and its involvement in the semiconductor scene has seen thrust in the AI debate as analysts question its place in the AI space. This informed our decision to list it among the trending AI stocks to buy today.

Though it has a rich history of developing superior processors, AMD seemed left out in the AI race. It was late to make public its readiness for the future of artificial intelligence. AMD only launched its Ryzen 7000 chips in early 2023, long after its competitor and several other tech companies announced multiple AI/ML products and solutions.

The company claims the x86-based chips are unique and better than what the competition has to offer. It, for instance, is the first processor to contain an onboard dedicated AI engine. It also provides superior performance to the industry-leading Apple M2 chip.

It is hence expected to thrust AMD back to the center of the AI debate and potentially give it a competitive edge in the personal computer market. This, in turn, translates to higher revenues and profits for AMD, which boosts investor confidence in the company and triggers a price recovery for AMD stock.

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Baidu (BIDU) – Chinse Search Engine with Serious Investments in AI and Machine Learning

Baidu is the largest internet search and internet services company in China as well as one of the largest and most valuable technology companies in the world. It makes it to our list of the hot and trending stocks to buy in 2023 because it has been at the forefront of advancing AI and ML technology in the Asian continent. Over the years, Baidu has designed and perfected multiple highly competitive AI products and solutions that promise to shape the future of AI both in China and Southeast Asia.

Some of the top AI products and solutions Baidu has launched include the advanced Kunlun AI chips. It has also launched both fully autonomous and remote-driven cars as well as an AI-powered cloud computing platform that is designed to compete with the likes of Google Cloud and Amazon AWS in the international markets. Further, the Chinese tech giant has launched Ernie - an AI chatbot that works like ChatGPT3, the updated Baidu Brain 7.0, the DuerOS voice-activated assistant, and the Duxiaoxiao virtual assistant app.

In addition to the interesting advances made by Baidu thus far, several other factors make the tech giant one of the best AI stocks to invest in today. First is the fact that it, too, has been affected by the ongoing bear market and underperformance of tech industry stocks which left BIDU stocks underpriced. Analysts also consider BIDU stock price grossly undervalued relative to its expanding digital marketing and cloud service businesses.

You may even consider adding it to your watchlist for the next AI stock to explode in 2023 because a market recovery will trigger a bullish run for BIDU stock price.

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CrowdStrike (CRWD) – AI Stock Leveraging AI For Cybersecurity

CrowdStrike makes it to the list of AI stocks to invest in for its focus on cybersecurity in the age of complex and unpredictable cybersecurity threats. CrowdStrike's protective software proactively guards network endpoints like laptops, phones, and clouds from outside attacks or breaches. 

This is accomplished through sophisticated artificial intelligence (AI) processes that enable the software to detect threats as quickly and accurately as possible. 

Using an AI-driven machine learning system, CrowdStrike can process trillions of data weekly to identify malicious activity and respond accordingly. 

As a result, CrowdStrike cannot just deal with existing threats but also proactively develop ways to deal with upcoming threats. As AI becomes more powerful, there is no doubt that the power of CrowdStrike’s cybersecurity tools will get better. 

This could translate to higher revenues and higher stock prices. If you are looking for the best AI stocks to invest that go beyond the hype, CrowdStrike is a solid bet. 

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More AI Stocks To Explode In 2023

Here are more trending AI stocks to buy in 2023. These, too, have come up with important AI solutions and products that will help grow their revenues, endear them to investors, and prop up their stock price.

ROBO ETF

The ROBO Global Robotics and Automation is an ETF that invests in global companies specializing in artificial intelligence, machine learning, and robotics. It invests in companies across the world that are spearheading AI innovation, and its portfolio currently comprises 80 tech companies.

The ETF has performed exemplarily well since its launch in 2013, with its annual returns averaging 8.8%. Moving forward, the looming AI wave is expected to trigger a bull run for tech and AI stocks which will most likely fuel ROBO ETFs already uptrending price action.

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Snowflake

While the tech giants offer an element of stability, smaller-cap AI stocks such as Snowflake offer the most potential for value growth. That’s because they have a smaller market cap, which means they have a much bigger room for value appreciation. 

Besides its lower market cap than big tech, Snowflake makes its way onto the list of best AI stocks to buy thanks to its special focus on big data. Big data forms the core of artificial intelligence and allows insight into large quantities of complex information, helping plants make well-informed decisions. 

With Snowflake, businesses have access to a variety of sophisticated structures that were previously not available with traditional computing platforms. The company's ability to quickly store, access, and analyze large volumes of data gives it a competitive edge in AI. 

Snowflake is at the cutting edge of the AI revolution through tools such as Cloud Data Warehouse and Machine Learning Operations. .

Snowflake is an American-based cloud-computing company that launched in 2014. It is a data-as-a-service company that provides corporations with a platform where they can store and analyze data using cloud-based hardware and software tools. Its management team argues that Snowflake was ‘designed from the ground up to support artificial intelligence and machine learning.’

This explains why it features prominently in most AI debates and on hot and trending AI stocks to buy lists. We list it here because its client base and sales revenues have been on a consistent uptrend. The AI wave is thus expected to fuel its overall growth, inspiring investor confidence in the snow STOCK and possibly kicking off its price rally.

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Salesforce, Inc.

Salesforce is one of the largest technology companies in the world and will become the largest enterprise software company in the world in 2022. Launched in 1999, the cloud-based software company provides its clients with Customer Relations Management (CRM) software and multiple applications that relate to such business operations as ecommerce, analytics and sales.

It makes it to the list of hot AI stocks to buy in 2023 because of its accelerated ingress into the AI world. While it seeks to add intelligence to virtually all aspects of its business operations, Salesforce made history in early 2023 when it introduced to the world the first generative AI for CRM – Eisnten GPT.

This and such other factors as its exemplary past price action, financial health, and underpriced stock price relative to expected future growth are all expected to trigger CRM stock’s explosion.

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Apple

Apple is the largest and most recognizable technology company in the world. It is also the most valuable company in the world and the first company to have its market cap break above $2 Trillion. It is a financially sound company with some of the largest cash reserves, the highest revenues, consistent dividend payouts, and the most lucrative stock. All these make it one of the most sought-after stocks, while its promising future makes it a top AI stock to invest in today.

It makes it to our list of the hot and trending AI stocks to buy in 2023 primarily because analysts have observed its silence in the AI race. In January 2023, the company announced an AI-powered narration service that would help authors turn books into audiobooks.

Its silence on any major developments in this field has only raised a heated debate about what it could be working on behind the scenes. These developments will possibly be made public during its upcoming worldwide developer conference in June. This makes now the best time to buy APPL shares before they explode.

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iRBO ETF

The iShares Robotics and Artificial Intelligence Multi-sector ETF is one of the most popular AI/ML-focused ETFs in the world. It tracks the performance of companies operating within the AI and ML scenes that are expected to benefit from the long-term growth of the artificial intelligence and robotics industries.

We list it among the hot and trending stocks to buy right now because it has performed exemplarily well in the past. Our analysts are confident that the looming AI explosion will have a significant positive impact on iROB ETFs future price action.

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AI Stock Simplified

With the explosion of ChatGPT, users, and investors now know the power of Artificial Intelligence. That’s why AI stocks are among the hottest stock investments in 2023.

The best AI stocks have access to large swaths of data, enabling them to develop the most accurate models possible. That’s because a huge aspect of AI is leveraging the power of algorithms to make sense of big data.

How Do AI Stocks Work?

AI stocks are all about using advanced algorithms to make sense of big data. AI companies' emergence has revolutionized how we approach forecasting and modeling data. By leveraging big data, these companies have applied sophisticated machine-learning algorithms to draw quick and accurate inferences about any given event.

Now, instead of relying solely on the resourcefulness of humans, businesses can access large-scale models created by AI companies to forecast how a new product or service might fare in the market.

AI companies are becoming indispensable in our rapidly evolving world with their wide range of applications, such as predicting consumer tastes or anticipating financial crashes.

For example, Microsoft, one of the best AI stocks in the market, is currently leveraging the power of ChatGPT, a natural language processing model trained on a large amount of data and more than 170 billion parameters.

Are AI Stocks A Good Investment?

AI is one of the fastest-growing aspects of the market today, with a compound annual growth rate of 37%.

With the excitement that ChatGPT has triggered in the market, there is a good chance that AI stocks will not only do well in 2023 but are also good long-term stock investments.

For instance, most AI stocks are in the green when writing this article. Some, like Tesla, have recorded exemplary growth of 70% in under two months.

In the long term, AI companies with access to large amounts of data are better positioned to thrive and outperform their competitors. This powerful combination can help them identify trends and make informed decisions swiftly. The more information these AI companies have as resources, the better equipped they are to thrive.

Moreover, with faster processing capabilities combined with large datasets from various sources, these AI firms can build comprehensive models that give them the competitive edge needed for long-term success.

The best AI stocks have a lot of potential for growth going forward. Every indicator points to artificial intelligence taking over every aspect of daily life in one way or another, which presents a profitable future for the AI stocks discussed in this article.

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Should You Invest In The Next AI Stock To Explode

Yes, you should consider investing in stocks because they are one of the most lucrative financial instruments. They have been around for more than a century, during which time they have been relied upon by millions across the world to create wealth and climb up the social ladder.

Here are five more reasons why you should consider investing in the hot and trending stocks right now:

Grow your capital

Technology stocks have proven to be some of the most lucrative investments. They have performed exemplarily well in the past and are expected to continue rallying into the foreseeable future as the AI wave takes shape.

Earn passively

You may also want to buy AI stocks today because they make it possible for you to earn passively through dividends. This implies that in addition to watching your investment grow, you get to receive a regular income – often quarterly – in the form of quarterly dividend distribution.

Take part in the next tech revolution

You may also consider investing in AI stocks simply because they let you take part in the next AI revolution. You get to own a share of a company that’s championing a course that is close to your heart.

Hedge against inflation

Most stocks have consistently outperformed the annual inflation rate, effectively helping you hedge your capital against inflation. They even post much better returns on investment than such traditional investing options as bank savings or treasuries.

Save for retirement

Stock investing can also be a perfect retirement planning option. It not only presents you with a relatively safe investment scheme, but the government has stepped in and removed tax liability from income generated from special stock-focused retirement accounts.

Your capital is at risk. Other fees apply.

How To Find The Best AI Stocks In 2023

Virtually every technology company in the company is embracing the AI wave and launching both AI/ML products and solutions. This means that there currently are hundreds of AI stocks in the market, which makes the choice of the hot and trending AI stock to buy today overwhelming, especially for novice investors.

To help you make the right choice, though, here are a few factors you need to pay most attention to when choosing the best AI stock to invest in today:

Follow the news

By following mainstream business, economic and financial news, you get to learn of the emerging trends and others being revived in the investment industry. This can play a critical role in helping you determine which AI stocks are worth buying at the moment.

Consult experts/analysts

You may also consider consulting pro investors and expert stock analysts. The majority of these maintain free forums – mostly blogs and personal websites where they share insights about what they believe to be the next AI stocks to explode.

Follow social media trends

There are multiple legit social media forums, channels, pages, and groups dedicated to discussions surrounding stock investing. By joining these discussion groups, you get to learn where about the hot and trending AI stocks to buy right now.

Check IPOs

Instead of chasing established AI stocks, you may choose to invest in relatively new companies that are yet to start trading publicly. These present you with a chance to grow your capital several-folds within the shortest time possible.

Your capital is at risk. Other fees apply

What To Consider When Looking For The Best AI Stocks To Buy For 2023

Finding the best AI stock to best AI stock to buy right now doesn’t have to be complicated. Below, we highlight some of the factors that you need to pay the most attention to when looking for the best AI stocks to buy in 2023.

Past and expected price action

It is important that you only invest in stocks with a history of stellar price action. And this can be verified by examining their price charts and checking how they have reacted in relation to different macroeconomics. Also, check analyst opinions and company fundamentals to assess their expected future price action.

Quality and impact of AI tools

The number and quality of AI/ML tools developed by a company will have a significant impact on the value of its stock price. Only invest in companies developing impactful AI tools that are expected to inspire industry-wide transformation.

Adoption and client base

It is also important that you only invest in a technology company whose AI/ML technologies have been adopted by leading brands across the world. It should also have a solid client base that not only uptakes its AI tools and solutions but also fuels its revenue growth.

Company finances

Only invest in a financially healthy technology company. It should have enough cash reserves as well as a history of growing revenues and profitability. It should be able to withstand market shocks like an underperforming sector or market crash.

Industry/market direction

In addition to confirming a stock's expected price action, assess the most likely direction of the industry in which it operates and the largest stock market. Avoid committing your capital to a company whose industry is underperforming or when the market is doomed to crash.

Volatility and daily trade volumes

This applies to active stock traders. Before you consider day trading an AI stock, check its volatility and daily trade volumes to ensure that you only invest in a volatile brand with decent daily trade volumes.

Where To Buy The Best AI Stocks Today

There is no shortage of online stock brokerages where you can buy and sell stocks today. The majority of these are highly reputable, they are multi-regulated, maintain competitive fees, and have oversimplified the stock investing process.

For both novice and expert stock traders looking to invest in the hot and trending stocks of 2023, however, we recommend buying these shares on eToro.

Below is an overview of eToro that goes on to explain why eToro is the best place to buy hot and trending stocks in 2023.

eToro – Best For User Friendliness and Social/Copy Trading

eToro is one of the oldest and most popular online stock brokerages in the world. It is licensed by virtually all the top-tier regulatory agencies in the world – from the SEC to ASIC, FCA, and CySEC. Its popularity can be attributed to a number of factors, the key among them being its user-friendliness. This starts with a quick client onboarding process and extends to a highly intuitive user interface.

It also makes it here because of the range of supported stocks. On eToro, you get to trade more than 3000 stocks and international ADRs. You also get to trade these commission free, only paying a highly competitive spread. You also need $10 to start buying either of these shares, which can be deposited using one of the many supported payment options, including PayPal, credit cards, debit cards, bank transfers, and popular eWallets.

Other factors making eToro one of the best places to buy AI stocks include its straightforward stock buying process. You would like the fact that it appeals to both novice and expert stock investors. They both get to interact with the social and copy trading tools that make it possible for them to earn passively.

Your capital is at risk. Other fees apply

How To Buy AI Stocks Today

Want to start buying any of the hot and trending AI stocks that we have discussed hereinabove? We recommend buying stocks on eToro.

Here is a beginner’s guide to stock investing that teaches you how to buy your first AI stock on a highly reputable brokerage.

Step 1: Create a stock investor account 

Start by opening the official eToro website on your browser or downloading the eToro mobile trader app. Hit the ‘Join Now’ button and complete the user registration form that pops up here. The brokerage will ask for basic personal information and ask that you create a username and password for the account.

Your capital is at risk. Other fees apply

Step 2: Verify identity

You will also need to verify your identity by submitting a copy of government-issued identification document. This could be the national ID, passport, or driver’s license.

Step 3: Fund this account

Log in to the approved stock trader account and hit the ‘Deposit Funds’ icon on the user dashboard. A funding tab will pop up, outlining all the payment options available to you. Choose one and follow the prompts to fund this account.

Step 4: Identify the AI stock to buy

After the funds reflect in your trader account, hit the “Discover” button on your trader account and choose to trade ‘Stocks.’ From the list of supported shares, identify the AI stock you wish to invest in right now.  

Step 5: Start buying AI stocks

Hit the ‘BUY’ option against the AI stock you wish to buy right now. On the trading tab that pops up, customize this trade by indicating the number of stocks you wish to buy or the amount of cash you wish to invest in the company. Then hit the “Open Trade” button to execute this investment.

Your capital is at risk. Other fees apply

Conclusion – Best AI Stocks To Buy In 2023

AI stocks are now increasingly growing in importance as investments. That’s because they are at the center of an innovation set to completely transform life as we know it today.

There goes everything you need to know about the best AI stocks to buy right now. We started by outlining and providing you with a brief overview explaining why each of these is worth buying at the moment.

We then explained how to find these stocks and what you need to look for when vetting these shares and determining which stock to add to your portfolio. Equally important, we told you where to buy the top AI stocks today and what makes the online brokerage stand out.

Want to jump straight to investing in the next AI stock to explode? We recommend following the step-by-step guide to AI stock investing that we have outlined above.

eToro – Buy AI Stocks With 0% Commission

Your capital is at risk. Other fees apply.

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