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by:
Archie Cheishvili
August 8, 2023

Investing in Top AI Stocks - A Quick Guide

Artificial Intelligence, nicknamed AI, is the next big thing to happen in the field of technology. As businesses and industries adopt AI in a big way, AI companies are becoming more profitable.

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Data shows that the current value of the global AI market is estimated at US$136 billion, and the industry is expected to grow by more than thirteen times between 2022 and 2030. The CAGR (Compounded Annual Growth Rate) of the AI market is expected to be 38.1% by 2030. Moreover, the market size of AI is also projected to increase by 120% on a YoY (Year-on-Year) basis.

If you have been looking for a high-yield investment option, investing in what Reinhardt Krause considers the best Artificial Intelligence stocks might be a sensible decision.

Read on to discover the best Artificial Intelligence stocks for trading in 2023, the top reasons to invest in AI, and how private AI companies like GenesisAI on Netcapital provide a viable alternative to conventional stock investing.

Which Are the Top Artificial Intelligence Stocks to Buy in 2023?

It is not an easy task to find companies focusing solely on Artificial Intelligence, Machine Learning, and Automation. However, some companies are in a better position to take control of the AI space when demand shoots up. The following are the five best Artificial Intelligence stocks for trading in 2023, according to Wayne Duggan: 

Google

Alphabet, Google’s parent company, uses Artificial Intelligence and Machine Learning in all aspects. AI reigns supreme in ad pricing, content promotion, spam filtration, and many more fields. Alphabet also owns Waymo, an autonomous vehicle company. Waymo created history when it launched the world’s first driverless taxi service for commercial use in 2020.

Considering the recent reduction in the market value of all major IT companies in the US, Google's shares are available at attractive valuations. As a fact, Bank of America has recently upgraded Google's stock price target to $114. 

Amazon

Amazon is another big player in the AI space. You can find AI in all aspects of Amazon’s business, including search algorithms, targeted advertisements, Web Services, Amazon Alexa, and many more. Amazon’s AWS cloud also provides many AI services, including automated code reviews, advanced text analytics, and chatbots.

Amazon’s acquisition of iRobot Corp., a home robotics firm, further increased its presence in households globally. Amazon is expected to benefit from the growth of AI technology through cloud computing, eCommerce, online advertising, and the like. Bank of America expects Amazon’s stock price to touch $137 soon.  

Nvidia

Nvidia provides the huge processing power that AI-based companies need to run their applications. Leonardo, one of the fastest supercomputers, has the Nvidia GPU (Graphic Processing Unit) in it.

META, Facebook’s parent company, plans to build the world’s biggest AI supercomputer, and Nvidia provided over six thousand A100 GPUs to them. The power of Nvidia’s A100 and H100 AI chips can be understood by the fact that the US government has asked the company not to sell these chips to Russia or China.

Nvidia is a key player in spaces like cloud computing, enterprise graphics, and high-end gaming, which is why the Bank of America expects its stock price to soar to $205 anytime soon.  

Now that you know about the best Artificial Intelligence stocks in 2022 let us learn about the process of investing in AI stocks.

How Can One Invest in AI Stocks?

The process of investing in AI stocks is the same as any other stock. You can either invest in the stocks of companies or in ETFs (Exchange Traded Funds). First things first, you need a Demat and trading account to invest in Jeremy Bowman's best Artificial Intelligence stocks. There are various stockbrokers that allow you to open Demat and trading accounts. Once your account is ready, you can add the best AI stocks or ETFs and start investing.  

Why Should You Invest in the Best Artificial Intelligence Stocks in 2022?

If you want to profit from the capital market, it is wise to go with the trend. Since Artificial Intelligence is growing at a breakneck speed and is expected to retain its momentum, this is the best time to ride the AI boat and let your portfolio grow with companies investing in AI technologies. Also, since most AI-based companies have a robust financial profile and a solid history of profitability, the investment risks are minimal. 

So, investing in what Ramish Cheema considers the best Artificial Intelligence stocks for trading in 2023 can expose your portfolio to the next growth stage, and you can increase your capital safely. 

Which Are the Best AI ETFs in 2023?

ETFs, or Exchange Traded Funds, are the best bet for people without any formal knowledge of stock price movements or market dynamics. These funds invest in the best stocks in an index and deliver returns according to the indexes they track. So, AI ETFs invest in companies with an enviable reputation in the AI space. The following are the two best AI ETFs in 2023:

SPDR S&P Kensho New Economies Composite ETF (KOMP)

This blended, multi-cap fund tracks the S&P Kensho New Economies Composite Index. KOMP holds stocks in the fields of AI, Robotics, Automation, and processing power. The majority of the stocks in this ETF are in the electronic equipment, application software, aerospace, and defense industries.

Some of the top holdings of the KOMP ETF are Teledyne Technologies Inc., Elbit Systems Ltd., Leidos Holdings Inc., etc. The KOMP fund manages assets worth $1.7 billion and was launched on 22nd October 2018. 

ROBO Global Robotics & Automation Index ETF (ROBO)

The ROBO ETF considers the ROBO Global Robotics & Automation Index as its benchmark. The index analyzes the performance of organizations in AI, Automation, and Robotics. This ETF offers the investor exposure to companies developing and applying AI and Robotic technologies.

This ETF follows a blended approach while investing vvin multiple growth and value stocks. The top ten stocks in this ETF comprise only 19.1% of its portfolio. Some high-performance stocks in the ROBO ETF are iRobot Corp., Harmonic Drive Systems Inc., Rockwell Automation Inc., etc. The fund manages assets worth $1.2 billion and was launched on 22nd October 2013.  

(Ref - https://www.investopedia.com/investing/top-etfs-capitalizing-artificial-intelligence/)

Which Are the Best B2B AI Companies?

It is a common perception (or misperception) that Artificial Intelligence is only meant for B2C companies. However, this is far from the truth. A study found that 83% of companies consider AI their top priority when designing business plans. Also, 48% of companies use AI in some way or another to utilize big data more efficiently.

Sensing the huge demand for artificial intelligence in the B2B segment, AI solution developers are creating solutions specifically for B2B customers. The following are some of the best AI companies in the B2B segment:

  • Amazon Web Services (AWS) - Amazon's Lex is the B2B version of Alexa, which is meant primarily for end users. Other B2B solutions of AWS are Polly (for turning text into speech) and Rekognition (image recognition).

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  • Google Cloud - Google Cloud has been acquiring AI startups on a massive scale. Plus, Google itself has an excellent base in AI and ML. Google Cloud is a reputed seller of ML and AI services to businesses. TensorFlow and Tensor AI chips are the names of the solutions Google Cloud provides to B2B businesses.

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  • Microsoft Azure - Microsoft offers a host of AI projects for businesses and IT firms. Microsoft sells several AI services, such as machine learning, cognitive services, and bot services, through the Azure Cloud.

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(Ref - https://www.datamation.com/featured/ai-companies/ https://bondai.co/blog/5-examples-of-b2b-brands-using-ai-to-enhance-customer-experience/)

Which Are the Most Used AI Tools?

Besides learning about the best Artificial Intelligence stocks for trading in 2023, it is also important to know the most commonly used AI tools. The following are the top three AI tools used in 2023:

  • Scikit Learn - Features like supervised learning algorithms, feature extraction, and cross-validation make this one of the most popular AI tools for developers.  

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  • TensorFlow - The open-source, Python-friendly TensorFlow is a famous deep-learning library. This AI tool facilitates numerical calculations to predict more efficiently.

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  • CNTK - CNTK is quite similar to TensorFlow, but only experts prefer using it. This Microsoft Cognitive Toolkit supports many APIs, such as Java, Python, C, and C++, and primarily focuses on deep learning neural network development.

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Is There Any Viable Alternative to Artificial Intelligence Stocks Trading?

It’s a no-brainer that stock trading is risky, where only the bravest survives and make consistent gains. If you want to avoid the volatility of the best Artificial Intelligence stocks, GenesisAI provides you with a viable alternative. 

GenesisAI is a global Artificial Intelligence API marketplace with over 2,400 registered users and 30+ AI models. The platform allows users to compare multiple APIs based on price, performance, and ease of use in under thirty (30) seconds.

Developers also visit the platform to deploy and monitor APIs with the goal of monetizing their technology. GenesisAI was founded by Harvard alumni and is advised by Harvard professors. The company is currently open for pre-IPO investments. You can invest in this future-ready company to benefit from the spurt in demand for the best Artificial Intelligence in 2023 and beyond.   

Financial Disclaimer

All information shared in this article is the author's personal opinion and must not be construed as financial advice.

Additional References

https://www.forbes.com/sites/qai/2022/10/05/how-to-invest-in-artificial-intelligence/?sh=78cb68111438

https://netcapital.com/companies/genesisai

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