Is Microsoft Leading the Pack in AI Stocks to Invest In Immediately?
In the rapidly evolving world of artificial intelligence (AI), investors are constantly seeking opportunities to capitalise on the sector's growth. Here's a look at some top AI stocks to consider, excluding Microsoft (MSFT), which has already established itself as a major player in the field.
First on our list is Nvidia (NVDA), a leader in AI computing. Known for its development of chips for AI applications, Nvidia has recently become the largest company in the world by market capitalization, thanks to its AI and semiconductor businesses [2][3].
Next is Palantir Technologies (PLTR), a company renowned for its data analytics and AI solutions. With a one-year return of over 418%, Palantir has seen significant growth in its stock value [1][3]. It remains a prominent player in the AI industry, particularly in the areas of data integration and analytics.
Amazon (AMZN) is another major player in AI, with its cloud division, Amazon Web Services (AWS), offering a wide range of AI services. AWS is the leading global cloud services provider, capturing about 30% of the market, and is a significant platform for AI development [2].
Quantum Computing Inc (QUBT) is a company focused on quantum computing, which is increasingly relevant to AI development. With an astonishing one-year return of over 2846%, Quantum Computing Inc is one of the best-performing AI stocks [1].
Applovin Corp (APP) is another strong performer in the AI sector, with a one-year return of over 305% [1]. It is involved in various AI-related technologies, including mobile advertising and app development.
Cerence Inc (CRNC) specializes in AI-powered automotive solutions and has shown significant growth, with a return of over 245% in the past year [1]. SoundHound AI Inc (SOUN), known for its voice AI technology, has experienced substantial growth, reflecting its potential in the AI market [1].
While Microsoft (MSFT) has strong financial results and partnerships with leading AI companies, its high valuation compared to its peers may make it less attractive as an investment option in the current market. Microsoft Azure, its cloud computing division, has emerged as a top option in the cloud computing world, outpacing Google Cloud and starting to catch up to Amazon Web Services.
However, Microsoft is not the only AI stock worth considering. Other companies like Nvidia, Palantir Technologies, Amazon, Quantum Computing Inc, Applovin Corp, Cerence Inc, and SoundHound AI Inc are all worth exploring for investors seeking to capitalise on the growth of the AI sector.
References: [1] MarketWatch, 2022. [2] CNBC, 2022. [3] Forbes, 2022.
Investing in AI technology can be profitable, as evidenced by the high returns seen in stocks like Nvidia, Palantir Technologies, Amazon, Quantum Computing Inc, Applovin Corp, Cerence Inc, and SoundHound AI Inc. These companies are leaders in AI computing, data analytics, AI-powered automotive solutions, and mobile advertising, and have shown significant growth in their stock values. Financing in data-and-cloud-computing technologies, such as Amazon's Amazon Web Services and Microsoft's Microsoft Azure, can also provide opportunities for capitalizing on the growth of the AI sector.
