5 Artificial Intelligence stocks to watch in 2023
Artificial intelligence (AI) has recently become a ground-breaking phenomenon, and is expected to excel amid rapid technology acceleration, giving rise to companies striving towards achieving digital supremacy.
Here are five AI stocks which, according to Tradematics, are set to attract the spotlight:
Software giant Microsoft is no stranger to AI. In 2019, the tech leader invested US$1 billion into AI pioneer OpenAI as part of a partnership with Microsoft Azure. Home of ChatGPT, OpenAI has taken the world by storm with its high usefulness for students, programmers and researchers, as the software impressively delivers user requests from writing essays to creating websites.
As part of the agreement, Microsoft expects to receive 75% of OpenAI’s profits according to recent reports until it achieves return on investment, before securing a 49% stake in the firm.
Alphabet, besides its major platforms of Google and YouTube, is the parent company of DeepMind and Waymo, both of which have been doubling up on AI initiatives in their respective fields.
Amazon represents truly innovative AI application. In November of 2022, the e-commerce giant lifted the curtains behind the exciting Sparrow project which uses computer vision and artificial intelligence to move & box products. The success of this initiative will diminish the company’s costs, increase efficiency and boost economies of scale, setting the stage for imminent growth in its stock.
The renowned chipmaker Nvidia is behind the scenes of leading AI projects, including Meta’s largest AI supercomputer which has over 6 million Nvidia graphics processing chips. Among Nvidia’s customers are Adobe, Canon and even Cisco which all succumb to the high efficacy and performance of the firm’s semiconductors.
International Business Machines
IBM’s AI moves focus on revolutionising healthcare, finance, academics and law via its AI supercomputer Watson; a question-answer computer system. IBM sees the potential of AI and plans to invest $20 billion over the next 10 years to develop and produce semiconductor chips which’ll be used for AI & quantum computing.
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