Artificial Intelligence (AI), once the subject of science fiction, is now a driving force in today’s technological world. It refers to the simulation of human intelligence processes by computer systems. This enables machines to mimic human thinking, learn from data, and make autonomous decisions. From virtual assistants like Siri and Alexa to more complex systems that detect fraud, recommend movies on streaming platforms, or optimize energy usage in smart buildings, AI’s impact is everywhere.
When it comes to the stock market, AI stocks represent companies that either develop AI technology or leverage it as a core part of their business model. As the AI sector expands, it offers a plethora of investment opportunities. Companies in this realm range from tech behemoths integrating AI into their existing products to startups focusing solely on innovative AI solutions. Investors are keenly watching this space, as it potentially promises substantial growth and transformative potential in various industries. Considering this, let’s look at three AI stocks to watch in the stock market today.
Best AI Stocks To Watch In The Stock Market Today
NVIDIA (NVDA Stock)
NVIDIA Corporation (NVDA) is a global technology firm renowned for its Graphics Processing Unit (GPU) innovations. Which cater primarily to gamers, designers, and data centers. With advancements in AI and deep learning, NVIDIA’s platforms have found applications in various sectors, propelling them to the forefront of the AI hardware market.
Earlier this month, Nvidia announced that they would be hosting a conference call this week Wednesday, August 23, at 2 p.m. PT (5 p.m. ET) to discuss their financial results for the second quarter of the fiscal year 2024, a quarter that concluded on July 30, 2023. Additionally, Nvidia’s CFO will provide written commentary before the call takes place.
In the last six months of trading, NVIDIA stock has advanced by 119.47%. Meanwhile, during Monday’s late morning trading session, shares of NVDA stock are trading higher by 4.70% at $453.32 a share.
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Palantir Technologies (PLTR Stock)
Second, Palantir Technologies Inc. (PLTR) specializes in the realm of big data analytics. The company offers platforms that assist government agencies and private institutions in their data-driven decision-making processes, streamlining operations and providing insightful intelligence.
In August, Palantir Technologies announced its second quarter of 2023 earnings results. They reported earnings of $0.05 per share on revenues totaling $533.32 million for Q2 2023. These figures are closely aligned with Wall Street’s projected earnings of $0.05 per share and anticipated revenues of $530.63 million. Notably, there was a 12.75% rise in revenue compared to the same timeframe in the prior year. Palantir also projected its Q3 2023 revenue to range between $533.0 million and $557.0 million.
Looking at the last six months of trading, shares of PLTR stock have risen by 70.84%. Moreover, during Monday’s late morning trading session, Palantir stock is trading modestly higher by 0.42% at $14.47 per share.
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C3.ai (AI Stock)
Last but not least, C3.ai Inc. (AI) stands as a beacon in the enterprise AI software space. Their solutions aim at digitizing and optimizing business operations, significantly enhancing productivity and efficiency for a diverse range of clients across multiple industries.
Earlier this month, C3.ai announced its plan to release its financial results for the first quarter of the fiscal year 2024. The Enterprise AI application software company stated that they would disclose the financial details for the quarter ending July 31, 2023, after the U.S. markets close on Wednesday, September 6, 2023.
In the last six months of trading, AI stock is trading higher by 44.85% so far. Meanwhile, during Monday’s trading session ahead of lunchtime, shares of C3.ai stock are trading up 2.55% on the day so far at $31.33 per share.
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