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3 AI stocks that could beat Google and Microsoft

3 AI stocks that could beat Google and Microsoft



If you haven’t been out of society for much of 2023, you know artificial intelligence is the latest thing for investors. The two big companies that come to mind when investing in AI stocks are Alphabet (NASDAQ:GOOGL) and Microsoft (NASDAQ:MSFT).

The reason is advances in generative AI. Microsoft has released ChatGPT through a partnership with OpenAI. In response, Google released Bard. The two companies will be competing in this space for years to come.

But that leaves another opportunity to invest in AI stocks. And in this article, we look at three stocks that could overtake Google and Microsoft in the artificial intelligence sector.

Each of these stocks has the potential to increase market share and revenue in this area. The ultimate payoff may be years away, but the opportunity is so great that now is an ideal time for speculative investors to look for the best AI stocks to buy. It has become.

AI $27.99 PLTR Palantir $12.73 NVDA Nvidia $386.48 (AI)

Source: V

If you’re looking for AI stocks to buy, (NYSE:AI) is one of the first names to consider.

As the company name suggests, this is purely a play on artificial intelligence. The company offers a suite of turnkey enterprise AI applications.

We have a growing list of great customers in various fields. Not to mention that the company has an existing partnership with Microsoft.

This is why the company has attracted the attention of institutional investors. And that’s fueling a sharp rise in stock prices.

As of May 24, AI shares are up 148% in 2023. And about 55% of that growth was before the recent short squeeze triggered by the company unexpectedly raising its full-year guidance two weeks before reporting earnings.

In the short term, investors may need to be patient. The recent surge has pushed AI stocks far above analyst expectations. But those estimates could rise even higher after the company reports earnings on May 31. The company hasn’t turned a profit yet, so that could act as an anchor for the stock for a while.

Palantir (PLTR)

Source: Spyro the Dragon /

In early May, shares of Palantir (NYSE:PLTR) soared after the company posted two consecutive quarters of profits.

At the company’s earnings call, Chief Executive Alex Karp was bullish on full-year profitability. AI hasn’t made it into the company’s revenue yet, but Karp believes it’s only a matter of time.

According to Karp, the demand for the company’s artificial intelligence platform (AIP) is “unprecedented.” He also said company executives believe Palantir has a big edge in AI that is being overlooked.

it may be true. It’s not the first time Karp has made statements that don’t immediately reflect on the company’s financials.

The company shows its AI platform being used in real-time battlefield situations in Ukraine. And if it can match other wins on the commercial side of the business, PLTR stock may finally be ready to deliver on that promise.


Source: Shutterstock

In 2021, NVIDIA (NASDAQ:NVDA) was one of the hottest stocks due to insatiable demand for chips for PCs and gaming systems. But as the market crashes in 2022, NVDA stock has abandoned all those gains and more.

Enter AI. Artificial intelligence has given her Nvidia new life. The company already claims the most powerful graphics processing unit (GPU) needed for AI. And rumors are circulating that Nvidia is getting into generative AI and supercomputing cloud services.

And for investors who have been slow to get into NVDA stock, this may be the last and best chance to get into the stock. But that would require certainty. NVDA shares are trading near a 52-week high, trading at over 176 times earnings.

That said, the companies are becoming cash-generating machines, generating at least $3 billion in free cash flow each over the last four years. Combine this with the potential of AI and you can see why he is a name to consider when Nvidia invests in his AI stocks. Nvidia’s stock isn’t cheap, but it can still offer a ton of value.

At the date of publication, Chris Marcoci held a long position in PLTR. The opinions expressed in this article are those of the author and are subject to Publishing Guidelines.

Chris Markoch is a freelance financial copywriter who has covered the market for over 5 years. He has been contributing to his InvestorPlace since his 2019.




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