3 Best Artificial Intelligence Stocks To Buy

The artificial intelligence market is big and is only going to get bigger. The global market was valued at $62 billion in 2020. It is predicted to expand at a compound annual growth rate of 40% between 2021 and 2028. AI is now part of virtually every business on the planet: automotive, medical, retail, finance, sales/marketing, and manufacturing. Major tech companies are investing heavily in research and the further development of AI.

Look at these three stocks:

NVIDIA CORPORATION (NASDAQ: NVDA)

NVIDIA's stock price has doubled in the past year, putting its P/E at 95. That's normally a sign that it is time to sell. But NVIDIA has a lot going for it. The company's powerful graphics processing unit has made NVIDIA popular in the world of cryptocurrency. The GPU is specifically designed for mining digital tokens. Its gaming GPUs are being used to help create innovations in artificial intelligence. NVIDIA has a niche in supercomputers, where its hardware is used to accelerate research in the medical field. NVIDIA is also working to close its proposed purchase of Arm Holdings, whose chips are used extensively in smartphones and digital television monitors.

As for earnings, NVIDIA's fiscal first-quarter for 2022 ended on May 2, 2021. The company reported an 84% increase in revenue, year-over-year, to $5.6 billion.

ALPHABET (NASDAQ: GOOGL) (NASDAQ: GOOG)

Alphabet is the parent company of Google and many of Google's former subsidiaries. This company is involved in virtually every aspect of artificial intelligence. That includes machine learning, self-driving cars, drones, and robotics.

Alphabet has a market cap of $1.7 trillion. Its stock trades for several thousand dollars per share. And it continues to grow and look for massive revenue streams, such as those in AI.

SALESFORCE.COM (NYSE: CRM)

Salesforce is a customer relationship management service. In conjunction with CRM, it offers applications relating to CRM. In the ten years between 2011 and 2021, Salesforce's revenue increased from $1.66 billion to $21.25 billion. One of the keys to this growth is Einstein, the sales and productivity AI bot developed by Salesforce. As AI grows, Salesforce is already a category leader that can grow more in the area of sales productivity.