Artificial Intelligence (AI) has rapidly become one of the most transformative technologies of the 21st century. It has quickly changed the way we live, work, and interact. AI has been integrated into many industries. This includes healthcare, finance, retail, and entertainment, and its impact on society and business has been substantial. With the growth of AI, it is not surprising that AI stocks have become popular among investors.
Investing in AI stocks is a way for investors to gain exposure to the growth of the AI industry. As well as tap into the significant potential of this transformative technology. AI stocks come in different forms, including technology companies that develop AI algorithms and software. Or hardware companies provide the computing power needed for AI applications.
As well as companies that use AI to improve their operations and offer new products and services. Now, whether you are a seasoned investor or a beginner, AI stocks offer an opportunity to invest in a high-growth, innovative industry. While potentially achieving attractive returns over the long term. Accordingly, here are two large-cap AI stocks to watch in the stock market today.
AI Stocks To Buy [Or Avoid] Today
- Nvidia Corporation (NASDAQ: NVDA)
- Amazon.com Inc. (NASDAQ: AMZN)
Nvidia (NVDA Stock)
Firstly, NVIDIA Corporation (NVDA) is a technology company specializing in graphics processing units (GPUs) and artificial intelligence (AI). In fact, NVIDIA has been at the forefront of the AI revolution, developing GPUs and software tools that power cutting-edge AI applications in areas such as autonomous vehicles, healthcare, and gaming.
NVDA Recent Stock News
In November 2022, NVIDIA announced a multi-year collaboration with Microsoft to build one of the largest AI supercomputers in the world using Microsoft Azure’s advanced infrastructure and NVIDIA’s GPUs, networking, and full stack of AI software.
Azure’s cloud-based AI supercomputer includes thousands of NVIDIA A100 and H100 GPUs, NVIDIA Quantum-2 400Gb/s InfiniBand networking, and the NVIDIA AI Enterprise software suite. As part of the collaboration, NVIDIA and Microsoft will work together to research and advance generative AI and optimize Microsoft’s DeepSpeed deep learning optimization software.
NVDA Stock Chart
Year-to-date, shares of Nvidia stock have surged by 35.52%. What’s more, during Tuesday’s mid-morning trading session, NVDA stock opened higher by 1.24% on the day, trading at $193.99 a share.
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Amazon.com (AMZN Stock)
Next, Amazon.com, Inc. (AMZN) is a multinational technology company with a focus on e-commerce, cloud computing, and artificial intelligence. Also, the company’s AI technologies include machine learning, computer vision, and natural language processing. Amazon’s AI-powered services such as Alexa, and Amazon Web Services (AWS).
AMZN Recent Stock News
On Tuesday, Amazon announced that in 2022, the company increased its renewable energy capacity by 8.3 gigawatts through 133 new projects in 11 countries. This brings its total portfolio to over 20 gigawatts, enough to power 5.3 million homes in the US. With these investments, Amazon set a new corporate record for the most renewable energy announced in a year and remains the largest corporate buyer of renewable energy.
Also, the purchases bring Amazon closer to its goal of powering its operations with 100% renewable energy by 2025, five years ahead of its original 2030 target. additionally, the investments in renewable energy will accelerate growth in new regions through innovative deal structures, technologies, and cloud solutions.
AMZN Stock Chart
Meanwhile, since the start of 2023, Amazon stock has jumped by 20.07% year-to-date. Evidently, during Tuesday’s mid-morning trading session, shares of AMZN stock are green by 2.50% trading at $103.07 per share.
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