The artificial intelligence (AI) sector is rapidly transforming how businesses operate and interact with customers. AI encompasses a range of technologies, from machine learning to natural language processing. These innovations are being integrated into various industries, making AI stocks increasingly attractive to investors.
Investing in AI stocks offers potential for significant growth, given the technology’s expanding role in the global economy. However, it’s important to understand the risks involved. AI is a complex and evolving field, making it vital for investors to stay informed about industry trends and company-specific developments.
For those looking to invest in AI, diversification is key. Consider a mix of established tech giants and emerging companies focused on AI innovation. This approach can balance potential risks and rewards, positioning investors to capitalize on the AI sector’s growth potential. With that being said, here are two blue-chip AI stocks to watch in the stock market now.
AI Stocks To Watch In The Stock Market Today
- NVIDIA Corporation (NASDAQ: NVDA)
- Microsoft Corporation (NASDAQ: MSFT)
NVIDIA Corporation (NVDA Stock)
To start, NVIDIA Corporation (NVDA) is a technology company known for its groundbreaking graphics processing units (GPUs) for the gaming and professional markets. It’s also a major player in mobile computing and automotive market segments. NVIDIA’s expansion into artificial intelligence and deep learning has further solidified its position as a leader in advanced technology solutions.
Earlier this week, NVIDIA announced better-than-expected third-quarter 2024 financial results. In the quarter the company reported an earnings per share of $4.02 on revenue of $18.12 billion for the quarter. This is compared to Wall Street’s estimates which were an EPS of $3.18 per share, and revenue estimates of $16.12 billion. Additionally, revenue increased by a whopping 205.51% compared to the same period, the previous year.
Looking at the last month of trading action, shares of NVDA stock have increased by 10.28%. While during Friday’s morning trading session, NVDA stock opened red on the day so far by 1.30% at $480.82 a share.
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Microsoft (MSFT Stock)
Second, Microsoft Corporation (MSFT) is a global leader in software, services, devices, and solutions that help people and businesses realize their full potential. Known for its Windows operating systems and Office productivity suite, Microsoft has expanded significantly into cloud computing with its Azure platform, gaming with the Xbox brand, and personal computing with Surface devices, alongside a strong focus on AI and machine learning technologies.
Just last month, Microsoft announced a beat for its first quarter 2024 financial results. In detail, the tech giant reported Q1 2024 earnings of $2.99 per share, with revenue of $56.52 billion. For context, this is versus analysts’ estimates for the quarter which were an EPS of $2.65 and revenue estimates of $54.49 billion. Moreover, revenue advanced by 12.76% versus the same period, the prior year.
In the past month of trading, shares of MSFT stock have advanced by 13.77%. Meanwhile, during Friday’s mid-morning trading session, Microsoft’s stock is trading modestly lower on the day so far by 0.46% at $376.10 a share.
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