SPECIAL REPORT The Top 7 Stocks for 2024

25 Millionaire-Maker AI Stocks to Buy Now

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  • Months after the launch of ChatGPT, the artificial intelligence boom is still going strong.
  • More and more companies are incorporating AI tools into their products and services.
  • This trend has created a significant opportunity for investors to profit as the new gold rush continues.
AI stocks to buy - 25 Millionaire-Maker AI Stocks to Buy Now

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To say that artificial intelligence is transforming the world would be a drastic understatement. The launch of ChatGPT has pushed AI into full focus, with the chatbot reaching 1 million users in less than one week. This new technology is revolutionizing entire fields, performing many human tasks from office work to construction. It is also helping companies take significant steps forward toward producing fully autonomous vehicles. Whether you’re excited by the rise of AI or nervous about what it will mean for the future of humanity, it is impossible not to pay attention to it. For investors, this means assessing the best AI stocks to buy as the market’s newest gold rush continues

InvestorPlace analyst Luke Lango sees tremendous opportunity in the new AI boom. He recently described the industry as having a moment similar to the release of the iPhone, which changed everything for Apple (NASDAQ:AAPL). In his words:

“The AI megatrend is just getting started. ChatGPT really kickstarted this AI frenzy back in November 2022. We’re basically just seven months into the AI Boom. By comparison, the Internet Boom lasted almost 10 years – from the launch of the world’s first website in 1991 to the peak of the dot-com bubble in 2000.

Compared to other big booms like gold in the 1970s, housing in the 2000s, and cryptos in the 2010s, this AI Boom is still both relatively young and small. It has a lot of runway ahead of it.”

More and more companies are embracing the new technology, implementing machine learning and generative AI in their operations and products.

This means that the best AI stocks to buy aren’t always firms that operate strictly in the space. Companies across multiple sectors can offer investors exposure to the booming market as they double down on AI investment.

What are the best buys for investors seeking to cash in? Let’s take a closer look at the best AI stocks that still have room to run.

AI Stocks to Buy: Adobe (ADBE)

Adobe logo on wall of corporate building.

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While it’s perhaps best known as the maker of Photoshop, Adobe (NASDAQ:ADBE) has a long history of innovation in the graphic design and document management space. It surged during the Covid-19 pandemic of 2020, and while ADBE stock has since come down, it is making impressive progress, up 50% in 2023. It has demonstrated strong fundamentals, reporting better-than-expected earnings for Q2 2023. As a result, Wall Street analysts are optimistic about its growth prospects heading into the second half of the year.

The AI boom should give investors and analysts even more reason to embrace ADBE stock.

As the economy transitions toward further reliance on AI, Adobe is primed to ride this wave to the top. It is incorporating generative AI into its well-known products. In May 2023, it added AI as a “Creative Co-Pilot” to Photoshop to enhance the beloved software’s features. This will likely make it an even more popular tool among graphic design professionals and other creatives who depend upon it, making ADBE a clear choice among AI stocks to buy.

Advanced Micro Devices (AMD)

Sign of AMD office in Markham, Ontario, Canada. Advanced Micro Devices, Inc. is an American multinational semiconductor company.

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Chipmaker Advanced Micro Devices (NASDAQ:AMD) has seen its share price nearly double in 2023.

The company has the problem of living in the shadow of breakout stock Nvidia (NASDAQ:NVDA), but that doesn’t mean it doesn’t have plenty to offer investors on its own. It benefits from the same trends that pushed its rival into the trillion-dollar club, specifically AI hype and surging demand for its products.

As InvestorPlace contributor Joel Baglole notes, “With demand for microchips and semiconductors expected to grow exponentially in coming years, the possibilities are endless for AMD stock.”

On top of that, the company can also boast excellent leadership. CEO Lisa Su has been named the world’s wealthiest self-made woman for 2023 by Forbes and her list of accolades doesn’t stop there.

As a leader, she is highly focused on growth and taking AMD to new heights in 2023. One firm believes that AMD could produce chips to rival Nvidia’s in the coming years. And even when Wall Street analysts rate Nvidia as the winner of the AI boom, they often acknowledge that AMD still has clear potential, for reasons including its lower graphics processing unit (GPU) price points. The stock currently boasts a strong buy consensus on TipRanks with 24 out of 31 analysts rating it as a “buy.”

Alphabet (GOOG, GOOGL)

Google launches Bard AI. Google search bar on a phone in hand with release information on background. Google Bard AI vs OpenAI ChatGPT. GOOG stock and GOOGL stock.

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All Silicon Valley giants are working overtime to help spur the AI revolution. It’s no surprise that Google’s parent company would be at the forefront.

Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) got off to a somewhat rocky start when its AI chatbot Bard displayed clear misinformation. However, the company’s significant progress on the AI front shouldn’t go unappreciated.

In the months since, Google hasn’t slowed down in its quest to dominate this market. As the MIT Technology Review reports, it’s “throwing generative AI at everything,” applying it to products both past and present. Google’s PaLM 2 language model is already part of 25 products, including Google Maps, Google Sheets and Gmail. The company plans on using this new tech to help improve the user search experience too.

No matter where the AI market goes from here, Alphabet will lead the movement. It has the size and resources to invest in research and development wherever it needs to and scale production at any time.

Amazon (AMZN)

Amazon logistics center in Szczecin, Poland.

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For all the attention it has received, the modern AI revolution did not begin with ChatGPT. It really began when Amazon (NASDAQ:AMZN) introduced the world to its Alexa device in 2014. Since then, the world has become accustomed to turning on lights, music and many other things through voice commands. Years later, Amazon has only redoubled its focus in AI, using it to optimize its products and services. The company is working to increase the speed at which it delivers packages by using AI to help it strategically place inventory.

Unlike many of its Big Tech rivals, Amazon isn’t necessarily trying to produce a chatbot of its own to rival ChatGPT. Moreover, it has decided to provide users with the tools they need to build their own. It responded to the rise of the chatbot by adding two new AI language models to its Amazon Web Services platform.

Amazon is also highly focused on robotics. It is attempting to acquire iRobot (NASDAQ:IRBT), the company behind the Roomba vacuum cleaner. More recently, it announced a partnership with AI startup Hugging Face, a software development hub that counts many tech sector giants as clients. Like Alphabet, Amazon is in an excellent position to continue growing by cornering new parts of the AI market.

AI Stocks to Buy: Autodesk (ADSK)

An Autodesk (ADSK) sign on an office in Toronto, Canada.

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Contrary to its name, Autodesk (NASDAQ:ADSK) doesn’t operate strictly in the automotive space. It is actually a dynamic software producer that supports many companies across multiple sectors, primarily serving architects and engineers. Its primary software products are Revit and Fusion 360, which are geared toward architectural design and manufacturing. These programs help make Autodesk a great bet for investors seeking AI exposure. As InvestorPlace contributor Vandita Jadeja reports:

“These two are the main products of the company and using generative AI for the same will pay off in the long-term. Through these tools, engineers can set a range of parameters and have the software run simulations. It can save a lot of time and money. Its products can build structures and 3D animations which will help meet the changing demands of the industry.”

It may not be a name that immediately comes to mind when someone thinks of AI stocks to buy. That said, Autodesk’s technology is likely to see a surge in demand as the AI revolution continues to develop.

As Jadeja also notes, it successfully meets the needs of a very large industry and one in which there isn’t much competition. Additionally, the company boasts strong financials and encouraging growth prospects. While ADSK stock has been fairly volatile over the past year, it is poised to ride the AI boom to new heights. 

Baidu (BIDU)

Home page of the popular website Chinese search engine company Baidu (BIDU) on the screen of the Chinese smartphone Xiaomi in the male hand

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A leader in China’s tech market, Baidu (NASDAQ:BIDU) has a reach that spans many sectors, including IT, electronics and electric vehicles. It stands to reason that such a dynamic tech company would be focused on incorporating AI into its operations and Baidu is doing exactly that. But this Chinese tech innovator is taking it further and attempting to develop its own answer to ChatGPT. It recently claimed that its Ernie AI model has outperformed the chatbot “in comprehensive ability scores” and outperformed “GPT-4 in several Chinese capabilities.”

Baidu’s plans for AI don’t stop at its chatbot, though. It is making significant progress delivering driverless taxis to various Chinese cities. And while some companies are acquiring AI startups, Baidu has announced plans to roll out a venture fund to invest in companies that focus on AI applications that generate content. This could give it valuable exposure to some of the market’s hottest new AI innovators before they go public, thereby sending shares soaring.

As InvestorPlace contributor Chris MacDonald noted, while U.S. investors often overlook BIDU stock, the AI boom is a great reminder why they shouldn’t.

BYD Company (BYDDY)

Close-up of BYD (BYDDY) logo on red car, symbolizing BYDDY stock

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One of the most exciting aspects of the AI revolution is the possibility that it will take us to a future with driverless cars.

Electric vehicle producers are laser-focused on reaching this goal before their competitors do. While Tesla (NASDAQ:TSLA) is getting most of the attention, investors would be better served to focus on other automakers. BYD Company (OTCMKTS:BYDDY) is quietly leading China’s EV race and it is doubling down on incorporating AI in its vehicles. It has partnered with industry-leading chipmaker Nvidia (NASDAQ:NVDA) to bring the cutting edge DRIVE Orin platform to its new energy vehicles.

More recently, the company took a major step forward when it partnered with AI and metaverse innovator MeetKai. On July 11, the latter announced the launch of BYD World, an “interactive virtual dealership experience dedicated to providing new opportunities for customers to interact with the BYD brand and its products in Americas.” This could be BYD’s ticket into the U.S. market after it has already sold more vehicles than Tesla in China. This type of innovation makes it an excellent bet among both EV and AI stocks to buy as it gears up to expand its global reach. It has been touted as having the potential to reach a trillion-dollar valuation.

CrowdStrike (CRWD)

Mobile phone with website of American software company CrowdStrike Holdings (CRWD) Inc. on screen in front of website. Focus on top-center of phone display. Unmodified photo.

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We can’t talk about markets being changed by AI without discussing cybersecurity. CrowdStrike (NASDAQ:CRWD) has been dominating that field for years, offering cybersecurity and data protection. Now AI is poised to help improve the tech solutions upon which many companies depend. Forbes reports that “76% of enterprises have prioritized AI and machine learning in their IT budgets.” Additionally, demand for cybersecurity services is growing faster than the human workforce. This means that the  firms prioritizing AI will have a clear advantage. And CrowdStrike is at the forefront of this movement. It recently introduced Charlotte AI, a generative AI analyst created to help users navigate its CrowdStrike Falcon platform.

This isn’t CrowdStrike’s first foray into AI, either. Far from it. In August 2022, the company rolled out AI-powered indicators of attack (IOAs), created by “cloud-native machine learning models.” On top of that, CRWD has continuously earned its place among both cybersecurity and AI stocks to buy.

GitLab (GTLB)

The GitLab (GTLB) logo on an iPhone screen.

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The current AI-centric economic landscape puts companies like GitLab (NASDAQ:GTLB) in a perfect position. For years, this innovative DevOps platform has helped tech developers and teams build software. It enables collaboration which has been of paramount importance in the age of remote work. Now, more and more companies are rushing to enter the AI race while entrepreneurs are scrambling to build the next great AI startup. Both these trends stand to create significant demand for a platform like GitLab. As Sirois notes:

“The reason that investors are so focused on GitLab is clear. The company has rapidly added AI features to its platform (10 recently), and posted revenue that was $9 million above analyst expectations, at $127 million. GitLab’s CEO Sid Sijbrandij was resolute in his belief that AI will help GitLab to make software for organizations faster than it could prior.”

AI Stocks to Buy: First Solar (FSLR)

First Solar logo on smartphone in front of computer screen with graphs. FSLR stock

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Despite some volatility over the past six months, First Solar (NASDAQ:FSLR) has repeatedly proven that it can’t be kept down. This clean energy leader has risen more than 35% year to date (YTD). While it may not instantly come to mind when you think of AI stocks, that doesn’t mean it should be counted out.

Like all innovative manufacturers, First Solar has found ways to incorporate AI into its production to help improve its output and efficiency. In June 2021, the company invested $680 million in expanding its manufacturing capacity by building a new facility in Ohio. It stated that the new facility would “produce a higher degree of automation, precision, and continuous improvement” by combining worker power with AI and IOT connectivity.

First Solar also offers investors AI exposure through partnerships. It has teamed up with Microsoft (NASDAQ:MSFT) to help the tech giant achieve its goal of becoming carbon neutral. Microsoft has made it clear that this will be achieved by further harnessing the growing power of AI and data science. First Solar has been making ample use of Microsoft’s technologies for some time, demonstrating the importance of AI for the manufacturing and clean energy markets.

Hyundai Motors (HYMTF)

Hyundai (HYMTF) sign for car dealership with blue sky in background, symbolizing HYMTF stock

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This South Korean automaker doesn’t get as much attention as other car names. But to overlook Hyundai (OTCMKTS:HYMTF) would be to make a critical mistake.

In June 2021, it completed the acquisition of Boston Dynamics, a company with years of progress demonstrating the power of robotic technology. One year later, it announced plans to launch the Boston Dynamics AI Institute, a project geared toward advancing AI and robotics. The company has already demonstrated progress on this front, sharing a video on its website of a robot helping potential buyers shop for cars.

Hyundai’s AI advancements don’t stop there. It is also highly focused on autonomous driving. As part of this, it announced that its IONIQ 5 robo-taxi would be hitting the streets in 2023. One of its South Korea-based affiliates has partnered with leading chipmaker Qualcomm (NASDAQ:QCOM) to further its autonomous driving tech. If this progress continues, Hyundai is likely to pose a threat to the other automakers who want to win the driverless race.

Innodata (INOD)

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You might not know the name Innodata (NASDAQ:INOD), but if you’re seeking cheap AI stocks to buy before they explode, you absolutely should.

This company has surged more than 200% over the past six months and it still trades at less than $11 per share. Innodata operates in the business process solution space, helping companies solve complex data and engineering challenges through AI. And while it isn’t a household name yet, the company’s growth speaks for itself. InvestorPlace contributor Ian Cooper notes that for all the explosive growth it has seen recently, INOD stock has plenty of room to run as the AI boom powers it higher. In his words:

“[The company] was selected by a leading cloud infrastructure and platform services company to provide large-scale data collection for a new AI computer vision initiative. Innodata also just signed a significant application re-engineering agreement to enable a customer to more fully leverage Innodata-built artificial intelligence/machine learning (AI/ML) models.”

Cooper also notes that Innodata could stand to benefit from the increasing trend of tech giants acquiring smaller AI firms. In either case, the company is a likely winner among lesser-known AI innovators.

Luminar Technologies (LAZR)

Luminar (LAZR stock) sign with greenery around it

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Automakers are focused on winning the driverless race… and Luminar (NASDAQ:LAZR) is helping several industry leaders get there.

This innovative startup produces lidar technology designed to make autonomous driving safer for everyone. It does this by helping vehicles detect their surroundings by sending out distance-measuring laser beams. And while Elon Musk has criticized this type of technology, he may live to eat his words. Other experts have praised Luminar’s innovations and speculated that its tech could help other automakers finish ahead of Tesla.

There’s good reason for this optimism. Luminar remains highly focused on growth through partnerships. In June 2023, it announced an agreement to bring its AI-based driving software to automated trucking company Plus. Before that, it collaborated with autonomous driving leader Pony.ai on a new sensing platform. Automakers clearly trust Luminar’s technology to help them make driverless cars safe.

Microsoft (MSFT)

Image of corporate building with Microsoft logo above the entrance.

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As one of the tech sector’s leading companies, it makes sense that Microsoft (NASDAQ:MSFT) would be helping lead the charge toward an AI-driven future. This Silicon Valley behemoth has plenty going for it, none the least of which is its multibillion-dollar investment in ChatGPT maker OpenAI. That alone would be enough to earn MSFT a place on a list of the top AI stocks to buy. But the company has plenty of other projects that make it worth betting on for investors seeking AI exposure. Its cloud computing platform Microsoft Azure includes many important features such as tools for users to create their own AI solutions.

Like its Big Tech peers, Microsoft has the resources to continue scaling its operations. It offers users the opportunity to do almost any business-related task that involves AI, from developing conversational AI bots to complex machine learning models. As the company continues incorporating advanced AI tools into its vast array of products, MSFT stock will only continue growing. Shares are up 50% over the past six months and they aren’t about to slow down as the AI boom picks up steam.

AI Stocks to Buy: MicroStrategy (MSTR)

A chart of the MicroStrategy logo with a Bitcoin

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When this company makes headlines, it’s often for crypto-related matters. After all, the business intelligence consultancy currently owns $4.6 billion in Bitcoin (BTC-USD) and its co-founder Michael Saylor is a leading Bitcoin evangelist.

But MicroStrategy (NASDAQ:MSTR) has been on a truly impressive winning streak recently, rising more than 200% over the past two quarters. The recent crypto rally has certainly helped, but it isn’t the only reason.

Known for producing enterprise analytics software, this company has also been busy incorporating AI-based tools into its tech. Its Data Whisperer program features a chatbot that helps users understand their data. It also uses AI models to bring new insights to customers by evaluating data to spot new trends and outlying factors. Meanwhile, the company has been exploring partnerships with industry leaders. As InvestorPlace contributor Tyrik Torres notes:

“Recently, MicroStrategy announced a multi-year partnership with Microsoft to integrate MicroStrategy’s analytics into Microsoft’s Azure OpenAI service. This makes it one of those AI stocks with triple digit returns potentially in the future.”

Mobileye Global (MBLY)

Transdev Mobileye (MBLY) autonomous driving shuttle bus showcased at the IAA Mobility 2021 motor show in Munich, Germany

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Like Luminar, Mobileye (NASDAQ:MBLY) is helping power the autonomous driving revolution.

The company produces advanced driver assistance systems (ADAS), which it claims have been deployed in more than 135 million vehicles. Pus, Mobileye produces both software and hardware systems, including chips and censors. This puts it in an excellent position to help automakers continue advancing toward a driverless future. In 2022, it began testing its tech in self-driving cars in both the U.S. and Germany in order to train its AI to handle a wider variety of road conditions.

InvestorPlace contributor Tom Taulli sees MBLY as a potential winner among AI stocks to buy. He notes that while the company’s last earnings report did not thrill Wall Street, investors should regard it as an opportunity to pick up a valuable AI stock at a better valuation before it gains momentum. Taulli also adds that Mobileye comes with key advantages, such as a “patent portfolio, proprietary algorithms and rich data repositories.” All these factors could help MBLY keep rising as demand for autonomous driving solutions continues to grow.

Nvidia (NVDA)

Nvidia corporation (NVDA) logo displayed on smartphone with stock market chart background. Nvidia is a global leader in artificial intelligence hardware and software

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Since 2022, it’s been impossible to discuss AI stocks without the conversation turning to Nvidia (NASDAQ:NVDA). To say that this chipmaker has been the breakout stock of the year would be an understatement. It reached a trillion-dollar market cap during the AI boom and it seems as though the Silicon Valley darling is there to stay. It has soared over 150% over the past six months and while this may not seem sustainable, the company is showing no signs of slowing down. Many companies depend on Nvidia’s products to continue their AI efforts. This includes ChatGPT, which is said to be powered by Nvidia chips.

It doesn’t take much to see that this puts Nvidia in a position of power as the AI revolution rages on. In fact, it may be the most likely winner of the new AI-driven economy. Between the AI and metaverse, more and more companies will come to rely on Nvidia’s products, sending demand sky high. Simply having ChatGPT as a client would make it a clear choice among AI stocks to buy.

But as InvestorPlace’s Louis Navellier notes, Nvidia’s potential far exceeds the chatbot. The economy is moving in a new direction, creating a wave that NVDA stock is perfectly tailored to ride.

Palantir Technologies (PLTR)

A close-up shot of a hand on a screen with the Palantir (PLTR) logo.

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The rise of machine learning is an excellent development for Big Data analytics. This means that firms in the space will be working overtime to implement AI into their day-to-day operations. Palantir Technologies (NYSE:PLTR) is up more than 170% year to date as the firm that helps other companies embrace Big Data.

The Financial Times recently described the rise of AI as the crisis that Palantir has been looking for. Palantir recently demonstrated its new AI platform’s military applications, and company insiders have claimed to be seeing “unprecedented demand” for it. Palantir also recently announced a partnership with autonomous drone technology producer AirMatrix, furthering its AI exposure even more.

Rockwell Automation (ROK)

Rockwell Automation sign is seen in Cambridge, On, Canada. ROK stock.

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Lango has described the AI boom as a “Mt. Everest-sized opportunity in AI robotics.” This means that established leaders in the space will have significant room to run as more companies prioritize automation. Rockwell Automation (NYSE:ROK) is exactly such a company. It focuses primarily on creating industrial automation and control systems, but its products and services are vast, spanning as far as cybersecurity and network solutions.

Rockwell hasn’t seen the type of gains that some companies on this list have this year. Investors should be careful to see the big picture, though. ROK stock has been gradually gaining momentum as the AI boom has taken off, demonstrating slow-but-steady growth. The company boasts robust financials and a truly global reach that will only expand more as demand for its products continues. As a trusted leader in the automation space, Rockwell will have a clear advantage in the coming year.

AI Stocks to Buy: SoundHound AI (SOUN)

SOUN stock: SoundHound's Headquarters exterior featuring a sign with the company's logo in the foreground and a parking lot and building in the background.

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This stock likely isn’t on the radar of too many investors. But SoundHound AI (NASDAQ:SOUN) is worthy of investor attention.

The company has already proven that its audio and speech recognition technology has major applications for industries such as food service and automotive, as well as for contact centers. Its conversational AI tools can help businesses with tasks such as answering phones and taking messages and reservations. As workers opt away from these jobs, more and more small businesses will be seeking automated solutions. If you need help answering the phone, SoundHound might have exactly what you need.

Despite still trading below $5, SOUN stock has made impressive progress this year, rising 175% YTD. Cooper has also flagged it as a likely acquisition target, and with demand growing for its tech, it’s easy to see why. Additionally, SoundHound also saw a significant boost recently after being added to the Russell 2000 and Russell 3000 indices. This will help the company gain legitimacy in the eyes of the financial community and will likely spur further investment.

Splunk (SPLK)

Splunk (SPLK) logo on the company office in Santana Row.

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For a leader in the workplace AI space, Splunk (NASDAQ:SPLK) hasn’t risen by as much as some of its peers. However, that just means investors have an opportunity to pick up a valuable stock at a discount.

This company also helps clients analyze and sort through their data. If Palantir is benefitting from the new data boom, Splunk could very well follow. It also features a generative AI tool used to enhance user experiences. This interface also allows the user to create Splunk Processing Language (SPL) queries. All this is meant to make Splunk’s valuable features more accessible to users.

On top of all that, the company recently reported fiscal Q1 2024 earnings and they did not disappoint. Splunk surpassed analyst estimates, reporting an 11% increase in revenue while annual recurring revenue rose by 16%. Even more impressive is its positive free cash flow, which saw a year-over-year (YOY) increase of 253%. When we consider all that, it’s not hard to see why Wall Street analysts remain highly bullish on SPLK stock.

Stem (STEM)

Conceptual image of a modern battery energy storage system with wind turbines and solar panel power plants in background

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Another company that often gets overshadowed by its larger peers, Stem (NYSE:STEM) offers investors exposure to both the AI and clean energy markets.

This perch at the intersection of these two growing sectors, combined with its low price point of less than $10, should make it an enticing play for investors who don’t mind a little risk. STEM stock has been on a winning streak this month, rising more than 26% and making it clear it doesn’t intend to slow down. Part of this is likely due to AI driven momentum. Stem’s Athena platform uses this new tech to maximize “energy asset performance and investments,” providing a valuable service. As I previously reported :

“The rising costs of electricity are creating a highly favorable economic landscape for Stem. As more and more companies invest in clean energy solutions, programs like Athena will become necessary for management and efficiency purposes. Stem’s revenue has been rising steadily this year, but the company is poised to soar in the coming years as it plays a critical role in both the green and AI revolutions.”

Symbotic (SYM)

Illustration of robot hand reaching for the letters "AI" with tech symbols around it. AI tech stock predictions

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Based in Wilmington, Massachusetts, this warehouse automation innovator is also riding the robotics boom that Lango discussed. Symbotic (NASDAQ:SYM) has surged by an astonishing 275% YTD, proving just how powerful the demand for warehouse automation is. It produces both robots driven by AI and an automation platform for warehouses. It has partnered with retail powerhouses such as Walmart (NYSE:WMT) and Albertsons (NYSE:ACI). Other companies are likely to follow as demand for robotic solutions in warehouse and shipping facilities increases. This technology can allow companies to decrease their operating costs and increase shipping efficiency, making it a worthwhile investment.

“Symbotic is also poised to benefit from higher spending by consumers on physical products, a phenomenon that I expect to begin occurring in earnest during the current quarter,” notes InvestorPlace contributor Larry Ramer.

That’s just one of the reasons that Ramer considers SYM stock to be one of the best ways to gain AI exposure.

Teradyne (TER)

Teradyne Silicon Valley office

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One of the world’s largest robotic technology producers, Teradyne (NASDAQ:TER) designs and manufactures automatic test equipment but it also produces collaborative robots, designed to work alongside humans. The company has taken significant steps to expand its AI operations, acquiring both Universal Robots and Mobile Industrial Robots. These deals give it a sizable share of an already booming market that is likely to only increase as industry trends spur demand for the type of robotic solutions that Teradyne provides.

Teradyne’s power lies in the fact that it both manufactures top-of-the-line equipment and creates robots designed to help automate away mundane tasks. Those are two areas in which demand isn’t fading, allowing it a clear pathway to growth. It has also partnered with companies in the automotive, defense and aerospace sectors, giving investors even more reason to bet on it. For these reasons, InvestorPlace contributor Faizan Farooque believes it has the potential to deliver “life-changing returns.”

AI Stocks to Buy: Wearable Devices (WLDS)

Man in suit wearing tech watch representing Wearable Devices (WLDS) stock

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This may seem like an unconventional choice for a list of the best AI stocks to buy. But pay attention.

Wearable Devices (NASDAQ:WLDS) is developing an AI-based “wearable neural interface” that could take it out of penny stock territory. Wearable Devices wants to put this device in the form of a wristband that can control technology with “subtle finger movements.”

Earlier this year, the company received a $900,00 grant from the Israel Innovation Authority (IIA) to develop the neural interface, sending shares soaring. It has had an overall outstanding year, rising 215% YTD and still trading at less than $2 per share.

If investors don’t mind some risk, WLDS could prove a highly profitable investment if it can get its flagship device to market. Its technology could prove to be the next big thing in AI, assuming it can keep developing it successfully.

On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks. 

Read More: Penny Stocks — How to Profit Without Getting Scammed 

On the date of publication, Samuel O’Brient did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.


Article printed from InvestorPlace Media, https://investorplace.com/2023/07/25-millionaire-maker-ai-stocks-to-buy-now/.

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