Amidst the ever-shifting landscape of technology, artificial intelligence (AI) has been one of the biggest catalysts for the tech sphere in 2023. Even as the fanfare subsides, AI’s stronghold remains undeniable, especially when eyeing the Nasdaq impressive 35% surge this year, fueled predominantly by AI tailwinds. According to projections from Grand View Research, the AI market is on track to soar to an astronomical $2 trillion valuation by 2030. Consequently, tech juggernauts are scrambling to embed generative AI seamlessly into their offerings. While it’s still early days, certain AI stocks to buy have already begun to shine brighter than others, with share prices skyrocketing, with some even tripling in value. So, diving into these AI stocks could be an intriguing proposition for those looking to spice up their portfolios.

AI Stocks to Buy: Amazon (AMZN)

Amazon’s (NASDAQ:AMZN) powerhouse, Amazon Web Services (AWS), is undeniably at the forefront of AI-infused cloud services. AWS is a market leader in the sector, delivering a recent sales spike to $22.1 billion in the last quarter, accounting for a staggering 70% of Amazon’s total operating profits.

CEO Andy Jassy believes AI will redefine the customer experience landscape. Moreover, AWS’s DNA is deeply linked to machine learning and AI, as evidenced by innovations such as Amazon’s Bedrock. This savvy AI model, designed for customization, allows businesses to harness and modify proprietary data effectively, developing intuitive conversational agents that offer tailor-made user experiences.

With the release of a new and improved Alexa voice assistant, which Amazon claims to be “smarter and more conversational,” the tech giant aims to solidify its position in the AI domain further. AMZN can add new layers to its illustrious growth story as it continues to weave generative AI into its fabric.

Adobe (ADBE)

Adobe’s (NASDAQ:ADBE) recent flurry of announcements signals an AI-driven renaissance within the software behemoth’s corridors. The business lifted the curtains on a slew of AI enhancements just before dishing out its sterling earnings results. Moreover, these advancements have had a tangible impact on Adobe’s balance sheet, as evidenced by its third quarter profits of $4.09 a share, eclipsing Wall Street’s $3.98 projections.

The Firefly suite is a standout in their AI arsenal, celebrated for its novel text-to-image feature. Testaments to its acclaim, users have crafted a whopping two billion images using Firefly, all within this year. But what truly distinguishes Adobe’s AI foray is its ethical stance. The company only uses its licensed art to train its AI, which artists appreciate. This responsible choice makes people respect them more and could be a reason it’s raising prices by 8% to 10% for some plans in November. As the bridge between art and technology, Adobe’s AI strides ensure it remains an unmatched sector maestro. Consider adding it to your list of AI stocks to buy now.

Qualcomm (QCOM)

Qualcomm (NASDAQ:QCOM) presents itself as an intriguing picks-and-shovel play within the lucrative realm of AI. Basking in the glow of promise, the company offers investors a compelling blend of robust returns and stability. Additionally, Tiprank’s analysts point to a 27% potential upside, with a reliable 3% dividend yield, seasoned with 19 years of growth.

While Qualcomm’s strong ties to tech giant Apple (NASDAQ:AAPL), as a premier chip supplier, are well-chronicled, its foray into phone-based AI generates ripples of excitement. The firm is harnessing its chip prowess in developing Snapdragon chips designed to handle AI tasks natively on smartphones.

Qualcomm’s newly inked chip supply deal with Apple adds zest to this narrative. This pact ensures that the company’s Snapdragon 5G Modem-RF systems find their home in Apple’s AI-intense iPhones. While Apple flirts with the idea of crafting its modems, Qualcomm, for the foreseeable future, stands poised as the prime beneficiary.

Meta Platforms (META)

In the ever-evolving realm of AI, one might not immediately associate Meta Platforms (NASDAQ:META) with groundbreaking advancements. Yet, this tech behemoth, known more for social media mammoths like Facebook and Instagram, is charting an ambitious course in the AI seas.

Its AI journey, while impressive, has had its hurdles. February saw the introduction of its Llama large language model, which hung tough in the presence of OpenAI’s ChatGPT regarding capabilities. Undeterred, Meta rolled out Llama 2, opting for an open-source approach a few months later, and this strategic move aims to lure developers by offering a platform teeming with transparency and customization abilities.

Yet, the tech giant acknowledges the superior prowess of GPT-4. In response, Meta is said to be developing a rival model, fortified by its acquisition of Nvidia’s (NASDAQ:NVDA) H100 AI-training chips. Therefore, under the dynamic leadership of Mark Zuckerberg and with plans to infuse generative AI into its social platforms, Meta is not just vying for a seat at the AI table; it’s looking to make a mark.

Digital Realty Trust (DLR)

As a prominent real estate investment trust (REIT) focusing on data centers, Digital Realty Trust (NYSE:DLR) essentially taps into the foundational infrastructure of AI while effectively catering to diverse needs, including web server storage. Heavyweights, including Meta Platforms, entrust their digital assets to DLR’s facilities. That’s why it made this list of AI stocks to buy.

Though its stock performance has been relatively steady over the past few years, the AI surge promises to inject renewed momentum. A commendable double-digit uptick in stock value this year, complemented by an attractive dividend of more than 3.5%, paints a rosy picture. What’s more, Digital Realty Trust’s expansive portfolio of over 300 data centers serves a vast clientele of more than 5,000 customers. As AI continues its upward trajectory, the trust’s clientele will undoubtedly expand its data footprints.

This growth potential isn’t mere speculation. Recent financials point to DLR’s robust strategy, with price hikes and consistently high occupancy rates driving a striking 24.5% year-over year (YOY) revenue surge and an 86.3% YOY net income climb in its most recent quarter.

Nvidia (NVDA)

Nvidia stands as a beacon in the burgeoning world of AI. This tech titan hasn’t merely dipped its toes in the AI waters but has surged ahead, effectively riding the generative AI wave with unparalleled mastery. As we’re still navigating the early stages of AI’s potential, the company’s achievements position it as an indispensable addition to any investor’s watchlist.

Fueling Nvidia’s meteoric rise is the appetite for its AI training and inference chips. Its HGX systems, the lifeblood of expansive language models and generative AI, have now been deployed across every major cloud provider. This technological alliance has been incredibly fruitful for the business, evident in its staggering 88% quarter-over-quarter revenue growth, touching a record $13.51 billion in Q2. Particularly remarkable is the data center segment, primarily responsible for vending AI chips, which posted a jaw-dropping 171% growth YOY.

To truly grasp Nvidia’s potential trajectory, consider the words of its executive, Manuvir Das, Who envisions the sector to rise to an estimated value of $600 billion.

SoundHound AI (SOUN)

SoundHound AI (NASDAQ:SOUN) is last but certainly not least on this list of AI stocks to buy now. It’s emerging as a force to be reckoned with in the AI sphere, especially with its visionary goal of ushering voice assistants into various vehicles. This audacious move elevates the automotive realm and positions SoundHound AI as a captivating blend of risk and reward. However, it’s not just its lofty aspirations that turn heads, as its rock-solid business blueprint demands attention.

Its alliance roster reads like the who’s who of the tech world, including giants such as Microsoft (NASDAQ:MSFT) and Block (NYSE:SQ). Such partnerships underline SoundHound AI’s growing influence in an alluring market space. Financial enthusiasts would be intrigued by the company’s latest figures, boasting a hearty 42% spike in YOY revenue, counterbalanced by a 28% annual dip in net losses. Adding a cherry atop this tech sundae, leading Wedbush analyst Dan Ives bestowed an “outperform” rating on SoundHound AI, drawing the spotlight with a promising $7 price target.

On the date of publication, Muslim Farooque 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.