The Rise of Artificial Intelligence Stocks in 2021
Artificial Intelligence is rapidly transforming various sectors of the economy, and this transformation has resulted in the growth of AI companies. AI companies have attracted a lot of attention from investors as they offer significant growth opportunities. In 2021, AI companies are expected to grow further. In this article, we explore the top 5 Artificial Intelligence stocks to buy in 2021.
1. NVIDIA Corporation (NVDA)
NVIDIA Corporation is a leader in AI technology. Its GPUs (Graphics Processing Units) are widely used in AI applications like self-driving cars, automated factories, and more. In 2020, NVIDIA’s shares shot up by 115%, while it’s expected to grow further in 2021.
One reason for NVIDIA’s growth is its acquisition of Arm Holdings, which has given it a considerable advantage in the CPU market. The company’s data center business is also expected to grow significantly, contributing to the high growth forecast.
2. Advanced Micro Devices (AMD)
Advanced Micro Devices (AMD) is another growing provider of AI solutions. The company designs and manufactures processors for personal computers, gaming, and data centers. AMD has grown by 90% in 2020, and its growth is projected to continue in 2021.
AMD’s growth is driven by its strong position in the gaming industry and its acquisition of Xilinx. Xilinx is a leading provider of FPGAs (Field Programmable Gate Arrays) used for AI and data center applications.
3. Amazon (AMZN)
Amazon is a dominant player in the AI industry, with its Alexa-powered devices and AWS (Amazon Web Services) offerings. AWS provides cloud computing services used by businesses worldwide. Amazon’s shares grew by almost 80% in 2020 and are expected to grow further in 2021.
Amazon’s AI offerings are driving its growth, while the company’s e-commerce business continues to flourish. Amazon’s strategic acquisitions are an essential factor behind its growth, and its focus on innovation is helping it stay ahead of the competition.
4. Alphabet Inc. (GOOGL)
Alphabet is the parent company of Google and an AI giant. Google is a leader in AI innovation, with its AI-powered voice assistants and search algorithms. Google’s shares have grown by over 30% in 2020, and its growth is expected to continue in 2021.
Google’s AI-powered solutions drive its growth, while its advertising business continues to generate significant revenue. The company’s focus on innovation, coupled with its data analytics capabilities, is helping it stay competitive in the AI industry.
5. Microsoft Corporation (MSFT)
Microsoft is one of the most innovative AI companies globally, with its Azure cloud platform and AI-powered chatbot. Microsoft’s shares grew by over 40% in 2020, and its growth is expected to continue in 2021.
Microsoft’s Azure cloud platform is powering its growth, with its AI offerings driving the company’s revenue growth. Microsoft’s focus on strategic acquisitions and partnership agreements is also a crucial factor behind the company’s growth.
The Bottom Line
AI is a rapidly growing industry, and these five companies are at the forefront of innovation and growth. Each of them has a unique set of offerings that are helping them stay ahead of the competition and drive significant revenue growth. Investors looking to capitalize on the growth of the AI industry should consider investing in these top 5 AI stocks in 2021.
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