Artificial Intelligence stocks of the 10 best world AI companies this year

Artificial Intelligence، AI، is a growing field، and AI related stocks have done well over the past year and this year to date as well as have outpaced the S&P 500 by a significant margin year to date، as by mid last year، the SPDR S&P 500 Trust was up 18% while the First Trust Nasdaq Artificial Intelligence and Robotics ETF was up 24%.

Artificial Intelligence، AI، came more into focus with the release of ChatGPT

Artificial Intelligence، AI، has been with the world a long time، but it came more into focus with the release of ChatGPT and a plethora of similar apps since late 2022 and these apps could write reports، sort through data and find better ways of doing a number of tasks، which created a strong surge in AI related industry.

US News Magazine reported that many investors want to consider increasing their exposure to the best Artificial Intelligence stocks in the market that accounting and consulting firm PwC، PricewaterhouseCoopers، estimated that AI could contribute $15.7 trillion to the global economy by 2030.

Here are 10 of the best Artificial Intelligence، AI، stocks to buy، and analysts recommend these 10 best AI stocks to buy this year:

1-Microsoft Corp.:

After announcing a $1 billion investment in OpenAI in 2019، Microsoft increased its investment to $13 billion in January 2023 and integrated ChatGPT into its Bing search engine shortly thereafter، while in September 2023، Microsoft announced it is integrating its Artificial Intelligence، AI copilots into a single AI experience called Microsoft Copilot.

Microsoft reported AI accounted for 6 % of the 30% growth in its Azure and cloud services division in the fourth quarter that Microsoft's cloud services and AI technology make it the premier business technology company، so that analysts have a "buy" rating and $475 price target for MSFT stock، which closed at $415.50 on March 1.

2-Nvidia Corp.:

High-end chipmaker Nvidia provides the massive processing power needed to run advanced Artificial Intelligence، AI، applications and is the best-performing stock in the entire S&P 500 in 2023، and it's largely due to the company's AI exposure as demand for Nvidia's high-end AI chips drove staggering 265% revenue growth and 768% net income growth for Nvidia in the fourth quarter.

Nvidia has gained a tremendous early lead in the AI semiconductor design market، even after the stock's huge rally، Nvidia shares have much more upside ahead، with analysts have a "buy" rating and $850 price target for NVDA stock، which closed at $822.79 on March 1.

3-Alphabet Inc. (GOOGL):

Google and YouTube parent company Alphabet uses Artificial Intelligence، AI، applications and automation in virtually every facet of its business، from ad pricing to content promotion to Gmail spam filters، while Google launched its Bard AI chatbot in March 2023.

In December، Google announced Gemini، its most capable and general AI model ever. However، Alphabet was recently forced to pause a new AI image-generation feature after its inaccurate depictions of the race of historical figures drew widespread criticism. Despite the misstep، Bonner says Google remains a top competitor in the development of generative AI with analysts have a "buy" rating and $170 price target for GOOGL stock، which closed at $137.14 on March 1.

4-Amazon.com Inc. (AMZN)

Amazon has integrated AI into every aspect of its business، including targeted advertisements، marketplace search and recommendation algorithms، and Amazon Web Services، and offers a wide range of Artificial Intelligence، AI، and machine learning services to its AWS cloud customers، including advanced text analytics، automated code reviews and chatbots.

In January، Amazon rolled out a new Artificial Intelligence، AI، tool to answer shoppers' questions about products on its marketplace، as AWS is uniquely positioned to capitalize on the nascent AI-as-a-service market following Amazon's $4 billion investment in Anthropic، that analysts have a "buy" rating and $185 price target for AMZN stock، which closed at $178.22 on March 1.

Meta Platforms Inc. (META):

5-Meta Platforms is a market leader in social media and online advertising and is the owner of Facebook، Instagram and other platforms، as well as Meta is reportedly developing a new artificial Intelligence، AI، system built to be as powerful as the most advanced OpenAI model.

In January، Meta said its artificial Intelligence technology has helped boost return on spending for advertisers by an average of 32%، as Meta is competitive in generative AI technology and will continue to integrate and improve AI features that will help the company optimize efficiency، and analysts have a "buy" rating and $550 price target for META stock، which closed at $502.30 on March 1.

6-Taiwan Semiconductor Manufacturing Co. Ltd. (TSM):

Taiwan Semiconductor Manufacturing is the world's largest pure-play semiconductor foundry as it manufactures all the advanced artificial Intelligence، AI، semiconductors for Nvidia and other AI chipmakers and demand for high-end AI chips will help fuel 20% revenue growth for the company in 2024، despite weakness in smartphone and electric vehicle demand.

Generative artificial Intelligence، AI، is driving demand for high-end chips، and Taiwan Semi is the leading merchant fabrication investment option that the stock is attractively valued based on its long-term growth prospects and analysts have a "buy" rating and $130 price target for TSM stock، which closed at $133.90 on March 1.

7-Adobe Inc. (ADBE):

Adobe produces creative content software and other applications used for marketing and e-commerce as well as Firefly generative machine learning model is generating customer interest across Photoshop، Illustrator and other platforms، and has also applied its Sensei AI and machine learning technology to its Adobe Analytics، Campaign and Target products.

At the CES 2024 conference in January، Adobe's VP of Generative artificial Intelligence، AI، said the company is transitioning from a software company to an AI company which will continue to ramp up investments in generative AI features that analysts have a "buy" rating and $675 price target for ADBE stock، which closed at $570.93 on March 1.

8-ASML Holding NV (ASML):

ASML produces photolithography systems and other processing equipment used in semiconductor fabrication as ASML is the only major producer of the extreme ultraviolet (EUV) lithography equipment necessary to produce advanced artificial Intelligence، AI، chips.

In a recent interview، ASML CEO Peter Wennink said AI technology development requires massive amounts of data storage and computing power and without ASML's technology، that's not going to happen and strong guidance from Taiwan Semiconductor fueled by AI demand is bullish for ASML given Taiwan is ASML's largest regional market so that analysts have a "buy" rating and $1،000 price target for its stock، which closed at $990.94 on March 1.

9-International Business Machines Corp. (IBM):

IBM has been developing ways، for years، to adapt its AI supercomputer Watson to revolutionize health care، finance، law and academia، while IBM's portfolio of Watson artificial Intelligence، AI، solutions includes applications to improve customer service، automate workflow processes and predict outcomes as IBM's Watson Studio even helps enterprise customers build proprietary AI applications.

In December، IBM and Meta Platforms launched artificial Intelligence، AI Alliance، an international community of AI technology developers committed to open AI innovation as Watsonx.ai is an enterprise-ready AI and data platform that features three comprehensive foundation models and analysts have a "buy" rating and $225 price target for IBM stock، which closed at $188.20 on March 1.

10-Arista Networks Inc. (ANET)

Arista Networks supplies cloud networking solutions to internet companies، cloud service providers and enterprise data centers، while Arista's high-performance cloud networking solutions and high-throughput data center switches are necessary to provide the processing power required for intensive artificial Intelligence، AI، workloads.

In November 2023، Arista CEO Jayshree Ullal set a new goal of reaching $750 million in annual AI networking revenue by 2025 as generative AIs have led to a boom in cloud-based data center networking demand، a market in which Arista holds a definitive leadership position and analysts have a "buy" rating and $315 price target for ANET stock، which closed at $287.74 on March 1.