The IBD Leaderboard belongs to Microsoft. In addition, IBD’s selected list of leading stocks that stand out on technical and fundamental metrics is the Leaderboard.
The Leaderboard is also owned by chip manufacturer Nvidia (NVDA), a leader in artificial intelligence. Nvidia decided to acquire Arm Holdings from Softbank for $40 billion in September.
Stocks in artificial intelligence are rarer than you might expect. Several enterprises support AI technology projects and machine learning. But there are really few if any, public, pure-play stocks of artificial intelligence.
Look for enterprises that use AI technologies to optimize products or achieve a competitive edge, such as Netflix (NFLX), instead. A CB Insights venture capital study said that Intel (INTC), Alphabet’s (GOOGL) Google and Microsoft (MSFT) made the most investments in AI start-ups in 2019.
Companies for Apps
Any tech firms are among artificial intelligence stocks to watch, apart from chip makers. AI platforms are used by many software-as-a-service businesses.
At a digital transformation investor event on Oct. 20, Workday (WDAY) highlighted its AI and machine learning product advancement. A cup-with-handle buy point of 236.94 has been forged by Workday stock.
On Nov. 3, San Mateo, Calif.-based Coupa (COUP) agreed to acquire AI-powered supply chain software provider Llamasoft for approximately 1.5 bil.