5 Best AI Stocks to Buy Now

In this piece, we will take a look at the five best AI stocks to buy now. For more stocks, head on over to 12 Best AI Stocks to Buy Now.

5. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Holders: 89

NVIDIA Corporation (NASDAQ:NVDA) is one of the world’s largest semiconductor designers. The firm provides graphics processing units (GPUs) that enable artificial intelligence and machine learning processing. It is headquartered in Santa Clara, California, the United States.

NVIDIA Corporation (NASDAQ:NVDA)’s products are used for both development and deployment models. The former is used in cloud computing and data centers, while the latter is used in automotive and robotics. Additionally, the firm’s GPUs also reduce end to end and data preparation times by more than half when compared to traditional central processing units (CPUs).

Insider Monkey’s Q3 2022 survey covering 920 hedge funds revealed that 89 had invested in NVIDIA Corporation (NASDAQ:NVDA).

Out of these, Ken Fisher’s Fisher Asset Management is NVIDIA Corporation (NASDAQ:NVDA)’s largest shareholder. It owns 12 million shares that are worth $1.4 billion.

4. Advanced Micro Devices, Inc. (NASDAQ:AMD)

Number of Hedge Fund Holders: 89

Advanced Micro Devices, Inc. (NASDAQ:AMD) is an American semiconductor designer. The firm sells graphics processing units (GPUs) and central processing units (CPUs). It is headquartered in Santa Clara, California.

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s EPYC CPUs and Radeon GPUs are designed to support artificial intelligence and machine learning workloads. The firm also offers Instinct Accelerators and an Accelerator Cloud for these technologies. Advanced Micro Devices, Inc. (NASDAQ:AMD) products are used by several firms such as Dell, Lenovo, ASUS, and HP.

By the end of this year’s third quarter, 89 out of the 920 hedge funds polled by Insider Monkey had held a stake in Advanced Micro Devices, Inc. (NASDAQ:AMD).

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s largest investor is Ken Fisher’s Fisher Asset Management which owns 19 million shares that are worth $1.2 billion.

2. Microsoft Corporation (NASDAQ:MSFT)

Number of Hedge Fund Holders: 269

Microsoft Corporation (NASDAQ:MSFT) is an iconic technology company that is known for its Windows operating system. The firm also has cloud computing and consumer computing divisions. It is headquartered in Redmond, Washington, the United States.

Microsoft Corporation (NASDAQ:MSFT) focuses on several different industries through its artificial intelligence products. These include climate change, healthcare, preserving cultural heritage, creating equal outcomes and opportunities, and enabling action in disaster struck regions. It also enables companies to scale up their models and deploy deep learning through a prebuilt platform.

269 out of the 920 hedge funds analyzed by Insider Monkey had bought a stake in Microsoft Corporation (NASDAQ:MSFT) during this year’s third quarter.

Michael Larson’s Bill & Melinda Gates Foundation Trust is Microsoft Corporation (NASDAQ:MSFT)’s largest shareholder through a $9 billion stake that comes via 39 million shares.

1. Amazon.com, Inc. (NASDAQ:AMZN)

Number of Hedge Fund Holders: 269

Amazon.com, Inc. (NASDAQ:AMZN) is the world’s largest electronic commerce retailer. The firm also has cloud computing, satellite internet, and consumer technology divisions. It is headquartered in Seattle, Washington, the United States.

Amazon.com, Inc. (NASDAQ:AMZN) is known for its ‘flywheel’ approach to artificial intelligence. This approach accepts that the costs of setting up artificial intelligence models are immense, but once the ‘wheel’ starts turning, it becomes nearly self sustaining and reaps massive benefits. Through flywheel, Amazon.com, Inc. (NASDAQ:AMZN) uses predictive and generative insights from one business division to improve performance in others.

Insider Monkey’s Q3 2022 survey of 920 hedge funds outlined that 269 had bought Amazon.com, Inc. (NASDAQ:AMZN)’s shares.

Out of these, Ken Fisher’s Fisher Asset Management is Amazon.com, Inc. (NASDAQ:AMZN)’s largest shareholder. It owns 49 million shares that are worth $5.6 billion.

Disclosure: None. You can also take a look at 10 Best Auto Stocks To Buy Now and 10 Best Safe Dividend Stocks for Retirement Portfolios.

Follow Insider Monkey on Twitter