Top 10 Blue Chip AI Stocks to Buy According to Billionaire Cliff Asness

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

AQR Capital Management Equity Stakes: $1.18 Billion

Number of Hedge Fund Holders: 338

Amazon.com, Inc. (NASDAQ:AMZN) is an internet giant engaged in e-commerce, cloud computing and digital streaming. It also provides artificial intelligence services through Amazon web services, among other offerings. It is one of the best blue chip AI stocks to buy, according to billionaire Cliff Asness, given the diversified nature of its core business.

Amazon.com, Inc. (NASDAQ:AMZN) has integrated AI into every aspect of its business, including targeted advertisements, e-commerce search, and Amazon Web Services (AWS).  With revenue climbing 19% year over year in the fourth quarter, Amazon Web Services (AWS) is the top cloud service provider and one of Amazon’s fastest-growing units. AI-related services that enable companies to create AI apps and automate business procedures are in high demand.

Last year, Amazon.com, Inc. (NASDAQ:AMZN) generated $59 billion in net income and $638 billion in net revenue. Analysts expect earnings to expand at a compound annual rate of 21% over the next three years as the tech giant experiences robust growth in its key business segments, including AWS.