Top 3 AI Stocks to Buy in March 2023

Top 3 AI stocks to buy in march 2023 for better returns in the present and future.

After significant advances in 2022, the artificial intelligence (AI) market is booming, with many of the world's largest companies venturing into the industry. According to Grand View Research, the AI market was worth $136.55 billion in 2017 and is expected to grow at a compound annual growth rate (CAGR) of 37.3% through 2030. AI will owe much of its future growth to its ability to improve almost any industry, from self-driving cars to healthcare, manufacturing, and aerospace, among others. As a result, the demand for AI stocks in march is also increasing.

In this article, we have discussed the top 3 AI stocks that you can buy in march 2023 for better returns in present and future. Read to know about AI stocks to buy in march.

1. Microsoft

Microsoft (MSFT 1.97%) is one of the most prominent names in artificial intelligence right now, with its $1 billion investment in tech start-up OpenAI in 2019 looking like the best investment of the century. OpenAI launched ChatGPT, an advanced chatbot capable of producing human-like dialogue based on prompts, in November 2022, kicking off the AI race. So far, the software has been integrated into Microsoft's search engine Bing and is available through the company's cloud service Azure.

2. Nvidia

While Microsoft allows you to invest in AI software, Nvidia (NVDA 2.71%) allows you to back its hardware. The tech behemoth creates graphics processing units (GPUs) with the processing power needed to run and develop AI software.

Nvidia has already made promising strides in the industry by announcing a partnership with Microsoft's Azure to build a massive cloud AI supercomputer in November 2022. The partnership will combine Nvidia GPUs with Azure to "assist enterprises in training, deploying, and scaling AI, including large, cutting-edge models."

3. Amazon

For years, Amazon (AMZN -0.04%) has used AI to efficiently run its e-commerce business, tracking customer searches, recommending products, forecasting when products will increase in demand, and even tracking deliveries.

The most compelling reason to invest in Amazon is its AI-powered cloud services delivered via its cloud computing platform, Amazon Web Services (AWS). The advancement of AI is inextricably linked to the cloud industry, as the technology can improve many features on which businesses worldwide rely. Amazon already provides AI services through AWS for use in machine learning, data science, and other areas.