Best AI Stocks in 2024

Artificial intelligence has continued to innovate the tech sector. Investors aiming to profit from the AI revolution have numerous choices available, but identifying the stocks with the highest potential demands a deep comprehension of the market. Here, we will explore the best AI stocks in 2024:

NVIDIA Corp (NVDA):

With an impressive 262% increase in revenue from the previous year, NVIDIA keeps pushing forward with the momentum of AI advancements.The Graphics division provides GeForce GPUs for both gaming and PC use, along with GeForce NOW, a service for streaming video games, and the necessary infrastructure to support it.

The Compute & Networking division focuses on Data Center computing systems and comprehensive networking solutions, including Quantum for InfiniBand and Spectrum for Ethernet. It also includes the NVIDIA DRIVE automated driving platform, agreements for automotive development, robotics and embedded systems, AI Enterprise software, DGX Cloud software and services.

These products are utilized in gaming, professional visualization, data centers, and the automotive industry. The division sells its offerings to a wide range of customers, including original equipment manufacturers, original device manufacturers, system integrators and distributors, independent software vendors, cloud service providers, consumer internet companies, add-in board manufacturers, distributors, automotive manufacturers and tier-1 automotive suppliers, and other participants in the ecosystem.

ServiceNow Inc. (NOW):

ServiceNow, the cloud computing solutions provider for enterprises, is completely accelerating its expansion journey by boosting its artificial intelligence (AI) capabilities. ServiceNow went public by delivering an outstanding 425% increase in earnings per share (EPS), as well as an average 24% growth in revenue year over year, and that an AI-powered service agent is good news, as they begin to show a real commitment to their futuristic-intentions.

 The business of ServiceNow, Inc. is organized around two principal segment offerings: Cloud Services and Technology and Operations division. ServiceNow, Inc. provides a range of products and services within the Cloud Services segment, including NowPlatform, Customer Service, HR Service Delivery, Security Operations, Professional Services, Customer Support, and IT.

It offers IT services grouping into three categories for IT management and operations challenges; IT Service Management (ITSM), IT Operations Management (ITOM), and IT Business Management (ITBM) ServiceNow, Inc. today announced the “Orlando” release of its software with cloud-native IT operations capabilities, the first in the ITSM sector to direct Artificial Intelligence at resolving issues that can be put to use in the physical world.

Founded in 2003 as Glidesoft, Inc., the company changed its name to ServiceNow, Inc. with just three yearsuite a while before now. This cloud-based platform helps in establishing, managing, connecting and automating services for international business processes. ServiceNow, Inc. was incorporated on June 29, 2012 went public on the New York Stock Exchange (NYSE) and Nasdaq, adopting the symbol 'NOW'.

MicroStrategy Inc. (MSTR):

MicroStrategy has garnered attention for its status as the biggest company to own Bitcoin. This risky yet calculated strategy has driven its shares to an impressive 485% increase over the past year.

MicroStrategy Inc. is a company that specializes in providing business analytics and mobile application solutions. It provides the MicroStrategy Analytics platform, which offers the ability to generate reports and dashboards and allows for the execution of ad hoc analysis and the dissemination of findings via mobile phones or the internet.

Additionally, it offers the MicroStrategy Server, which is designed for analytical processing and the management of tasks. The segment of the company that is responsible for generating revenue focuses on the creation, development, promotion, and sale of its software platform through licensing deals and subscriptions to its cloud services, along with other related services.

Super Micro Computer Inc. (SMCI):

Super Micro Computer Inc., a major contender in the AI server industry, has experienced an incredible 351% increase in its stock value over the last year. Its offerings span from complete server and storage setups, to modular blade servers, blades, workstations, entire racks, networking gear, server subsystems, management software, and security tools. 

Moreover, the firm offers services in integrating servers and storage systems, configuring them, and providing software upgrades and updates; technical documentation services, including identifying service needs, planning projects, testing, and documentation, and training services; and support services for its servers and storage systems, including help desk and on-site product support, and ongoing maintenance and technical support for its products.

Additionally, the firm provides customer support services, including continuous maintenance and technical support for its products. It delivers its products to large-scale data centers, cloud computing, artificial intelligence, and 5G and edge computing sectors.

The firm specializes in server solutions tailored for applications, along with rackmount and blade servers, storage components, and related subsystems and add-ons; server software management tools like the Server Management Suite, which includes Supermicro Server Manager, Power Management software, Update Manager, Composer, and Doctor 5; and a range of server subsystems and add-ons such as server boards, chassis, power supplies, and more.

Applovin Corp. (APP):

Applovin, a leader in creating mobile app development platforms, has entered the world of AI-driven advertising, signaling a significant strategic shift that has resulted in a remarkable 230% increase in its stock value over the past year.

Additionally, the company provides SparkLabs, which focuses on improving ad visibility in app stores; AppLovin Exchange, which links advertisers with mobile and CTV devices through a direct RTB exchange; and Array, a comprehensive suite for managing apps for mobile operators and users.

Furthermore, the company is involved in the development and distribution of various free-to-play mobile games, catering to individuals, small businesses, large corporations, advertisers, advertising networks, mobile app publishers, independent game developers, and online platforms. The business functions in two main areas: Software Platform and Applications.

The company also provides ProcessUnity, an enterprise software platform that manages the compliance and risk management activities by streamlining and automating important operational and administrative processes, Admation, a cloud-based project management software that is designed for streamlining marketing activities and delivering top-down visibility to the creative process in real-time through automating the production of collaborative creative work.

Genius Monkey, a software and marketing tool that allows advertisers and marketers to track and analyze vital information on ad performance across multiple digital channels, and ADvendio, a marketing technology solution that automates and streamlines different marketing activities such as reporting, analysis, planning and execution of marketing programs through providing end-to-end solutions for advertisers.