3 Artificial Intelligence (AI) Stocks to Add to Your Portfolio

Whether true or false, Nvidia has become the face of artificial intelligence (AI) on Wall Street. It is not a coincidence ; Nvidia’s growth has exploded since the start of last year, and the stock’s gains have made it a household name among investors.

However, it is worth emphasizing that AI goes well beyond a single company. You can buy and hold stocks like Nvidia, but don’t overlook the upside potential of some smaller companies that have the ingredients to become big winners in the future.

Here are three AI Stocks You Can Add to Your Long-Term Portfolio:

1. Palantir Technologies

Data is arguably the foundation of how AI works. It would therefore make sense that companies that make the best use of their data would benefit from a competitive advantage. This is the quick and dirty pitch for Palantir Technologies (NYSE:PLTR).

The company creates custom software applications on its platforms (Foundry, Gotham and AIP) that help organizations analyze their data in real time. Palantir works closely with the US government, its allies and the private sector, where expansion is rapid.

AIP, or its artificial intelligence platform, has reached a new level of growth and could be the long-term catalyst that turns Palantir into one of the world’s largest companies in the coming decades. AIP helps develop and deploy AI applications for government and businesses.

The value of AIP is evident throughout Palantir. Growth in commercial customers accelerated to 69% year-over-year in the first quarter, mainly due to interest in AIP.

Palantir is growing and profitable, with a balance sheet of $3.9 billion in cash and no debt. Analysts estimate the company’s earnings will grow at an annualized rate of 27% over the next three to five years.

The company still has only 262 commercial customers in the United States. This figure could continue to rise for a long time if it continues to demonstrate the value of its AI technology to businesses.

2. Snowflake

An organization’s data isn’t there, ready to be used. Businesses need to store them securely, which creates a huge opportunity for Snowflake (NYSE: SNOW).

The company is a cloud-based data storage and analytics platform that allows customers to easily store their data and access it at any time. Just think about the different formats and sources of data; Data SEO quickly becomes a matter of finding the needle in the haystack. This is where Snowflake helps.

Snowflake has a usage-based billing model that allows customers to tailor its products to their needs. And as data grows exponentially, businesses should increase their use of Snowflake as their data grows. As proof, the company boasts a solid net revenue retention rate of 128%.

Along with this organic revenue expansion comes the opportunity to add new customers. Snowflake has approximately 9,822 customers today, and with 1.7 million C corporations in the U.S. alone, there is tremendous long-term runway. Overall, it seems likely that it will experience double-digit growth for many years.

3. CrowdStrike Holdings

Cybersecurity always…

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