It’s a pretty good day to be an AI stock investor after Deutsche Bank praised artificial intelligence and chip stocks, particularly those that help provide the infrastructure to make AI work in the first place. As a result, several AI stocks rose, with C3a1 (NASDAQ:AI), Amazon (NASDAQ:AMZN), and Microsoft (NASDAQ:MSFT) up fractionally. Nvidia (NASDAQ:NVDA) gained modestly, while Meta Platforms (NASDAQ:META) added over 2% in Wednesday afternoon’s trading.
The AI semiconductor market could ultimately reach $119.4 billion by 2027, and that accounts for roughly one dollar out of every five made therein. Nvidia is naturally considered a leader in this market, but it’s far from alone. The report looks for gains to be made on several fronts, including machine learning, smart devices, and the overall rise of data generation, consumption, and analysis.
A Rise in AI Interest
Thanks to AI, Nvidia is actually now worth more than Amazon in terms of market cap. That’s no small feat, especially considering how widely diversified Amazon actually is. But that’s the power of AI, which is potentially ready to reshape the world in ways we can barely imagine. While a skeptical public is calling for regulation—and knowledge workers are deeply concerned about their individual jobs and industries—the end result is downright unfathomable at this point.
Which AI Stocks Are a Good Buy Right Now?
Turning to Wall Street, the laggard in the field right now is C3.ai, a Hold-rated stock whose $27.50 average price target gives it a 5.04% downside risk. Meanwhile, AMZN stock is the leader, as this Strong Buy stock offers a 22.21% upside potential against a $207.92 average price target.
