10 Best AI Stocks in 2024 for Investing

TEMPO.CO, Jakarta - Artificial Intelligence, or AI, has captured the interest of people from all walks of life. From students to corporate employers to businessmen, all are eyeing the development of AI. 

The fame is due to the birth of Chatgpt, a technology-based conversation. Investors around the world see the potential of AI stocks. 

Cited from Forbes Advisor and NerdWallet, here are the top 10 best AI stocks in 2024 for investing. 

1. NVIDIA (NVDA)

Nvidia is the best AI stock to buy for its performance in the industry. Nvidia started its journey back in 1993 by providing 3D graphics services to multimedia and gaming companies. Fast forward to 2012, Nvidia has started developing AI applications. This means that they have been in the field for quite some time. 

NVDA earned an "A" grade for its financial health from Morningstar and it is said to continue the growth in 21.9% EPS in the following year. Today, the company produces microchips for AI applications along with its graphics cards. 

2. META 

META is the parent company that runs many social media platforms such as Instagram, Facebook and WhatsApp. Their business chain also includes many other companies. A few of their notable AI expansions are integrating the system into virtual reality and communicating through translation.   

Meta has a 15.4% jump in EPS this year alone and it is still fairly priced, making it a valuable AI stock for many types of investors. 

3. Arista Network (ANET)

Arista Network is ranked third among the top 10 best AI stocks in 2024 due to its strong EPS growth. Morningstar has also given ANET an "A" rating for its financial health. The stock's excellent performance is due to the products ANET produces, which include software for cloud computing and data centers. Its network is well adapted to the rapid growth of technological development. 

4. AMAZON 

Amazon is known as an e-commerce company. But beyond that, Amazon also operates in the cloud computing and data storage industries. Alexa and Echo are some of Amazon's most famous products. Both are AI software that can provide answers through voice recognition. 

Amazon has a "B" financial health rating, and it is expected to have 25.9% EPS growth in 2024. This is due to the rebound of its stock price in 2023, which resulted in its earnings turning positive after the drop in 2022. 

5. Palo Alto Networks (PANW)

Palo Alto Networks earned its position in the top 10 best AI stocks in 2024, as technological advancements are best paired with cybersecurity. PANW provides cloud and network security for numerous AI projects. 

The company earns a "B" financial rating from Morningstar, as it recently turned profitable. 

6. ServiceNow (NOW)

NOW made it to the list due to the company’s significant EPS growth for the last three years. As a result, it earned an “A” grade in the financial health rating. ServiceNow is a software provider that has an automated business service using Artificial Intelligence. 

7. Advanced Micro Devices (AMD)

AMD has been in the industry for quite some time since 1969 and has proven its competence. Moreover, Vamsi Boppana, the company's vice president, has stated that "AMD is driving AI everywhere," as quoted from AMD's official website. 

AMD has a "B" financial health rating and is predicted to show some progress in 2024 and 2025. 

8. UiPath (UPATH)

UPATH's solid performance has earned it a "B" financial health rating from Morningstar. Analysts are forecasting significant EPS growth for UPATH over the next five years. 

9. Tesla (TSLA)

As Elon Musk’s one of most primary businesses, Tesla has had multiple strong investors since its first appearance. Even so, the company only managed to earn a “B” financial health rating from Morningstar. 

10. C3.ai.inc (AI)

Although the company is fairly new in the stock trading industry and it isn’t profitable yet, analysts are saying its EPS growth is looking very good for the next five years. Morningstar graded this company as a “C” for its financial health. 

These top 10 AI stocks show strong potential for both short-term and long-term growth, making them compelling options for investors.

Forbes Advisor | NerdWallet

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