With Cryptocurrencies such as Bitcoin down 4% and Ethereum down 10% in the last six months, these AI stocks, as per Motley Fool, are emerging as the smarter choice.
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01.
Amazon (AMZN)
Amazon's stock has soared by 66% YTD. In Q2 2023, its North American segment reported an operating income of over $3 billion, from $627 million loss previous year.
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Also, Amazon's cloud platform, AWS, serves giants like Netflix and Meta. So, With its AI tools and a focus on chip development, Amazon is poised for long-term growth.
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02.
Microsoft (MSFT)
Microsoft's $1 billion investment in OpenAI has granted it a 49% stake in the AI startup, which has allowed MFST to integrate AI features into its products.
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Microsoft's 365 Office suite revenue jumped 15% YoY in Q4 2023. With the intro of AI services, MFST is set to become the preferred choice for AI tools.
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03.
Advanced Micro Devices (AMD)
AMD's revenue has risen by 265% over the past five years, with its operating income up by 180%. The stock itself has risen by 420% during this time.
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Also, with the acquisition of AI firm Mipsology and backing from Microsoft, AMD is gearing up to be a formidable player in the AI chip market.
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CONCLUSION
Amazon, AMD, and Microsoft are not just leading in AI; their impressive financials back their potential. Also, these AI stocks are the wiser choice over cryptocurrencies.