Top-5 AI Growth Stocks to Watch in 2024

As we look towards 2024, artificial intelligence continues to be a revolutionary force driving change across various industries. With this technological advancement, investors are keen on identifying stocks that have the potential for significant growth due to their involvement in AI and related sectors. In light of this, we have compiled a list of top-5 AI growth stocks that investors should consider buying with confidence, anticipating they could deliver top-notch returns now and in the years to come.

Alphabet Inc. GOOG

Leading our list is Alphabet Inc., the world-renowned parent company of Google and a host of other subsidiaries. Headquartered in Mountain View, California, Alphabet has remained a titan in the tech industry, diversifying its portfolio to include AI and machine learning, while maintaining a strong foundation in search and advertising. Alphabet's ambitious projects and steady growth make it a promising candidate for investors looking to benefit from the AI boom.

Nvidia Corporation NVDA

Nvidia Corporation has cemented its role as a key player in the development of graphics processing units (GPUs) which are crucial for AI processing and deep learning applications. With its headquarters in Santa Clara, California, Nvidia continues to push the envelope in GPU innovation and its expansion into automotive and mobile computing fields positions it as a stock with exciting growth potential.

Medtronic plc MDT

In the healthcare sector, Medtronic plc has distinguished itself as a leader in medical device innovation. This company, with operational headquarters in the US, is embracing AI to enhance medical devices and patient care. By investing in MDT, shareholders stand to gain from advancements in medical technology and AI integration.

Moderna, Inc. MRNA

The biotechnology sphere has been forever changed by Moderna, Inc., a company that specializes in mRNA-based vaccines and therapies. Headquartered in Cambridge, Massachusetts, Moderna's pioneering work in developing mRNA vaccines—particularly highlighted during the COVID-19 pandemic—shows the potential of AI in accelerating drug development and personalized medicine, thus making MRNA a stock worthy of investor attention.

International Business Machines Corporation IBM

IBM stands tall as a giant in the technology world, boasting a rich history of innovation including the development of the ATM, the hard disk drive, and the relational database, among others. IBM continues to invest heavily in AI and cloud computing, consolidating its place as an attractive stock for investors focused on established companies with a forward-looking approach.

Amazon.com, Inc. AMZN

Completing our list is Amazon.com, Inc., a behemoth in e-commerce, cloud computing, digital streaming, and AI. Amazon’s relentless innovation and expansion have positioned it as a company that not only leads market trends but also creates them. Its continuous growth in AI services and products makes AMZN a compelling investment for those optimistic about tech advancements in commerce and beyond.

Investment, Technology, Growth