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artificial intelligence (AI) has received an incredible amount of attention this year due to its release. Open AI Advanced chatbot, ChatGPT. Fortunately, ChatGPT isn’t the only chatbot released since its inception. Innovative chatbots released so far include Sydney, Jasper, Perplexity AI and You Chat. For this article, we asked Bing’s chatbot Sydney for their top three machine learning stocks of the month. For those unfamiliar, machine learning (ML) is a branch of artificial intelligence that enables computers to learn from data and experience without explicit programming. The potential of language-based AI makes machine learning stocks one of his hottest investments in 2023. This technology has many uses in various industries, including cloud computing, cybersecurity, and online search and discovery.
Overall, Sydney’s results were insightful but nothing special.
NVIDIA (NVDA)
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Nvidia (Nasdaq:NVDA) received a lot of attention and hype this year, both deservedly. The semiconductor company offers its customers not only graphics cards, but also machine learning know-how. Nvidia chips help power machine learning models, especially the sophisticated large-scale language models used to train and run deep learning, a subset of machine learning that involves complex neural networks.
Nvidia also offers software platforms like CUDA and TensorRT to help developers optimize their machine learning applications. Additionally, Nvidia is expanding its presence in the data center and automotive markets, where demand for machine learning is growing. Nvidia’s recent earnings show continued decline in revenue from its gaming division, but the overall demand for its AI chips used in data centers is clear. Nvidia’s stock has soared nearly 200% year-to-date, and the Nasdaq Composite’s year-to-date return has risen above his 31%.
Palantir Technologies (PLTR)
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Palantir Technologies (New York Stock Exchange:PLTRAt the time, Palantir was primarily building software to serve the US intelligence community. Today, the company has both corporate and government customers. Specializing in AI and ML, Palantir helps these companies and agencies extract insights from their data. His Palantir platforms such as Foundry and Gotham enable data integration, analysis, visualization and collaboration across various domains such as defense, healthcare, energy and finance. Additionally, the Apollo platform enables rapid deployment of software and updates.
In 2022, Palantir’s total revenue increased by 24% YoY. Additionally, the software company reported that his GAAP net income for the first quarter was positive. Similarly, total revenue increased 18% year-over-year in the first quarter of 2023, with Palantir posting positive second quarter GAAP net income on strong growth in the commercial and government sectors. By achieving and maintaining bottom line profitability, Palantir’s share price is up 140% year-to-date. Additionally, with the recent launch of an AI platform that can assist customers with data-specific inquiries, Palantir’s potential to innovate and remain relevant should not be underestimated.
Pinterest (PIN)
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Many people will consider Pinterest (New York Stock Exchange:pin) is just a social media platform for searching image and video-based content, so this characterization ignores all the software underneath. The company uses ML to personalize content recommendations for users. Pinterest’s machine learning algorithms analyze your behavior, preferences and interests to provide you with relevant Pins, ads and shopping experiences. In the first quarter of 2023, Pinterest beat Wall Street expectations, reporting a 5% year-over-year revenue increase, driven primarily by strong growth in global monthly active users and average revenue per user. Additionally, Pinterest has announced advertising partnerships with: Amazon (Nasdaq:AMZN), which will allow e-commerce giants to advertise on Pinterest’s platform. Pinterest’s stock is up more than 25% year-to-date.
Publication date, Tirik Torres I had no position (directly or indirectly) in the securities mentioned in this article. The opinions expressed in this article are those of the author and are subject to InvestorPlace.com Publishing Guidelines.
