Consider These 2 AI Stocks for Your Portfolio

Nvidia (NASDAQ: NVDA) has been a dominant force in the artificial intelligence (AI) revolution, with its GPUs and Superchips in high demand for cloud infrastructure companies and start-ups like OpenAI. However, competition is on the horizon from companies like Advanced Micro Devices and Intel, as well as tech giants like Apple, Alphabet, and Meta Platforms, who are developing their own AI hardware.

Despite Nvidia’s impressive growth, there is some downside risk in the stock due to its significant jump in value since the start of 2023. This was evident when the stock fell 10% on April 19 amid fears of a bubble bursting in AI stocks.

For investors looking for AI stocks with long-term growth potential, Microsoft (NASDAQ: MSFT) and ServiceNow (NYSE: NOW) are worth considering. Microsoft has a strong partnership with OpenAI and has integrated generative AI technologies into various products like Azure, GitHub, and Microsoft Office. The company’s recent earnings report beat estimates, signaling its strength in the AI sector.

ServiceNow, known for its enterprise software suite, is also making strides in AI with tools like Now Assist and a Generative AI controller. The company’s consistent revenue growth and profitability make it a promising AI investment.

While Nvidia has been a standout in the AI space, Microsoft and ServiceNow offer alternative opportunities for investors seeking exposure to the growing AI market. With their diverse AI strategies and strong track records, these companies are well-positioned for long-term success in the evolving AI landscape.