5 Year-to-Date (YTD) Gaining AI Stocks of 2024
Artificial intelligence (AI) and Google queries such as, "best artificial intelligence stocks," are some of the most searched terms of 2024---and for good reason. Businesses and individual users alike are becoming more curious about what AI means for their daily lives and as investment vehicles right now and in the future. We're compiling a list of 5 year-to-date (YTD) gaining AI stocks of 2024 for you to evaluate if they might fit into your financial plan, objectives, and risk tolerance.
Stocks | Market Cap | YTD Performance |
MicroStrategy (MSTR) | $31.93 billion | 133.27% |
Nvidia (NVDA) | $3.04 trillion | 129.63% |
Arm Holdings (ARM) | $165.22 billion | 106.05% |
Spotify Technology (SPOT) | $64.7 billion | 71.56% |
PROCEPT BioRobotics (PRCT) | $3.19 billion | 58.45% |
MicroStrategy (MSTR)
Market Cap: $31.93 billion
Year-to-Date Performance: 133.27%
MicroStrategy is an American company that offers enterprise analytics and mobility software. It specializes in designing, developing, marketing, and selling software platforms, cloud-based subscriptions, and related services. While not solely an AI company, MicroStrategy is doubling down on its AI investments through a multi-year partnership with Microsoft, which is intended to enhance the AI capabilities of its analytics platform, MicroStrategy ONE.
The MicroStrategy-Microsoft partnership will range from natural language capabilities to create new dashboards and visualizations to enhanced productivity regarding content creation and code. On another interesting note, MicroStrategy has simultaneously been making headlines for being the largest corporate holder of Bitcoin with a total of 189,150 BTC. Notably, ever since MicroStrategy started stockpiling Bitcoin four years ago, its shares have increased about ten times over.
Nvidia (NVDA)
Market Cap: $3.04 trillion
Year-to-Date Performance: 129.63%
Nvidia is also an American company, albeit specializing in semiconductors. It develops and markets graphics, and mobile processors for personal computers, smartphones, tablets, and workstations. Nvidia's high-end AI chips, in particular, are indispensable for the processing power that AI software needs to perform at its best.
Similar to the MicroStrategy-Microsoft partnership, Nvidia's partnership with Amazon Web Services (AWS) brings together Nvidia's GPUs, CPUs, and AI software with AWS' advanced virtualization and security technologies. It's the next step in more than 13 years of Nvidia-AWS collaboration. Ultimately, it seeks to further advance generative AI for cost-effective, accelerated computing that can deliver varied content generation.
Arm Holdings (ARM)
Market Cap: $165.22 billion
Year-to-Date Performance: 106.05%
Arm Holdings (Arm) is a British semiconductor and software design company that focuses on the design of central processing units (CPUs). Arm's chip designs are utilized by every major semiconductor maker, ranging from Apple to Nividia to Qualcomm. Despite Arm's chips being widely used in cell phones and consumer electronics overall, Arm actually has diverse use cases in automotive, data center, client, and the Internet of Things (IoT). Arm's strong YTD gains so far are largely due to more of their clients seeking higher-value chip and software technology for their respective AI ambitions, as well as Arm's already established footholds as a cloud server and in the automotive industry.
Spotify Technology (SPOT)
Market Cap: $64.7 billion
Year-to-Date Performance: 71.56%
Spotify is a Swedish digital music streaming and media service provider launched in 2006 and it now has become the market leader with 36% of the US market; Apple Music trails at 30.7%; and Amazon Music at 23.8%. At its inception, Spotify grew quickly in large part due to its concessionary agreement with record labels such as EMI, Universal, Sony, and Warner.
Since then, Spotify has continued to grow and dominate the streaming service industry because of its investments in AI. Three standout AI technologies underpinning some of its most popular features (such as an AI DJ) include collaborative filtering, natural language processing (NLP), and audio models. Those technologies contribute to Spotify's ability to determine users' music and podcast tastes and make playlist recommendations that make sense for users.
PROCEPT BioRobotics (PRCT)
Market Cap: $3.19 billion
Year-to-Date Performance: 58.45%
PROCEPT BioRobotics (PROCEPT) is a San Jose, California-based surgical robotics company. It specializes in advanced patient care, especially in regards to research and development in urology, or urinary, pelvic, reproductive, and genital conditions. PROCEPT's YTD gains were not as impressive as the other four stocks. However, its main strength lies in its two robotics systems, Aquablation therapy, an alternative to surgery, and AquaBeam, a heat-free robotic therapy.
In terms of artificial intelligence, PROCEPT is attempting to integrate AI and machine learning into its existing systems and technologies. One of its endgoals is to improve its computer-assisted anatomy recognition, treatment planning, and patient-specific personalization, and make them scalable for potential commercial usage.
Investment considerations when buying stocks with moomoo
Investing in stocks, whether you're buying AI stocks or other industry stocks, it should be a thoroughly researched endeavor. To invest in any stocks with moomoo, you should think about these points before you put your money where your mouth is:
Do you want to buy, manage, and keep track of your stocks and overall portfolio yourself? If not, can you afford a robo-advisor or financial advisor? If you can't afford either of those right now, do you have the time and motivation to consistently buy stocks, even in a long-term "set-it-and-forget-it" strategy?
Regardless of whether you want to be entirely self-directed or entrust your financial health to a financial advisor, you need to do your own research about your brokerage selection, stock picks, and other financial products such as mutual funds and exchange-traded funds (ETFs). Consistently improving your financial knowledge is key to assessing your own--or a financial advisor's strategies--and taking your future into your own hands. That's important because no one will care as much about your financial well-being as yourself.
Be honest about your finances, short- and long-term goals, and risk tolerance, with yourself or a financial advisor. Honesty is essential to planning and should influence your overall financial decisions, including your stock portfolio.
FAQs About AI Stocks
What AI Company is Elon Musk Investing in?
Billionaire Elon Musk is investing $5 billion of his own money into his own artificial intelligence company, xAI. Musk founded the company in 2023 with the stated goal of trying to, "understand the true nature of the universe." The CEO of Tesla, SpaceX, and owner of X, recruited only the best for xAI to compete with OpenAI's GPT. More specifically, the xAI team consists of alumni from Google Research, Microsoft Research, and DeepMind. That same year, xAI already made waves by launching ChatGPT chatbot rival, "Grok," which has been noted for its somewhat offcolor and no filter sense of humor.
Can I buy OpenAI Stock?
OpenAI is an American AI research organization based in San Francisco, California. Founded in December 2015, OpenAI is not a publicly traded company. As a result, you cannot buy OpenAI stock. Microsoft owns about 49% of OpenAI and also invested about $13 billion into the nonprofit. Other early investors include Musk, LinkedIn founder Reid Hoffman and its current CEO, Sam Altman, venture capitalist Peter Thiel, who also co-founded PayPal and Palantir Technologies, as well as the Indian multinational technology company, Infosys, that's infamous for information technology, business consulting, and outsourcing services.
