Best AI Stocks for 2024

These are just a few examples of companies operating in various sectors that stand to benefit from the continued growth and integration of AI technologies in 2024. Keep in mind that the stock market is dynamic, and it’s crucial to conduct thorough research and monitor market trends before making investment decisions. Here is our top list of AI companies that could benefit in 2024:

Arista Networks Inc (ANET) — 146% Rating

Arista Networks Inc (ANET) operates in the development, marketing, and sale of cloud networking solutions. Headquartered in Santa Clara, California, the company employs 3,612 full-time professionals. Going public on June 6, 2014, Arista’s cloud networking solutions include the Extensible Operating System (EOS), network applications, Gigabit Ethernet switching, and routing platforms. The Spline campus network, utilizing Cognitive WiFi features, extends EOS across data centers and campuses, providing cloud networking solutions. Arista’s AI applications focus on network detection and response for threat detection and response across campus, data center, and IoT.

Lattice Semiconductor Corp (LSCC) — 145% Rating

Lattice Semiconductor Corp (LSCC), based in Hillsboro, Oregon, specializes in programmable logic products and related software. Employing 949 full-time staff, Lattice focuses on solving customer problems across various markets, offering low-power, small-size programmable logic products. LSCC’s sensAI stack provides FPGA-based Machine Learning/Artificial Intelligence solutions with flexibility, low power consumption, and pricing suitable for high-volume production.

NVIDIA (NVDA) — 144% Rating

NVIDIA, headquartered in Santa Clara, California, designs and manufactures computer graphics processors, chipsets, and multimedia software. With 26,196 full-time employees, NVIDIA’s segments include Compute & Networking and Graphics. AI applications include Gen AI in Telecommunications, AI-RAN for 5G and 6G, collaboration with Google on Gemma LLM, AI speech recognition, and medical imaging.

Manhattan Associates Inc (MANH) — 138% Rating

Manhattan Associates Inc is a supply chain commerce solutions developer operating globally. With three geographical segments, the company focuses on AI technology, cloud-native design, and machine learning for software solutions in its continuous innovation efforts.

Monolithic Power Systems Inc (MPWR) — 133% Rating

Monolithic Power Systems Inc, headquartered in Kirkland, Washington, designs and markets integrated power semiconductor solutions. Employing 3,247 full-time staff, the company provides solutions for AI sockets in today’s and next-generation devices, powering GPUs and accelerators used in advanced LLMs and AI models.

Qualys Inc (QLYS) — 132% Rating

Qualys Inc, based in Foster City, California, offers cloud security and compliance solutions. Employing 2,143 full-time professionals, Qualys leverages AI-informed cybersecurity for measuring, communicating, and eliminating cyber risk, providing AI-driven vulnerability management solutions.

Microsoft (MSFT) — 127% Rating

Microsoft Corp, headquartered in Redmond, Washington, is a leading software, services, and devices provider. With 221,000 full-time employees, Microsoft’s AI involvement includes Azure, its cloud platform, offering a suite of AI tools and services. Microsoft’s AI projects span telecommunication, language models, and medical imaging.

Applied Materials Inc (AMAT) — 126% Rating

Applied Materials Inc provides manufacturing equipment, services, and software to the semiconductor and display industries. Operating through three segments, Applied Materials utilizes AI-based techniques in inline statistical process control (SPC) for wafer measurements.

Rambus Inc (RMBS) — 120% Rating

Rambus Inc offers chips and IP for data center performance improvements. With solutions in DDR5 and DDR4 memory interface chipsets, Rambus contributes to next-generation computing with AI accelerators.

Adobe Inc (ADBE) — 120% Rating

Adobe Inc, a software company, provides a range of products and services for content creation and management. Adobe’s involvement in AI includes generative AI creative fill and AI video editing.

Cadence Design Systems Inc (CDNS) — 117% Rating

Cadence Design Systems Inc focuses on electronic system design. With AI as part of its EDA suite, Cadence offers a platform for specific projects and AI accelerators.

Palantir Technologies Inc (PLTR) — 113% Rating

Palantir Technologies Inc engages in data integration and software solutions development. With platforms like Palantir Gotham and Foundry, the company powers AI-assisted decision-making across various sectors.

Synopsys Inc (SNPS) — 112% Rating

Synopsys Inc provides software products and consulting services in the electronic design automation industry. With a Full-Stack AI-Driven EDA Suite, Synopsys contributes to transforming the world of electronic systems.

Palo Alto Networks Inc (PANW) — 111% Rating

Palo Alto Networks Inc offers network security solutions. As cyber threats become more sophisticated, AI plays a crucial role in enhancing cybersecurity, with Palo Alto Networks at the forefront.

Apple Inc (AAPL) — 109% Rating

Apple Inc designs and manufactures various consumer electronics. Apple’s AI involvement includes providing a marketplace for AI applications.

If you are interested in a more comprehensive analysis of these companies, please check our AI Stocks list of companies for 2024