Machine learning, which allows computers to mimic the way humans learn and adapt, is nothing new. The term was first coined by computer scientist Arthur Samuel, who created the first machine learning system in 1959. Samuel Checkers Playing Program. Machine learning is now much more advanced and more than just checkers, creating a huge opportunity for machine learning stocks.
Currently, machine learning involves presenting data to machines, which, like humans, can perform facial recognition, product recommendations, financial accuracy, predictive analytics, medical diagnostics, voice recognition, and more. It can learn and even make predictions. Netflix (NASDAQ:NFLX) For example, we use machine learning to provide you with program recommendations.
Better yet, “As these technologies continue to advance and mature, they are expected to have a transformative impact across a variety of industries, shaping the way businesses operate, make decisions, and deliver value to customers.” .” Added Grand View Research.
Additionally, machine learning could be worth $528.1 billion by 2030, up from $204.3 billion today. According to the Bureau of Statistics. All of this could create huge opportunities for machine learning stocks like the next He Three.
Advanced Micro Devices (AMD)
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Advanced Micro Devices (NASDAQ:AMD) is one of the most explosive tech stocks on the market. Since January 1st, it has raced from a low of about $137 to $178.29, and we could easily see even higher highs. All thanks to artificial intelligence (A.I.) and machine learning (M.L.).
For one, AMD’s RDNA 3 GPU architecture “includes upgraded machine learning accelerators that are more than twice as fast as previous generation technology.” as pointed out by Silicon ANGLE.
Second, the company recognizes the huge demand for AI chips. According to Barclaysjust raised its price target on AMD from $120 to $200, saying AMD could generate $4 billion in AI chip sales this year alone. TD Cowen The target price has also been raised. AMD has increased from $130 to $185 and has an Outperform rating.Then Wedbush Repeated our outperformance rating against AMD, the target price is $200.new street research are also piled upthe rating is “buy” and the price target is $215.
Machine learning stocks: Palantir Technologies (PLTR)
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Another place to buy machine learning stocks is Palantir Technologies (New York Stock Exchange:PLTR) designs programs that rely on machine learning to help customers make better decisions and predictions.
of US Department of DefenseFor example, we gave PLTR a $250 million contact to conduct AI/ML research for the U.S. Army. All of this goes to show that interest in AI and ML in the defense industry has exploded in recent years, with military officials praising their potential battlefield applications and industry matching that energy. Masu.” as pointed out by C4ISRNET.
PLTR also partnered with the University of Colorado Anschutz Medical Campus to establish a data linkage and collection center that is part of the National Institutes of Health. all of us research program. All to better understand the causes of health and disease. According to the press release.
Earnings weren’t too bad either. In the most recent quarter, the company’s revenue was $558 million, an increase of 17% over the same period last year. It also exceeded the guidance range of $553 million to $557 million and the street request of $556 million. Adjusted operating income was $163 million, above the guidance range of $135 million to $139 million. Adjusted earnings were 7 cents per share, 1 cent more than expected.
Global X Artificial Intelligence & Technology ETF (AIQ)
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Alternatively, if you want diversification in AI and machine learning stocks, buying an exchange-traded fund (ETF) is always a good choice.
As interest in artificial intelligence and machine learning stocks explodes, Global X Artificial Intelligence & Technology ETF (NASDAQ:A.I.Q.) has risen from about $25.50 in late 2023 to a recent high of $31.90. But this is just the beginning. AI/ML is only going to grow, and the AIQ ETF could easily double, if not triple, in the next few years. This is especially true for holdings such as: Nvidia (NASDAQ:NVDA) to burst.
With an expense ratio of 0.68%, the ETF invests in companies that benefit from the “development and use of AI technology in their products and services” and companies that provide hardware that facilitates the use of AI for big data analysis. doing. ” According to GlobalXETFs.com.
On the date of publication, Ian Cooper did not have (directly or indirectly) any positions in the securities mentioned. The opinions expressed in this article are those of the writer and are subject to InvestorPlace.com Publishing Guidelines..