I Asked ChatGPT for 10 AI Stocks to Buy. Here’s What It Recommended.
Since its release in November 2022, ChatGPT has demonstrated impressive prowess as a tool for research and organization. While the bot makes it clear that it cannot provide financial advice, it can generate lists of companies in a specific sec…
Since its release in November 2022, ChatGPT has demonstrated impressive prowess as a tool for research and organization. While the bot makes it clear that it cannot provide financial advice, it can generate lists of companies in a specific sector that it sees making headlines.
ChatGPT successfully provided me with a list of electric vehicle (EV) stocks to buy and generated a functional definition of non-fungible tokens (NFTs). This led to the question of how the chatbot would assess companies in its own space, the field of artificial intelligence (AI). I decided to test it by asking ChatGPT for a list of the best AI stocks to buy.
AI is a broad field that spans many industries from tech to transportation. And while recent data has indicated that Americans in general may not be too interested in it, that doesn’t mean investors aren’t. Wall Street is highly bullish on some of the sector’s leading names, and there’s plenty of reason why. As InvestorPlace contributor Josh Enomoto reports:
“From the economic angle, AI stocks present an extraordinarily compelling case. According to Grand View Research, the global AI market size reached a valuation of $136.55 billion in 2022. Experts there project that the sector will expand at a compound annual growth rate (CAGR) of 37.3% from 2023 to 2030. At the end of the forecasted period, sector revenue should come in at $1.81 trillion.”
With that in mind, I asked ChatGPT for its recommendations on the best AI stocks to buy in the market’s latest boom. After posing a few basic questions, it became clear that the chatbot has a better understanding of companies in the AI space, as should be expected. Here’s how it answered my AI stock questions.
The Best AI Stocks to Buy, According to ChatGPT
I began by asking ChatGPT a basic question: “What are the best artificial intelligence (AI) stocks to buy?” I expected it to respond with the same type of list I received after asking it for the best EV stocks. However, this time the chatbot provided a more detailed list and even an unprompted ranking:
What separates this list apart from others is the unprompted reasoning for each stock selection that ChatGPT provided. It’s also worth noting that Warren Buffett is betting big on four out of the five AI stocks listed, although his top five list includes Apple (NASDAQ:AAPL), not IBM.
As it turns out, though, the five listed by ChatGPT make up the first half of its list for the top 10 AI stocks to buy. The next five it lists are:
6. Tesla (NASDAQ:TSLA)
7. Baidu (NASDAQ:BIDU)
8. Intel (NASDAQ:INTC)
9. Alibaba (NYSE:BABA)
10. Salesforce (NYSE:CRM)
Other Noteworthy Names
Though ChatGPT didn’t provide the justification for these stocks, it likely would have if I had prompted it to. Wanting to see more, I asked the bot to name some other publicly traded companies doing important things in the AI space. However, the list that that prompt generated featured different stocks. Here is the stock group it listed upon request:
While there is some overlap, this list did not include any of the first five stocks that the bot originally named. However, the insights it provides are valuable. Companies like Qualcomm (NASDAQ:QCOM) and Splunk (NASDAQ:SPLK) don’t make as many headlines as their trendier AI peers. But that doesn’t mean they don’t warrant the same type of consideration. InvestorPlace has previously ranked both companies among the best AI stocks to buy, and it seems that ChatGPT has recognized their merit as well.
It is important to note that the chatbot’s data is limited and often not up to date past 2021. That may compromise ChatGPT’s ability to identify the best stocks in any sector. But when it comes to its own field, the chatbot seems to have substantial information. Therefore, it is likely to generate better suggestions.
On the date of publication, Samuel O’Brient did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Samuel O’Brient has been covering financial markets and analyzing economic policy for three-plus years. His areas of expertise involve electric vehicle (EV) stocks, green energy and NFTs. O’Brient loves helping everyone understand the complexities of economics. He is ranked in the top 15% of stock pickers on TipRanks.
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