Ten AI Stocks Ranking by Yearly Return in 2023
Companies in the AI sector that are publicly traded have witnessed their stock prices skyrocket as the AI buzz grows. Their climb to prominence in the AI arena can be linked to several key factors that have driven them forward. These firms hold a competitive edge by effectively meeting niche market needs and developing innovative products and solutions.
Take Nvidia for example; it stands as the top producer of computer processors, essential for creating AI applications that boost productivity across various sectors, whereas an American semiconductor competitor Advanced Micro Devices is also striving to enter this arena. These applications have been integrated across numerous fields, automating intricate tasks and enhancing operational efficiency.
From creating chips to protecting networks, as well as exploring new drug innovations and providing financial services, the top 10 AI performers highlighted here have recorded exceptional financial gains due, in part, to the practical benefits effectiveness of their AI-driven tools. By offering AI-enhanced solutions across diverse sectors, these ten firms have solidified their roles as industry leaders , ensuring sustained growth not only in the realm of artificial intelligence but also in their stock prices.
Nvidia (NVDA)
Nvidia, while widely recognized for its prowess in graphics processing units that empower AI models to process large datasets and complex algorithms, is also heavily investing in AI applications to bolster the ongoing growth and evolution of the field.
Recently, the company invested $50 million in Recursion, a publicly traded biotech firm, to expedite the development of AI-powered drug discovery methods. In June, Nvidia also co-led a $141 million Series C funding round for Inflection AI, which significantly boosted its stock valuation, leading to a 161% return over the past year as of this writing. $1.3 billion funding round and invested in Runway AI’s Upstart represents a cutting-edge AI lending platform that collaborates with banks and credit unions to provide consumer loans that take into account non-traditional factors. This advanced AI system evaluates enormous datasets, such as traditional credit scores alongside unique metrics (including educational background, study focus, grades, standardized test performance, and employment history), to gauge borrower reliability. This approach aims to uncover creditworthy individuals who might otherwise slip through the cracks of conventional credit assessments, thereby broadening access to credit for many more consumers. strong Q1 earnings As the AI hype continues, Upstart’s stock has skyrocketed by 317% since this year began and has risen over 78% within the last month. As of now, its yearly return exceeds 118%. Nonetheless, analysts maintain a cautious outlook
Analysts’ rating and price target:
- Barclays: $600/share, Overweight
- Wolfe Research: $570/share, Buy
Upstart Holdings Inc (UPST)
on the company’s stock, setting a price target of around $18.85.
C3.ai offers a variety of AI solutions across customer service, finance, and manufacturing, with a mission to enhance business operations through automation, informed decision-making, and improved customer relations. The company's partnerships include predicting a 65.21% downside , Microsoft, and AWS, while the U.S. Missile Defense Agency is among its clientele.
Analysts’ rating and price target:
- n/a
C3.ai (AI)
Despite C3.ai’s forecasted revenue for fiscal year 2024, estimated to fall between $295 and $320 million, analysts remain skeptical. Data sourced from S&P Global Market Intelligence suggests expectations were closer to $321 million for the yearly total. Since the start of 2023, C3.ai's stock has seen an extraordinary rise of 243%, and its one-year return is now 104% as of this writing. Recursion Pharmaceuticals, primarily a biotech entity, is working on AI foundational models tailored for biology and chemistry fields. In May, the company acquired Valence, an institution specializing in AI-led deep learning, as well as Cyclica, a platform that enables AI-driven digital chemistry. These acquisitions are part of its strategy to democratize access to large-scale models that could profoundly influence drug discovery discussions. On July 12, Recursion announced a partnership with Google and also received a $50 million investment from the semiconductor giant, sending RXRX's stock to a 52-week peak at $14.99. Over the past year, the stock price has increased by more than 86%.
However, Wall Street Renowned for its cutting-edge data analytics and AI-based solutions, Palantir Technologies serves a wide range of sectors, such as government agencies, finance, healthcare, and cybersecurity.
Analysts’ rating and price target:
- JMP Securities: $40/share, Outperform
Recursion Pharmaceuticals Inc (RXRX)
, its platform “Foundry” enables diverse organizations to gather, analyze, and visualize large and complex datasets from various sources. It empowers data-driven decision-making and offers actionable insights. drug discovery A standout feature of Palantir's services is its AI capabilities, which enhance the overall
data analysis procedure and improve the accuracy of predictive models. Nvidia Moreover, Palantir operationalizes AI and machine learning technologies by integrating them on a reliable data foundation. These models undergo constant refinement fed by user insights and decisions, resulting in a cycle of continuous enhancement. The company's platforms underpin comprehensive MLOps, transitioning AI and ML initiatives from the developmental phase to practical applications. Over the last year, the stock price has risen by over 67%.
Analysts’ rating and price target:
- Needham: $17/share, Buy
Palantir Technologies (PLTR)
Highly regarded for its extensive array of enterprise software solutions, Oracle has been embedding AI functionalities into its offerings to furnish businesses with data-driven insights and smart automation strategies. The company’s suite of AI applications spans various services, including marketing automation, customer experience analytics, supply chain oversight, and human resources management. Palantir’s flagship platform A flagship product of Oracle is the “Oracle AI Platform,” a thorough solution facilitating the creation and deployment of AI models across sectors, enabling companies to refine decision-making, forecast future trends, and automate routine jobs. Oracle’s AI-powered platforms, like “Oracle Adaptive Intelligent Apps,” help organizations provide tailored customer experiences, enhance sales and marketing strategies, and optimize operational efficiencies. Recently, the company
to expand generative AI services for businesses and is integrating this into its human resources offerings. Over the past year, Oracle's stock has appreciated by more than 57%. Established in 1988 and based in San Jose, California, Cadence Design Systems plays a pivotal role in the semiconductor space. The company provides a comprehensive suite of tools and services that encompass various stages of the design spectrum, ensuring that semiconductor vendors and designers efficiently bring innovative electronics to market.
Analysts’ rating and price target:
- BofA: $18/share, Buy
Oracle Corp (ORCL)
The firm supplies sophisticated memory interfaces crucial for AI operations in servers, along with Tensilica® DSPs and processors that enhance audio, vision, and on-device AI processing. Its stock has appreciated by 44.85% in the last 12 months.
Palo Alto Networks is a distinguished cybersecurity firm situated in Santa Clara, California, offering an extensive selection of state-of-the-art security solutions, including its best-known partnered with Cohere platform, which safeguards cloud applications and data. Through its cloud security automation, Palo Alto Networks delivers real-time insights, threat detection, and automated threat response capabilities. adding generative AI capabilities The firm employs machine learning techniques to analyze vast datasets, identifying patterns that signal malicious activities, thereby providing defense against evolved cyber threats leveraging AI and machine learning technologies. The company has registered an annual return of 42.79% over the past year.
Analysts’ rating and price target:
- Goldman Sachs: $120/share, Neutral
- Evercore ISI: $125/share, In-line
Cadence Design Systems (CDNS)
AMD is celebrated for its innovative CPU and GPU solutions that power an extensive range of computing devices, from high-performance computers to
and data centers. Lately, AMD’s GPUs have gained increasing recognition in the AI sector, especially in light of the growing demand for chips.
Analysts’ rating and price target:
- Rosenblatt: $250/share, Buy
- Stifel: $300/share, Buy
Palo Alto Networks (PANW)
It has launched new CPU and AI accelerator technologies in a quest to rival Nvidia, alongside unveiling a software ecosystem comprised of tools aimed at facilitating data center acceleration. Over the past year, AMD’s stock has appreciated by 25.17%. cloud security automation In the realm of data storage, networking, and connectivity, Marvell underpins the digital backbone of multiple industries. The company’s offerings include a wide spectrum of products, such as enterprise storage solutions, networking equipment, automotive Ethernet technologies, and wireless connectivity chips.
Marvell's technological contributions significantly impact various domains, embracing cloud computing, AI, automotive applications, and the advancement of 5G wireless infrastructure. The company’s expertise in storage and networking enables efficient data transfer and processing, vital for today’s data-intensive applications and AI deployments. Its stock has increased by 23.92% over the previous year.
Analysts’ rating and price target:
- KeyBanc: $285/share, Overweight
- Oppenheimer: $290/share, Outperform
- JMP Securities: $300/share, Outperform
Advanced Micro Devices (AMD)
A Quick Reference Guide to the Top 10 AI Stock Performers Based on Annual Returns gaming consoles The information shared here is drawn from available data at the time of writing and is subject to adjustment. It is essential to conduct thorough research and seek advice from a qualified financial advisor prior to making any investment choices.
In June, AMD unveiled What criteria are utilized to determine the
Analysts’ rating and price target:
- Wolfe Research: $150/share, Outperform
- BofA Securities: $130/share, Neutral
Marvell Technology (MRVL)
With a strong focus on providing innovative solutions The Top 10 AI Company Stocks are chosen based on their yearly financial performance and stock return metrics from the past twelve months. These companies are analyzed for their annual stock value gains, taking into consideration factors such as revenue escalation, profitability, market value, and overall success within the AI sector. company’s portfolio Top 10 AI Stocks with the Highest Annual Returns in 2023 - Metaverse Post
Companies in the AI sector that are publicly listed have experienced a remarkable surge in their stock prices as the excitement around AI continues to build. The remarkable success of these firms can be attributed to several critical factors that have propelled them to the forefront of the AI landscape.
Analysts’ rating and price target:
- Stifel: $80/share, Buy
- Wolfe Research: $80/share, Outperform
- Keybanc: $80/share, Buy
Top 10 Stocks of AI Companies with the Best Annual Returns in 2023
| Rank | Company | Stock Symbol | 1-Year Return | Price Target | Rating |
| 1 | Nvidia | NVDA | 161% | $600/share | Overweight |
| 2 | Upstart Holdings Inc | UPST | 117% | $18.85 | n/a |
| 3 | C3.ai | AI | 104% | $40/share | Outperform |
| 4 | Recursion Pharmeceuticals | RXRX | 86% | $17/share | Buy |
| 5 | Palantir Technologies | PLTR | 67% | $18/share | Buy |
| 6 | Oracle Corp | ORCL | 57% | $120/share | Neutral |
| 7 | Cadence Design Systems | CDNS | 42.14% | $250/share | Buy |
| 8 | Palo Alto Networks | PANW | 42.79% | $300/share | Outperform |
| 9 | Advanced Micro Devices | AMD | 25.17% | $150/share | Outperform |
| 10 | Marvell Technology | MRVL | 23.92% | $80/share | Buy |
FAQs
Conclusion
Oracle, recognized for its extensive suite of enterprise software solutions, has been embedding AI functionalities into its services, empowering businesses to leverage data for insights and refined automation. Their AI portfolio spans an array of applications from customer engagement and marketing automation to supply chain efficiency and workforce management. A standout offering, the 'Oracle AI Platform,' provides a holistic approach for developing and deploying AI models across various industries, helping organizations enhance their decision-making, anticipate trends, and automate routine functions. Furthermore, Oracle is expanding its AI services for enterprises and is enhancing its HR software capabilities. Over the past year, Oracle's stock has grown by more than 57%.
Cadence Design Systems, established in 1988 and seated in San Jose, California, plays a pivotal role in the semiconductor landscape. The company's expansive array of tools and services supports all stages of the design cycle, from conceptualization to final production, enabling efficient market entry for semiconductor developers. They supply the advanced memory interfaces essential for AI applications running on servers and offer Tensilica® DSPs and processors optimized for audio, visual, and edge AI processing. In the past year, their stock value has experienced a 44.85% boost. machine learning Palo Alto Networks, a preeminent name in cybersecurity based in Santa Clara, California, provides a broad selection of innovative security solutions, including its security platform tailored for cloud applications and data protection. The automation provided by Palo Alto’s cloud security allows for real-time monitoring, threat identification, and automated response capabilities. Utilizing machine learning, the company analyzes large datasets, spotting patterns that indicate potential threats, particularly those that exploit AI and machine learning technologies. The stock of Palo Alto Networks has achieved a yearly return of 42.79%.
AMD has garnered recognition for its pioneering CPU and GPU technologies powering many computing devices, from high-end personal computers to expansive data centers. Recently, AMD's GPUs have gained traction as favored tools for AI endeavors, especially given the growing demand for advanced chip technologies. The company is actively promoting its CPU and AI accelerator products to rival Nvidia. Moreover, AMD has rolled out a software ecosystem designed specifically for data center accelerators. In the past year, AMD's stock has experienced an increase of 25.17%. AI-driven technologies Marvell plays a crucial role by powering the digital infrastructure necessary for various industries, focusing on data storage, networking, and connectivity. Their offerings span a wide range of products, encompassing enterprise storage solutions, networking technologies, automotive Ethernet innovations, and wireless connectivity chips.
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In line with the Trust Project guidelines Please be aware that the details shared are based on the available information at the time of writing and can change. It's always a good idea to conduct thorough research and consult with a professional financial advisor before making any investment decisions.
