Tech Titans of Tomorrow: Here Are the Top AI Companies to Invest in for 2023

Key takeaways

• New AI companies are emerging onto the scene at a dizzying pace
• Aside from the big players like Nvidia, Microsoft and Google, there are smaller stocks with the potential for uplift
• C3.ai, ASML and UiPath are three examples of AI stocks to invest in

The AI tech rally this year has been the stuff of legend. We’ve seen investors pouring money into the industry, with companies like Nvidia, Microsoft and Google reaping the rewards as they unveil new AI announcements.

But aside from the big names, which other AI-focused companies should you consider putting your hard-earned cash in? We’ve compiled a selection of businesses that might work for your investing strategy — keep reading.

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Top AI companies to consider investing in

While there are plenty of AI start-ups that aren’t public — OpenAI being the most famous and high-profile example — there are still plenty of ways to get involved with AI. Here are some picks for 2023.

C3.ai

AI software developer C3.ai has had somewhat of a rocky outlook with its financials in the last few months, only meeting analyst expectations on profit and revenue. However, that hasn’t stopped the share price from soaring by 266% in 2023.

Offering customized software for AI applications for clients including Alphabet and Amazon, C3.ai seems well-positioned to continue its upward trajectory — because many people haven’t even heard about this stock yet. It’s one to consider before it hits the mainstream consciousness.

ASML

Dutch chip equipment manufacturer is the perfect example of indirect exposure to the AI industry. Supplying semiconductor parts for the likes of Nvidia, ASML also has a card up its sleeve: its extreme ultraviolet lithography machines, which are essential for high-power AI computing chips.

The stock has gained nearly 38% since the start of the year and its second quarter earnings reported a 37.6% rise in profit — not too shabby.

UiPath

Specializing in robotic process automation (RPA), UiPath is a sleeper AI company with plenty of growth potential. Its latest quarterly beat may not inspire confidence — its operating loss came in at $46.4 million — but its revenue increased 18%.

UiPath is priced cheaply compared to other AI companies, with the share price currently at around $18. But that’s already grown 48% since the start of the year, so if the company can reach profitability, investors could see a tidy uplift from its current price.

The bottom line

The AI market is moving at an incredible pace, with more and more companies surging forwards into the spotlight. These are just some of the AI businesses we think are worth a look at — but always do your research before taking the plunge.

Another option is going meta and using AI to help you invest in AI companies. That’s exactly what happens with Q.ai’s Emerging Tech Kit, using AI to do the number-crunching, predict the winners in tech stocks and ETFs, and shuffle the Kit’s holdings to help you stay on the ball.

Download Q.ai today for access to AI-powered investment strategies.