At different times in recent years, the crypto market has been one of the most profitable and volatile places to invest. For example, since 2018, the value of the most well-known cryptocurrency, Bitcoinit has experienced highs of $64,000 and lows of $5,100 and is currently sitting around $30,000.
And despite the more than 20,000 different cryptocurrencies on the market, none have delivered the long-term growth stability found in the tech industry.
Tech companies are in a near constant state of innovation and development, which can almost guarantee steady profits for many years to come. In 2023, all eyes have been on the boom artificial intelligence (IA), which is projected to expand at a CAGR of 37% through 2030. As a result, IA stocks are increasingly attractive investments this year and could offer more reliable returns than the cryptocurrency market.
Here are three AI stocks with more potential than any cryptocurrency.
1.AMD
Actions of advanced micro devices (AMD 0.64%) they have skyrocketed more than 600% in the last five years, almost twice the growth of Bitcoin. The company has benefited greatly from technological advances that have increased the demand for high-powered chips, giving it strong positions in multiple markets.
Wall Street has become particularly bullish on AMD in 2023, increasing its shares by about 80% year-to-date, almost entirely based on its insights into AI.
He semiconductor company not the first to get into AI, with a fellow chipmaker nvidia having a head start as the leading provider of graphics processing units (GPUs) for OpenAI ChatGPT. But AMD has massive support from many of Nvidia's customers and other tech companies who hope that more competition will drive down the cost of AI chips.
As a result, the cloud giant Microsoft is bolstering AMD's expansion of AI chips by providing engineering and financial resources. The partnership is helping AMD take the fight to Nvidia, with the company releasing its most powerful GPU to date in mid-June.
It remains to be seen which companies the new chip will attract as customers. However, AMD's long history of success in the chip industry and the strong leadership of CEO Lisa Su suggest that it could soon match Nvidia's AI offerings and benefit substantially from the growing industry.
2. apple
Apple might not be the first name that comes to mind when considering AI companies, but his dominance in consumer technology puts him in a unique position as the likely main driver of public adoption of the technology. Apple is using AI to power many of its software features across its entire product line.
Companies like Microsoft and Alphabet they have spoken frequently about their AI efforts, while Apple has taken a quieter approach and instead focused on impressing with AI-enabled software updates.
In June, it announced a revamp of the iPhone's autocorrect, which uses a language model similar to ChatGPT's to learn a user's texting style. Meanwhile, AirPod Pros will receive an AI update that automatically turns noise cancellation off when the user engages in conversation.
Apple has leading market shares across its entire product line, including smartphones, headsets, tablets, and smartwatches. As AI develops, it will likely continue to add new features to your devices, benefiting from increased sales as they attract buyers.
Apple, which is up about 300% since 2018, has more potential than any cryptocurrency and is much more reliable.
3. Amazon
Amazon (AMZN 0.03%) it apparently lagged behind its biggest competitor, Microsoft, in AI, but it has made substantial strides in the industry this year. Meanwhile, its leading market share in cloud computing with Amazon Web Services (AWS) could be a significant advantage in the long run.
Rather than try to compete with ChatGPT and Alphabet's similar service Bard, Amazon aims to fill other generative AI needs. In early July, the company introduced two new AI tools to AWS users.
The first is called Bedrock, which uses language models to help clients create custom chatbots, image-generating services, and content like entire ad campaigns. AWS also introduced CodeWhisperer, a tool that makes software development more efficient by producing code.
Also, Amazon is one of the few cloud companies get into hardware development. It's producing AI chips that CEO Andy Jassy says will be "much better price-performance than you'll find anywhere else." As the home of the world's largest cloud platform, its brand recognition could eventually put it on an equal footing with Nvidia and AMD.
Amazon has become a household name with the resources to expand and succeed in almost any market. Its growing foray into AI and other businesses makes it a better investment than any cryptocurrency.
Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. danny cook He has no position in any of the mentioned stocks. The Motley Fool has positions and recommends Advanced Micro Devices, Alphabet, Amazon.com, Apple, Bitcoin, Microsoft, and Nvidia. The Motley Fool has a disclosure policy.
