Artificial intelligence (AI) has become an indispensable tool in our daily lives, revolutionizing various aspects of society. For investors looking to make their portfolios shine, three AI stocks show great promise.
KLA (NASDAQ:KLAC), a leading semiconductor solutions provider, has not only demonstrated strong financial performance but also a commitment to making a positive impact. In the first quarter of fiscal 2024, the company reported total revenue of $2.4 billion, surpassing its own expectations. Furthermore, the KLA Foundation recently awarded $1 million in grants to nonprofit organizations, focusing on expanding access to education and improving educational systems for underrepresented students. The company’s dedication to philanthropy reflects its desire for meaningful change in the communities it serves. Additionally, KLA drives innovation and talent development through initiatives like the Semiconductor Talent and Automotive Research project, a testament to its global vision.
Baidu (NASDAQ:BIDU), a leader in the AI sector, continues to impress investors with its cutting-edge technology and shareholder initiatives. In October 2023, the company introduced ERNIE 4.0, an advanced technology accessible through ERNIE Bot and Cloud API, solidifying its position at the forefront of AI advancements. Baidu’s commitment to responsible AI practices is evident in the establishment of its Technology Ethics Committee, ensuring that its technology benefits society ethically. Beyond virtual endeavors, Baidu’s Apollo Go autonomous transportation service provided 821,000 rides in Q3 2023, reflecting a remarkable 73% year-on-year increase. Additionally, with 663 million monthly active users on the Baidu app in September 2023, the company has a strong presence in the competitive mobile ecosystem.
RELX Plc (NYSE:RELX), a global player in information-based analytics and decision tools, has exhibited steady growth across its various business segments. In the first nine months of 2023, the company experienced an impressive 8% revenue growth. The business services segment, constituting 35% of revenue, grew by 8%, driven by its expertise in analytics and decision tools. In the scientific, technical, and medical sector, which accounts for 33% of revenues, RELX achieved a 4% growth by focusing on the fastest growing segments within the division. Additionally, the legal sector, contributing 20% of revenue, saw 6% growth due to the success of its legal analytics platform, Lexis+. The exhibits segment stood out with a remarkable 32% growth, surpassing pre-pandemic levels. RELX’s innovative approach to digital tools has proven successful in capturing market demand.
These three AI stocks offer investors the opportunity to participate in the technological advancements shaping our future. As AI becomes increasingly integral to our daily lives, investing in companies at the forefront of this technology presents a bright opportunity for portfolios to shine.
