The Nasdaq Composite surged 43% in 2023, and one of the big investing themes driving investor enthusiasm was the booming demand for artificial intelligence (AI) technology. The IDC projects spending on AI software to grow 31% per year and reach $251 billion annually by 2027.

The best thing about the AI opportunity is that you don't have to make risky investments to do well. Microsoft (NASDAQ: MSFT) and Google parent (NASDAQ: GOOG) (NASDAQ: GOOGL) are tech juggernauts that have been investing in AI for years and are already seeing the fruits of those efforts. Both stocks saw their prices more than double over the last five years and beat the market again in 2023.

Let's compare these tech leaders to see which is the best AI stock to buy right now.

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Source Fool.com