If I Had to Allocate $1,000 Between 3 AI Stocks, Here's How I'd Do It
Investing in artificial intelligence (AI) can be tricky as the field is still in its infancy. However, that doesn't mean investors should ignore AI completely. When exploring developing fields, a smart investment strategy is a basket approach, where you invest in a theme by purchasing multiple companies.
AI is a broad field that you can invest in via many different avenues. You might focus on companies that provide the hardware to create AI programs, collect data to input into AI, supply programming toolkits for AI, or that utilize AI as part of their offering. If I had $1,000 to establish a new basket of AI stocks, I'd buy the following three companies, which together cover those four areas I just mentioned.
Although Alphabet (NASDAQ: GOOGL) has gotten backlash for being late to the chatbot game, it's still one of the industry's AI leaders. It has a massive toolkit for AI developers, including machine learning for apps, datasets for feeding AI programs, and Google Cloud infrastructure that companies can rent to utilize Alphabet's cutting-edge computing power.
Source Fool.com
