In an age where technological prowess is more than just a buzzword, artificial intelligence (AI) and automation have moved to center stage in a myriad of businesses, much like a Broadway star getting ready for their soliloquy. The absence of an AI strategy in a company’s portfolio is equivalent to a Broadway performance without lights—it’s likely to go unnoticed and, worse, become obsolete.

Practically every industry is on the brink of being stirred and shaken, courtesy of the dynamic trio—AI, automation, and robotics. If you’ve had the pleasure of interacting with OpenAI’s DALL-E 2 AI image and art generator or the conversational skills of OpenAI’s ChatGPT and Google’s Bard AI chatbots, you’ve had a sneak peek into the remarkable advances that AI technology is making. It’s akin to watching the previews of an upcoming blockbuster movie, with the full feature yet to roll out.

Without further ado, let’s roll out the red carpet for Bank of America’s top ten AI stocks that are turning heads on Wall Street, listed here in no particular order because, in the world of AI, it’s all about collaboration, not competition:

Microsoft Corp. (ticker: MSFT)
Alphabet Inc. (GOOG, GOOGL)
Nvidia Corp. (NVDA)
Taiwan Semiconductor Manufacturing Co. Ltd. (TSM)
Meta Platforms Inc. (META)
ASML Holding NV (ASML)
SAP SE (SAP)
RELX PLC (RELX)
Baidu Inc. (BIDU)
Arista Networks Inc. (ANET)

Now, let’s dig a bit deeper, shall we? (No shovels needed!)

Microsoft Corp. (MSFT): In a move that’s akin to going steady in the AI world, Microsoft invested $1 billion in OpenAI in 2019, essentially hitching its wagon to OpenAI’s star. In January 2023, the software titan doubled down with another multiyear, multibillion-dollar investment in OpenAI, a partnership that resembles the marriage of a power couple. Analyst Brad Sills suggests that Microsoft is playing the AI game like a chess grandmaster, integrating ChatGPT and its own Prometheus AI model to level up Bing.

Alphabet Inc. (GOOGL): The parent of Google and YouTube is so deeply intertwined with AI that extracting it would be akin to removing caffeine from your morning coffee. From ad pricing to Gmail spam filters to launching its Bard AI chatbot, Alphabet is living its best AI life.

Nvidia Corp. (NVDA): If AI is the gold rush, Nvidia is the company selling the best pickaxes and shovels, providing the processing horsepower required to run sophisticated AI applications. The road to AI success requires more than just being a one-trick pony; it requires full-stack computing, scale, and experience across multiple tech fields—all of which Nvidia has in its arsenal.

Taiwan Semiconductor Manufacturing Co. Ltd. (TSM): TSMC is the gatekeeper for the production of the most advanced AI chips. It’s the bouncer at the hottest club, the enabler for whoever has the top AI chip designs, and the key to the treasure chest that is the AI chip market.

Meta Platforms Inc. (META): Meta Platforms, with Facebook, Instagram, and other platforms under its umbrella, is taking an all-in approach to AI, building an environment where everyone—from users to creators to companies—can contribute to its AI playground.

ASML Holding NV (ASML): ASML’s lithography tools are the secret sauce behind AI chip manufacturing. Without these tools, there would be no processors to train algorithms for AI and machine learning applications.

SAP SE (SAP): With its massive data pool, SAP is in a unique position to leverage AI to improve operational efficiency for its customers. Picture SAP as a custodian of a vast data lake, and AI as the high-powered motorboat zooming across it.

RELX PLC (RELX): RELX is using AI to spruce up its product offerings. Its new Lexis+ AI service is a souped-up version of its legal research platform, a growth driver turbocharged by AI.

Baidu Inc. (BIDU): With the recent launch of its large language model chatbot service, ERNIE, Baidu is making strides in the AI arena faster than a greyhound at a racetrack.

With this list, it’s clear that artificial intelligence has come of age, and these ten companies are at the forefront, ready to ride the wave. If AI was a high school student, it would certainly be the head cheerleader, star quarterback, and valedictorian all rolled into one!

Disclaimer: The content provided in this article is for informational purposes only and should not be considered financial advice. Always conduct thorough research and consult with a qualified professional before making investment decisions.