The interest in artificial intelligence (AI) has been there for several years, but in November 2022, ChatGPT sparked a revolution in AI that opened numerous possibilities and use cases. ChatGPT, an AI chatbot developed by Open AI, with its versatility, intelligence, and ability to have human-like conversations, contributes to its vast popularity and reach.

ChatGPT had amassed approximately 1 million users in five days and 100 monthly active users just two months into its launch to become the fasting-growing application in history, according to a UBS study. With the viral success of ChatGPT, AI has become a new buzzword on Wall Street, attracting massive investor interest.

Enterprise application software stock C3.ai, Inc. (AI - Get Rating) has been riding on the AI wave and gained 111.6% over the past six months and 279.4% year-to-date to close the last trading session at $42.

C3.ai produces enterprise AI software used by a wide range of industries, such as transportation, healthcare, and manufacturing. On May 30, the company announced that its C3 Generative AI product is available via Amazon’s AWS marketplace. It is already available via Google’s Cloud Marketplace.

Despite AI stock’s impressive price performance, the company’s fundamentals tell a different story. While the software developer’s fourth-quarter results beat analysts’ revenue and earnings estimates, AI AI - Get Rating)

Unfortunately, the odds of AI outperforming in the weeks and months ahead are greatly compromised. However, there are many stocks in the Software – SAAS industry with impressive POWR Ratings. So, you may consider these three A-rated (Strong Buy) or B-rated (Buy) stocks instead:

Splunk Inc. (SPLK - Get Rating)

DocuSign Inc. (DOCU - Get Rating)

Vimeo Inc. (VMEO - Get Rating)

What To Do Next?

Get your hands on this special report with 3 low priced companies with tremendous upside potential even in today’s volatile markets:

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AI shares were trading at $43.11 per share on Tuesday morning, up $1.11 (+2.64%). Year-to-date, AI has gained 285.25%, versus a 20.16% rise in the benchmark S&P 500 index during the same period.

About the Author: Mangeet Kaur Bouns

Mangeet’s keen interest in the stock market led her to become an investment researcher and financial journalist. Using her fundamental approach to analyzing stocks, Mangeet’s looks to help retail investors understand the underlying factors before making investment decisions. More...

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