AI Stocks: Alphabet Tops Pick with Broad AI Portfolio
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If I could only own one AI stock, I'd pick Alphabet (GOOG, GOOGL) because it has multiple AI investments across business segments like advertising, cloud computing, and generative AI.
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Alphabet declared itself an "AI-first" company years ago and has delivered on that vision, with leading generative AI models like Bard and Gemini.
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Its Google Cloud platform stands to benefit from the AI boom as businesses need more computing power and data storage.
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Alphabet recently reorganized its ads division to increase AI implementation, which could drive more revenue.
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Despite Alphabet's stock rallying recently, its valuation remains reasonable compared to historical averages and growth expectations.