5 Best AI American Stocks to Buy Now

3. Alphabet Inc. (NASDAQ:GOOGL)

Potential upside: 9.41%

Number of Hedge Fund Holders: 288

Alphabet Inc. (NASDAQ:GOOGL) is one of the best American AI stocks to buy now. On May 5, Bloomberg reported that Alphabet raised over $17 billion by selling Euro-denominated bonds and its first Canadian-dollar notes to fund investments in artificial intelligence.

According to the report, the company priced €9 billion ($10.5 billion) in euro bonds, citing people with knowledge of the matter. It added that the sale in six parts drew more than €18.3 billion of bids. Additionally, the Google parent also raised C$8.5 billion ($6.2 billion) from a four-part bond sale in Canadian dollars.

Last week, Alphabet reported that consolidated revenues surged 22% to $109.9 billion, the company’s 11th consecutive quarter of double-digit growth. During the period, revenues from Google Services jumped 16% to $89.6 billion, mainly due to a 19% growth in Google Search & other, 19% in Google subscriptions, platforms, and devices, and 11% in YouTube ads.

Based on 73 analyst ratings compiled by CNN, 86% rated Alphabet’s shares Buy, while 14% rated them Hold. The stock has an average price target of $425, a 9.41% upside from the current price of $388.43.

Alphabet Inc. (NASDAQ:GOOGL) is a holding company that engages in software, health care, transportation, and other technologies. It owns several notable platforms, including Google Search, Google Maps, Gmail, and YouTube. The company is also known for pioneering work and research in cloud computing, quantum computing, and artificial intelligence.