3 Genius Artificial Intelligence (AI) Stocks to Buy Right Now

The artificial intelligence (AI) sector is a great place to find investments right now. There are several great long-term opportunities available, and I think right now is the perfect time to pounce on them.

Three stocks that I think make for genius buys are Nvidia (NASDAQ: NVDA), Amazon (NASDAQ: AMZN), and Micron (NASDAQ: MU). All three come from different parts of the industry, and could deliver market-crushing returns during the next few years.

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1. Nvidia

Nvidia is the king of AI investing, and for a good reason. Its graphics processing units (GPUs) and the products that support them are deployed in data centers around the world and are the primary choice for many AI businesses to use for training and inference. This top position has allowed Nvidia to post quarter after quarter of impressive results, and it doesn't look to be slowing down anytime soon. During Q1, it delivered 85% revenue growth, and in Q2, Wall Street expects nearly 100% growth.

To sweeten the deal, Nvidia's stock really isn't that expensive, trading for just 21.7 times forward earnings.

NVDA PE Ratio (Forward) data by YCharts

Deals like this don't last forever, and with AI hyperscalers continuing to ramp up spending, I think it bodes well for Nvidia's future.

2. Amazon

Amazon usually isn't the first stock that comes to mind when discussing artificial intelligence, but I think it should be near the top. Amazon is a big spender on AI, and it is planning on $220 billion in data center capital expenditures this year. Amazon is seeing huge demand for its computing resources, which will, in turn, be used to train and run AI workloads.

In Q2, Amazon Web Services' revenue skyrocketed 37%, easily outperforming the 31% growth Wall Street analysts expected from Amazon. This led to the stock spiking the following day, but I'm not concerned about a one-day pop.

Instead, I'm focused on the long term, and Amazon's huge data center capital expenditures will continue to boost AWS's growth rate for the foreseeable future. This will translate into soaring profit for Amazon. AI workloads will keep boosting cloud computing, and investing in Amazon now gives you the best chance to capitalize on that over the long term.

3. Micron

Originally, Amazon was planning for $200 billion in data center capital expenditures this year. However, it had to bump that to $220 billion due to soaring memory chip prices. That's because demand for memory chips far outpaces supply, causing prices to skyrocket.

Micron is a memory chip fabricator and has been one of the biggest beneficiaries of surging memory prices. Its revenue and earnings have spiked in recent quarters, and there are no signs of this ending in the near future.

MU Revenue (Quarterly YoY Growth) data by YCharts

As a result, Micron remains one of the top growth stories in the market, as it could be a long time before memory chip prices come down. Micron's management team told investors that the company expects memory chip tightness to persist beyond 2027. Although that sounds like a concrete prediction, it's really just the company saying that in the near- to mid-term, there is no slowdown in sight due to major AI demand. That should translate into several years of strong growth for Micron, and makes it worth considering as an investment, as the growth it's putting up is second to none.

A wide variety of companies are benefiting from the AI boom. I think these three stocks give investors a great cross-section of the AI investing landscape, and I'm confident that this trio will easily outperform the broader market during the next few years.

Keithen Drury has positions in Amazon and Nvidia. The Motley Fool has positions in and recommends Amazon, Micron Technology, and Nvidia. The Motley Fool has a disclosure policy.