3 AI Stocks Shaping the Future of Technology to Buy Now, According to Wall Street

Key Points

No company plays a more critical role in AI than Nvidia.

Broadcom's technology lies at the center of developing custom AI accelerators.

Google's parent, Alphabet, is an AI pioneer with broad Wall Street support.

• 10 stocks we like better than Alphabet ›

What are the greatest technological innovations of all time? The wheel certainly makes the list. So do the printing press, the light bulb, and the internet. We're living in an era where another finalist is being adopted rapidly. I'm referring, of course, to artificial intelligence (AI).

Many of the top game-changing innovations enabled early investors to build fortunes. AI is in that group. And Wall Street believes that three AI stocks shaping the future of technology are great buys right now.

Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue »

1. Nvidia

No company plays a more critical role in AI than Nvidia (NASDAQ: NVDA). The company's GPUs remain the most sought-after chips for powering AI models. Nvidia's CUDA (Compute Unified Device Architecture) is the standard software that enables GPU use for applications beyond graphics rendering. Unsurprisingly, Nvidia ranks as the world's largest tech company -- and the world's largest company overall -- by market cap.

Plenty of rivals are angling to knock Nvidia off its perch. However, that will be easier said than done. Nvidia continues to invest heavily in research and development. It rolls out new, more powerful chips every year, with its Vera Rubin architecture launching in 2026.

Wall Street remains highly bullish about Nvidia. Of the 59 analysts surveyed by S&P Global (NYSE: SPGI) in April, 56 rated the stock as a "buy" or "strong buy." The consensus 12-month price target for the stock reflects a potential upside of around 24%.

But with Nvidia trading at an all-time high, is the stock really a great choice for investors? I think so. The company's growth prospects make its valuation reasonable despite the stock's tremendous gains over the past few years.

2. Broadcom

Broadcom (NASDAQ: AVGO) could present the greatest threat to Nvidia's AI chip dominance. The company's Application-Specific Integrated Circuits (ASICs) are used to develop custom AI accelerators to help reduce their dependence on Nvidia's GPUs.

In the first quarter of 2026, Broadcom's revenue jumped 29% year over year. Its AI semiconductor revenue soared 106%. The company's growth is accelerating, with no signs of slowing anytime soon. Broadcom's other businesses are also performing well. CEO Hock Tan expressed confidence in the Q1earnings callthat agentic AI and generative AI adoption will drive greater demand for VMware's cloud infrastructure.

Wall Street is definitely on the Broadcom bandwagon. Forty-four of the 47 analysts surveyed by S&P Global rated the semiconductor stock as a "buy" or "strong buy." The average price target for Broadcom is roughly 14% above its current share price.

I agree with Wall Street's enthusiasm. While I wouldn't bet the farm that Broadcom and its customers dethrone Nvidia, the company has a clear growth runway over the next few years. Although its stock looks expensive at first glance, trading at 38 times forward earnings, factoring in Broadcom's growth opportunities makes its valuation appear much less frothy.

3. Alphabet

Few companies have done more to advance AI than Google's parent, Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL). The company's Google Brain unit (now part of Google DeepMind) even developed the Transformer neural network architecture (the "T" in ChatGPT), which paved the way for the AI explosion.

Alphabet isn't resting on its laurels. Google Gemini ranks among the most powerful AI models available. Google Cloud is the fastest-growing of the top three largest cloud providers, with AI serving as its primary tailwind. Waymo is the leader in AI-powered autonomous ride-hailing services.

Wall Street isn't as giddy about Alphabet as it is about Nvidia and Broadcom. However, nearly nine out of 10 analysts surveyed by S&P Global (59 of 66) rated the stock as a "buy" or "strong buy." There aren't many megacap stocks with such broad support.

I'm upbeat about Alphabet's prospects. My view is that the company is as likely as any to make the next huge AI breakthrough. I predict that Waymo will become an important moneymaker by the end of the decade. Alphabet's Google Quantum AI unit could also be one of the biggest winners in quantum computing.

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Keith Speights has positions in Alphabet. The Motley Fool has positions in and recommends Alphabet, Broadcom, Nvidia, and S&P Global. The Motley Fool has a disclosure policy.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.