3 Artificial Intelligence (AI) Stocks to Load Up On in August

Nvidia has a major catalyst arriving in the latter half of August.

Amazon is seeing significant growth in cloud computing thanks to AI workloads.

August has just begun, but the events in late July and early August have really shaken up the artificial intelligence (AI) investing landscape. Several winners and losers have appeared, and even though earnings season isn't over yet, there are plenty of stocks worth considering right now.

A few stocks that top my list are Nvidia (NASDAQ: NVDA) , Micron (NASDAQ: MU) , and Amazon (NASDAQ: AMZN) . All three of these look like great AI options now and are worth buying at these levels.

Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »

Nvidia hasn't been the Nvidia most people remember in 2026. For the previous three years, it was one of the top stocks in the market to own. This year, it has risen around 17%, which is just barely better than the S&P 500 (SNPINDEX: ^GSPC) . However, that could change shortly.

Nvidia reports its fiscal second quarter results at the end of August, and there have been several indications that it could be a blowout quarter. Many AI hyperscalers have raised spending guidance, and one of Nvidia's chief competitors, AMD , reported a blowout quarter. Unlike AMD, Nvidia's stock isn't highly valued heading into earnings, and that could be a recipe for the stock to explode higher.

Nvidia trades for a pretty reasonable price tag of 24 times forward earnings. You'll be hard-pressed to find a stock growing as fast at that cheap of a price, and I think it's primed to skyrocket late in August following earnings.