In a recent podcast appearance, Nvidia Corp. (ticker: NVDA) CEO Jensen Huang said the era of artificial general intelligence has already arrived.
AGI is generally defined as AI technology that matches or surpasses human intellectual competence across all domains.
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AI agents are already surpassing and replacing humans at specific tasks. However, AGI technology would be capable of performing at or above human levels of productivity at any intellectual task, and it could even apply knowledge gained from one task to an entirely unrelated task without explicit programming.
Here are seven of the best AGI stocks to buy, according to Bank of America:
| Stock | Year-to-date return | Implied upside* |
| Nvidia Corp. (NVDA) | -10% | 79% |
| Alphabet Inc. (GOOG, GOOGL) | -12% | 35% |
| Microsoft Corp. (MSFT) | -26% | 40% |
| Amazon.com Inc. (AMZN) | -14% | 38% |
| Taiwan Semiconductor Manufacturing Co. Ltd. (TSM) | 8% | 44% |
| Broadcom Inc. (AVGO) | -13% | 50% |
| ASML Holding N.V. (ASML) | 22% | 45% |
*Based on March 27 close and Bank of America analysts’ price targets.
Nvidia Corp. (NVDA)
High-end chipmaker Nvidia provides the massive processing power needed to run advanced AI applications. At this point, its chips are a central bottleneck for any company pursuing AGI compute power. Assuming Huang’s conclusion is correct, the next decade could be a very lucrative one for Nvidia. Analyst Vivek Arya says Nvidia is his top stock pick in the entire technology sector. Arya says the company is a cutting-edge AI infrastructure supplier and a central operator in the cloud services, high-end gaming, enterprise graphics and automotive markets. Bank of America has a “buy” rating and $300 price target for NVDA stock, which closed at $167.52 on March 27.
Google and YouTube parent company Alphabet uses AI and automation in virtually every facet of its business, from ad pricing to content promotion to Gmail spam filters. Alphabet is also a full-stack AI investment. The company will benefit from its leading Gemini AI model directly, and it can also monetize AGI indirectly via its advertising and cloud services businesses. Analyst Justin Post says Alphabet has industry-leading AI technology that it can integrate into its world-class search, cloud and YouTube businesses to improve targeting and profitability. Bank of America has a “buy” rating and $370 price target for GOOGL stock, which closed at $274.34 on March 27.
Microsoft Corp. (MSFT)
Microsoft has invested more than $13 billion in OpenAI and has integrated OpenAI’s ChatGPT into its Bing search engine. Microsoft has the ability to embed and monetize AGI throughout its Azure cloud services, enterprise software and developer ecosystem. Analyst Tal Liani says Microsoft is at the epicenter of the AI supercycle. Liani says adoption of the Azure cloud infrastructure platform and additional rollouts of Microsoft AI solutions and services will help the company maintain mid-double-digit revenue growth for at least the next three years. Bank of America has a “buy” rating and $500 price target for MSFT stock, which closed at $356.77 on March 27.
Amazon.com Inc. (AMZN)
Amazon has integrated AI into every aspect of its business, including targeted advertisements, marketplace search and recommendation algorithms, and its Amazon Web Services division. If AGI has already arrived, it can boost AWS services demand and help Amazon improve operational efficiency and generate higher margins from its global ecosystem of logistic, retail and advertising operations. Post says Amazon is a great investment for anyone looking to profit from secular growth markets such as AI, e-commerce, cloud computing, online advertising and connected devices. Bank of America has a “buy” rating and $275 price target for AMZN stock, which closed at $199.34 on March 27.
[Read: 6 Best AI-Proof Stocks to Buy Now]
Taiwan Semiconductor Manufacturing Co. Ltd. (TSM)
Taiwan Semiconductor Manufacturing is the world’s largest pure-play semiconductor foundry. Taiwan Semi manufactures all the advanced AI semiconductors for Nvidia and other AI chipmakers. If any company has achieved or will achieve AGI, Taiwan Semi will likely manufacture all its leading-edge AI chips. Analyst Haas Liu says the rise of AI technology, ongoing growth in mobile semiconductor content, and proliferation of the Internet of Things will require major global computing power and will help Taiwan Semi sustain at least 15% annual revenue growth. Bank of America has a “buy” rating and $470 price target for TSM stock, which closed at $326.74 on March 27.
Broadcom Inc. (AVGO)
Broadcom is a diversified designer, developer and supplier of analog semiconductor devices. The company provides custom AI accelerators and high-performance networking chips that are essential to the data center infrastructure needed for compute-intensive AGI services. Arya says Broadcom is a high-quality, diversified company that is significantly exposed to AI, smartphones, data centers, enterprise storage, home connectivity, factory automation and even the telecommunications market. In addition, he says Broadcom is one of the most profitable semiconductor stocks, which should help support long-term returns for investors. Bank of America has a “buy” rating and $450 price target for AVGO stock, which closed at $300.68 on March 27.
ASML Holding N.V. (ASML)
ASML produces photolithography systems and other processing equipment used in semiconductor fabrication. ASML essentially has a global monopoly on the extreme ultraviolet (EUV) lithography equipment necessary to produce advanced chips needed for AGI. Analyst Didier Scemama says ASML’s advanced EUV technology will underpin many of the disruptive trends of the next decade. In fact, Scemama says AI demand could help ASML exceed its 2030 financial targets. He projects double-digit compound annual revenue growth and even higher earnings-per-share growth over the next five years. Bank of America has a “buy” rating and $1,886 price target for ASML stock, which closed at $1,302.47 on March 27.
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7 Stocks to Buy if AGI Is Truly Here originally appeared on usnews.com