9 Best Artificial Intelligence (AI) Stocks Canada

Here are 9 of the best AI stocks Canadian investors can research:

1. NVIDIA Corporation (NVDA)
2. Alphabet Inc. (GOOGL)
3. Amazon.com Inc. (AMZN)
4. Microsoft Corporation (MSFT)
5. International Business Machines Corporation (IBM)
6. Apple Inc. (AAPL)
7. Intel Corporation (INTC)
8. UiPath Inc. (PATH)
9. C3.ai Inc. (AI)

1. NVIDIA Corporation (NVDA)

NVIDIA Corp Logo



$135.14 USD

  • +4.16
  • (3.18%)

Quote as of 06/18/2024 15:45 ET

  • $3,244,024,135,680 USD

    Market Cap

  • 65.43x

    Enterprise Value to EBITDA

  • 36.63x

    Forward PE

Metrics as of 06/18/2024 11:10 ET


NVIDIA Corporation (NVDA) is a top player in the AI stock market in Canada.

Their cutting-edge technology and innovation is renowned.

Their portfolio includes powerful GPUs, essential for accelerating AI applications.

NVIDIA’s GPUs excel at complex AI tasks, and have been adopted by many organizations.

Their focus lies on developing specialized hardware tailored for AI workloads.

They optimize their GPUs for deep learning algorithms, giving them an advantage over their competitors.

NVIDIA also has a noteworthy history of contributing to the self-driving car industry.

They use their GPUs for deep learning and computer vision, and have partnered with car makers and tech giants to shape the future of transportation through AI solutions.

2. Alphabet Inc. (GOOGL)

Alphabet Inc Logo

Alphabet Inc


$174.54 USD

  • -2.70
  • (1.52%)

Quote as of 06/18/2024 15:45 ET

  • $2,193,645,633,536 USD

    Market Cap

  • 19.19x

    Enterprise Value to EBITDA

  • 20.56x

    Forward PE

Metrics as of 06/18/2024 11:10 ET


Alphabet Inc, with its famous subsidiary Google, is a major player in the field of Artificial Intelligence (AI).

Through its innovative technologies and applications, Alphabet has positioned itself as one of the leading companies utilizing the power of AI.

Alphabet’s journey into AI began when it purchased DeepMind Technologies in 2014.

DeepMind’s advanced research and development in machine learning and neural networks have propelled Alphabet to the forefront of AI advancement.

With its vast data collected from different platforms and services, consisting of search engines, mobile operating systems, and cloud computing, Alphabet has been able to create complex AI algorithms and tools.

One thing that makes Alphabet distinct is its dedication to ethical principles in AI development.

The company has formulated an ethics board to supervise AI projects and guarantee their responsible implementation.

Alphabet not only strives for technological excellence, but also puts emphasis on social wellness, by addressing issues such as bias in algorithmic decision-making and privacy protection.

3. Amazon.com Inc. (AMZN)

Amazon.com Inc Logo

Amazon.com Inc


$182.35 USD

  • -1.71
  • (0.93%)

Quote as of 06/18/2024 15:45 ET

  • $1,911,276,175,360 USD

    Market Cap

  • 20.57x

    Enterprise Value to EBITDA

  • 31.89x

    Forward PE

Metrics as of 06/18/2024 11:10 ET


Amazon uses AI in its cloud computing division, AWS.

It provides natural language processing, image recognition, and predictive analytics services.

This means businesses can use AI without having to buy expensive infrastructure.

Alexa, Amazon’s voice-controlled virtual assistant, it uses advanced natural language processing algorithms to understand users and respond to them.

For its e-commerce platform, Amazon uses machine learning algorithms to give personalized recommendations to customers.

This makes for a better shopping experience, and boosts the likelihood of sales.

4. Microsoft Corporation (MSFT)

Microsoft Corp Logo

Microsoft Corp


$446.27 USD

  • -2.10
  • (0.47%)

Quote as of 06/18/2024 15:45 ET

  • $3,289,317,376,000 USD

    Market Cap

  • 26.32x

    Enterprise Value to EBITDA

  • 35.75x

    Forward PE

Metrics as of 06/18/2024 11:05 ET


Microsoft Corporation (MSFT) has earned itself a place as a top player in the AI industry.

They continuously push boundaries with their revolutionary tech.

Their dedication to AI R&D has led to a plethora of AI-powered products and services.

Plus, they’ve invested in AI startups, mainly OpenAI and their ChatGPT product, as well as talent to support their growth.

Not only that, but Microsoft’s commitment to ethical AI use stands out from their rivals.

They prioritize transparency and accountability in their algorithms, addressing bias and privacy worries.

5. International Business Machines Corporation (IBM)

International Business Machines Corp Logo

International Business Machines Corp


$170.26 USD

  • +0.76
  • (0.45%)

Quote as of 06/18/2024 15:45 ET

  • $155,436,826,624 USD

    Market Cap

  • 13.86x

    Enterprise Value to EBITDA

  • 16.21x

    Forward PE

Metrics as of 06/18/2024 11:15 ET


IBM has invested heavily in AI research and development, leading to breakthroughs in healthcare, finance, and cybersecurity.

Its Watson platform is built on machine learning and natural language processing, allowing it to analyze vast amounts of data.

IBM also has specialized chips optimized for AI workloads, giving it a competitive edge.

Furthermore, its extensive network of clients across various industries ensures a steady demand for its AI products and services.

6. Apple Inc. (AAPL)

Apple Inc Logo

Apple Inc


$214.93 USD

  • -1.74
  • (0.80%)

Quote as of 06/18/2024 15:45 ET

  • $3,258,342,965,248 USD

    Market Cap

  • 25.43x

    Enterprise Value to EBITDA

  • 31.48x

    Forward PE

Metrics as of 06/18/2024 11:05 ET


Apple Inc. (AAPL) is a tech giant that is known for its innovative products and advancements.

AI is integrated into many aspects of their operations, from Siri, the virtual assistant that uses AI to understand and respond to users’ queries, to the facial recognition technology used in iPhone models.

The company has made strategic acquisitions, such as Turi, a machine learning platform, and Xnor.ai, an edge-based AI pioneer.

Plus, they’ve developed custom chips specifically designed for AI processing.

Their Neural Engine powers tasks like facial recognition and augmented reality.

Apple also provides AI services for developers.

Core ML is an AI framework that allows them to integrate machine learning models into their apps with ease.

And, they prioritize user privacy by using on-device processing rather than cloud-based systems.

AI is transforming the user experience across Apple’s product ecosystem.

The company is dedicated to pushing the boundaries and remaining at the forefront of integrating AI into daily life.

7. Intel Corporation (INTC)

Intel Corp Logo

Intel Corp


$30.53 USD

  • -0.45
  • (1.45%)

Quote as of 06/18/2024 15:45 ET

  • $129,621,688,320 USD

    Market Cap

  • 15.77x

    Enterprise Value to EBITDA

  • 16.73x

    Forward PE

Metrics as of 06/18/2024 11:15 ET


Intel Corporation (INTC) specializes in designing and manufacturing advanced computer processors.

With their market presence and innovative solutions, they have become a key AI player.

Intel has made major investments in AI R&D.

This has lead to powerful hardware and software solutions, such as Intel Nervana Neural Network Processors.

These are specially designed to accelerate deep learning workloads.

They are known for their outstanding performance and efficiency.

Intel recently acquired Mobileye, a leader in autonomous driving tech.

With their expert help, Intel aims to develop advanced AI tech for self-driving cars.

This will have growth potential.

Intel is also committed to open-source collaboration.

This has led to partnerships with various AI startups and organizations, allowing for the exchange of ideas and resources, fostering innovation.

8. UiPath Inc. (PATH)

UiPath Inc. Logo

UiPath Inc.


$11.27 USD

  • -0.16
  • (1.43%)

Quote as of 06/18/2024 15:45 ET

  • $6,609,858,048 USD

    Market Cap

  • N/A

    Enterprise Value to EBITDA

  • 27.48x

    Forward PE

Metrics as of 06/18/2024 11:15 ET


UiPath Inc. (PATH) specializes in robotic process automation (RPA) with software solutions that automate tedious tasks and make business processes smoother.

UiPath stands out from the rest through its complete platform which blends AI capabilities with machine learning calculations.

This lets companies take advantage of automation and increase their operational proficiency.

Plus, UiPath created a live community of collaborators and developers to assist it in the growth of its platform.

Recently, UiPath has been flourishing.

In 2021, it became a publicly traded company, debuting on the New York Stock Exchange.

Its simple-to-use interface and changeable solutions have made UiPath a major player in the RPA market.

Moreover, UiPath focuses heavily on continuous innovation.

It puts in a lot of money in research and development, making sure it stays ahead in AI tech progress.

9. C3.ai Inc. (AI)

C3.ai, Inc. Logo

C3.ai, Inc.


$28.82 USD

  • -0.39
  • (1.33%)

Quote as of 06/18/2024 15:45 ET

  • $3,592,422,400 USD

    Market Cap

  • N/A

    Enterprise Value to EBITDA

  • N/A

    Forward PE

Metrics as of 06/18/2024 11:15 ET


C3.ai Inc. specializes in developing enterprise AI applications that use big data to inform business decisions.

C3.ai has earned recognition for its cutting-edge technology that is applied across various industries, such as energy, manufacturing, healthcare, and finance.

The company focuses on driving digital transformation in traditional industries.

AI and machine learning are leveraged to optimize processes, improve efficiency, and boost customer experience.

C3.ai’s AI-powered platform offers advanced analytics that allow businesses to extract valuable insights from data.

This helps them to identify patterns, predict outcomes, and make data-driven decisions with precision and speed.

Aside from its technological abilities, C3.ai is committed to responsible AI deployment.

What is a an AI Stock?

AI stocks focus on tech utilizing artificial intelligence and are known for their potential to revolutionize industries.

These companies are at the forefront of technological advancements.

AI technology can be applied across multiple sectors, including healthcare, finance, transportation, and more.

AI stocks often use machine learning algorithms to analyze data and extract useful insights.

Automation is also a goal, increasing efficiency and reducing human labour.

Though investing in AI stocks carries risks, thorough research and analysis are key.

Key Considerations When Investing in AI Stocks

Investing in AI stocks requires thought.

Key is understanding the company’s technology, and how it fits with your goals.

Companies with sophisticated AI tech are likely to fare better.

Scalability of the AI is also important.

This allows technology to change and grow with market demands, increasing potential.

Vet the management team’s and their AI expertise and experience.

This can give an idea of their ability to stay afloat in the quickly changing field.

Also, analyzing the competitive landscape is essential.

Identifying companies with strong selling points or positions gives a competitive edge.

Regulatory environment matters too.

Knowing government policies related to AI can help avoid growth roadblocks.

Man sitting beside a robot who is holding a briefcase

Frequently Asked Questions

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DISCLAIMER: This is not investment advice. Recommendations are for educational purposes only, presented as a path for you to further research. Please seek independent financial advice before making any financial decisions. PiggyBank is not liable for any investment decisions you make based on the information presented on this website.