Nvidia, Micron, and Amazon are highlighted as top artificial intelligence stocks to buy in August. Nvidia reports fiscal second quarter results at the end of August, with indications of a potential blowout quarter as AI hyperscalers raise spending guidance and competitor AMD reported strong results; Nvidia trades at 24 times forward earnings. Micron has more than tripled in 2026, benefiting from soaring memory chip prices that management expects to remain elevated beyond 2027 due to tight supply. Amazon Web Services revenue surged 37% in Q2 with operating income up 64%, and CEO Andy Jassy sees a future $1 trillion annual run rate for the cloud business.
