Just today, artificial intelligence (AI) tricked me. I was listening to YouTube when a great cover of "Goodbye Yellow Brick Road" by Paul McCartney caught my attention. 

The only catch? Sir Paul has never recorded the song -- it was an AI creation. Yet, I, a Beatles mega-fan, couldn't tell the difference. 

The world is changing, and AI is a big reason why. So, let's have a look at three stocks that are poised to benefit from it: Nvidia (NVDA -0.05%), Crowdstrike Holdings (CRWD 0.19%), and Amazon (AMZN 1.10%).

$100 bills in a jar.

Image source: Getty Images.

1. Nvidia

Let me be clear: No company will benefit more from the AI revolution than Nvidia. That's because AI requires tremendous amounts of computing power to train the large language models and supercomputers behind user-facing AI applications.

Thus, the data center giants (i.e., MicrosoftAmazon, and Alphabet) are turning to Nvidia to supply the computational "guts" to make their AI better, smarter, and faster. The workhorse they're all after is Nvidia's H100 chip, sometimes valued at an eye-popping $40,000 on the secondary sales market. 

The insatiable demand that's driving those sky-high prices is delivering huge sales and profits for Nvidia. In the company's most recent quarter (the three months ended on April 30, 2023), Nvidia reported $7.2 billion in revenue -- about 10% above what Wall Street was expecting. Similarly, adjusted earnings per share were $1.09, roughly 18% above estimates.

In addition to those impressive quarterly results, the company issued revenue guidance for Q2 that was roughly 50% higher than what analysts had expected. That guidance sent the stock soaring higher by about 25%, while year-to-date, Nvidia stock is up more than 167%. 

Nevertheless, owning Nvidia isn't without risk; shares currently trade at a record-high price-to-sales ratio of 39.5. To justify that sort of valuation, the company must continue delivering astounding results each quarter. And with the AI revolution still in the early innings, Nvidia should have plenty of room to run.

2. CrowdStrike Holdings

The world is still coming to grips with how AI will revolutionize the economy. However, there's one sector where advancements in AI are already changing the landscape dramatically: cybersecurity.

AI has taken a leading role in the never-ending cat-and-mouse game between reputable organizations and hackers. And CrowdStrike Holdings is one company that is leading that innovation.

The company offers cloud-based security modules that rely on crowdsourced data and AI to identify threats and thwart attacks before systems are compromised. That's never been more important as the cost of cybercrime continues to skyrocket. A recent federal report noted that U.S. banks potentially processed over $1 billion worth of ransomware payments in 2021 alone.

As a young company, CrowdStrike remains early in its growth cycle. Over the last 12 months, it has generated $2.2 billion in revenue, and it's projected to grow revenue at an average annualized rate of about 32% over the next two years. For investors looking for a niche AI play, CrowdStrike Holdings is a name to consider.

3. Amazon

Admittedly, some investors may not think of Amazon as an AI stock. However, once you scratch the surface, it's clear: Amazon not only has AI exposure but, in some ways, it has major advantages over other tech giants that are also playing the AI game.

Let's start with this: Winning the battle over AI will require tons of data -- the more personal, the better. And on that front, Amazon has a solid lead. By shopping on Amazon, customers are turning over valuable data to the company (e.g., location, spending habits, preferred brands, etc.).

What's more, just as Alphabet has largely cornered the search market through force of habit, winning brand loyalty in AI may come down to familiarity. And with over 100 million Alexa-enabled smart speakers already sold, Amazon's AI assistant is already the go-to oracle in many homes.

Adding to Amazon's appeal is its valuation. Shares currently trade well below their 10-year price-to-sales and price-to-book averages, meaning investors can accumulate shares at historically cheap levels.

In summary, Amazon has all the tools to compete in the battle for AI dominance. Best of all, investors that are willing to buy-and-hold shares of this tech giant might just set themselves up for life.