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Image source: Getty Images<\/p>\n
Growth stocks in the artificial intelligence (AI) space have generally done very well in recent years. Nvidia, for example, is up around 1,300% over the last five years.<\/p>\n
There are still a lot of AI stocks that look cheap, however. Here are three that I believe are worth a closer look today.<\/p>\n
A suite of AI products <\/p>\n
Let\u2019s start with tech powerhouse and Google owner, Alphabet (NASDAQ: GOOG<\/a>). It currently trades on a forward-looking price-to-earnings<\/a> (P\/E) ratio of just 21.<\/p>\n That\u2019s roughly in the line with the US market average. So, unlike a lot of other AI stocks, Alphabet isn\u2019t commanding a huge valuation premium to the market at present.<\/p>\n Now, one reason this stock has a lower valuation than some others is that generative AI poses a threat to Google\u2019s business model (search). No doubt, there\u2019s some uncertainty here.<\/p>\n Yet with its suite of powerful products (AI mode, AI Overviews, Gemini, Google Maps, etc), I\u2019m optimistic that Google will remain relevant in the AI era. And it seems the market is starting to take the same view.<\/p>\n After some weakness early in the year, the stock is now rising again. I see the potential for further gains ahead and believe the stock is worth considering today.<\/p>\n Rolling out AI agents<\/p>\n Next, we have AI agent specialist Salesforce (NYSE: CRM<\/a>). It\u2019s currently trading on a P\/E ratio of 22.7.<\/p>\n This is very much a \u2018battleground\u2019 stock right now. On one hand, the bears say that automation and AI are going to reduce demand for Salesforce\u2019s traditional customer relationship management (CRM) software. On the other hand, there are those who see a lot of potential in the company\u2019s agentic AI offering, Agentforce, and believe the stock is cheap today.<\/p>\n Personally, I\u2019m in the latter camp. While I acknowledge the risks here, I don\u2019t think Salesforce\u2019s offering is going to become obsolete any time soon. And with the company rolling out innovative AI and data services, I think it will continue to grow in the years ahead. So, in my view, it\u2019s a stock to think about buying today.<\/p>\n A crucial cog in the ecosystem<\/p>\n Finally, I think semiconductor manufacturing equipment maker Lam Research (NASDAQ: LRCX<\/a>) is worth a look today. It currently trades on a P\/E ratio of 22.4.<\/p>\n