Summary: Unfortunately, you can’t buy Midjourney stock, as the company isn’t publicly traded. However, you can still invest in other AI-related stocks through a reputable brokerage platform like eToro.
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About Midjourney
Developed in 2022 by Midjourney Inc., Midjourney is an artificial intelligence (AI) art generator app. As an AI tool, it enables users to effortlessly input prompts, resulting in the rapid creation of images that seamlessly complement the provided textual context.
Users can offer feedback based on the generated images, refining the results until they get the desired outcome. Interestingly, the quality of these AI-generated visuals frequently stands on par with those created by actual human artists.
Although widely popular, Midjourney Inc. still didn’t go public. What this means is that it’s currently impossible to buy its stock and profit from its position in the AI industry. Nevertheless, you can still invest in other AI stocks that are open to the investing public.
Top 5 AI stocks as alternatives to Midjourney
Since it’s not possible to invest in Midjourney right now, it’s essential to consider other AI companies that might align with your investment goals. Our top 5 picks include:
- Microsoft (NASDAQ: MSFT);
- Nvidia (NASDAQ: NVDA);
- Alphabet Inc. (NASDAQ: GOOGL);
- Amazon (NASDAQ: AMZN);
- C3ai.inc (NYSE: AI).
Microsoft
Microsoft‘s significant presence in the AI market has been amplified through its collaboration with OpenAI and its substantial $10 billion investment in ChatGPT, which currently drives the latest iteration of the Bing search engine.
MSFT stock price today
Nvidia
Nvidia has shifted its focus to AI, capitalizing on its processing power. In May 2023, the company projected a Q2 fiscal 2024 revenue of $11.00 billion, with AI being a key driver, notably through its collaboration with Google and the introduction of the L4 Tensor Core GPU. Nvidia also offers AI services, partners with ServiceNow, and plans to integrate its AI Enterprise software with Microsoft’s Azure.
NVDA stock price today
Alphabet Inc.
The parent company of Google, Alphabet Inc. stands as one of the world’s largest tech conglomerates and a true titan in the AI sector. The company has expanded its reach into the autonomous vehicles (AVs) market and recently unveiled its very own chatbot, Bard, further solidifying its position as a front-runner in technological innovation.
GOOGL stock price today
Amazon
Amazon seamlessly integrates AI throughout multiple aspects of its business. This includes popular innovations like the voice-controlled assistant, Alexa, and the revolutionary cashier-less grocery stores of Amazon Go. Additionally, Amazon Polly, one of the industry’s most ubiquitous text-to-speech solutions, exemplifies the role AI plays for Amazon.
AMZN stock price today
C3ai.inc
C3.ai has earned a spot among our top 5 AI-related stocks due to its exclusive focus on AI and its software solutions that assist users in coding. This makes it an appealing choice for traders seeking AI opportunities in a specific industry.
AI stock price today
Note
How to buy AI stocks: Step-by-step
In case you’re interested in investing in any of these companies, you can follow this simple step-by-step guide below and become a shareholder in no time.
Step 1: Choose a brokerage
First things first. You need to select the right brokerage. As such, research different brokerages and compare their platforms. Make sure that you look for low fees, user-friendly interfaces, research tools, and a good reputation.
Once you’ve chosen a brokerage, you should sign up for an account. Note that you’ll need to provide personal information and financial details. Furthermore, most brokerages will require you to verify your identity by providing identification documents.
Our go-to brokerage is eToro, a widely popular online broker with more than 30 million registered accounts. The platform also holds licenses from reputable regulatory bodies, such as FinCEN, and it offers a host of great features like:
- Commission-free stock trading;
- Access to over 2,000 stocks from 17 different exchanges;
- The option to purchase fractional shares;
- A user-friendly platform that simplifies the trading experience.
Highly Rated Stock Trading & Investing Platform
-
Invest in 2,800+ stocks and other assets including 70+ cryptocurrencies and commodities.
-
0% commission on buying stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.
-
Copy top-performing traders in real time, automatically.
-
eToro USA is registered with FINRA for securities trading.
Step 2: Fund your account
After you register a brokerage account, the next step is to fund it:
- Transfer funds: Link your bank account to your brokerage account and transfer funds;
- Set a budget: Decide how much you want to invest in a particular AI stock and make sure it aligns with your financial goals and risk tolerance.
Step 3: Place your order
With your account funded, you’ll be ready to buy your chosen AI stock:
- Place an order: Log into your brokerage account and search for the stock symbol of the AI company you want to invest in. Once you’ve found it, place an order. You can choose between different order types, such as a market order (buy at the current market price) or a limit order (buy at a specific price);
- Review your order: Double-check your order details, including the number of shares you’re buying and the order type;
- Confirm your order: After reviewing everything, confirm your order. Your brokerage will execute the trade on your behalf.
Note
Pros and cons of investing in AI stocks
Pros
- Potential for high growth: AI is a rapidly expanding industry with vast growth potential;
- Diversification: Investing in AI stocks can diversify your portfolio and reduce risk;
- Innovation: AI companies are at the forefront of technological innovation.
Cons
- Volatility: AI stocks can be highly volatile, leading to potential losses;
- Competition: The AI industry is competitive, and not all companies will succeed;
- Regulatory risks: AI faces potential regulatory challenges that could impact stock prices.
Common mistakes to avoid when investing in AI stocks
To ensure that you enjoy a successful investment journey, you should avoid making these common mistakes:
- Not researching: Failing to research AI stocks thoroughly can lead to uninformed decisions;
- Overlooking risk tolerance: Invest according to your risk tolerance and financial goals;
- Chasing hype: Don’t invest solely based on the latest AI trend or news;
- Neglecting diversification: Diversify your portfolio to reduce risk.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
FAQs about how to buy Midjourney stock
Can I buy AI stocks through a traditional bank?
Some traditional banks offer brokerage services, but online brokerages like eToro often provide more options and lower fees.
How do I stay updated on AI stock news?
Use financial news websites, follow reputable stock market analysts, and consider subscribing to AI industry newsletters.
Should I invest in multiple AI stocks or focus on one?
Diversification is generally advisable. Therefore, it’s better to Invest in multiple AI stocks to spread risk.
Are AI stocks suitable for long-term investment?
AI stocks can be suitable for both short-term and long-term investment, depending on your goals and risk tolerance.
Highly Rated Stock Trading & Investing Platform
-
Invest in 2,800+ stocks and other assets including 70+ cryptocurrencies and commodities.
-
0% commission on buying stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.
-
Copy top-performing traders in real time, automatically.
-
eToro USA is registered with FINRA for securities trading.
