By Keithen Drury
Publication Date: 2026-03-09 01:01:00
With the market suddenly turning bearish on some of the best artificial intelligence (AI) stocks in the market, I decided now is the perfect time to take action and buy some shares. The company I bought most recently is fairly popular and has been a top AI pick for a long time. However, one of the greatest pieces of investing advice I’ve ever heard came from Peter Lynch, who noted, “Sometimes the best stock to buy is one you already own.”
I agree with that philosophy, which is why I recently purchased Nvidia (NVDA 2.94%) stock before earnings. While I may be somewhat disappointed that Nvidia’s stock didn’t soar following earnings, and could have gotten it for cheaper if I waited, I’m confident in its long-term prospects and believe it’s still a great buy today.
Image source: Getty Images.
AI spending isn’t slowing down
The biggest reason some of the big tech stocks are down alongside Nvidia is the market’s growing skepticism of AI spending. The big four hyperscalers alone are slated to spend about $650 billion on capital expenditures this year, with the vast majority of that going toward AI aspirations. There has been a ton of innovation with AI over recent months, and it doesn’t look to be slowing down anytime soon. However, what’s missing are the massive revenue streams needed to justify this spending, and that’s what has the market concerned. If there is no real return on investment, why are they spending so much? The reality is, none of these companies can afford to…
