2 Top Artificial Intelligence Stocks to Buy This Summer
Investing in mega trends such as artificial intelligence (AI) enables you to gain exposure to companies that are part of rapidly expanding addressable markets. In this article, I have identified two top AI stocks that Canadian investors should consider owning in July 2025.
Valued at a market capitalization of US$74 billion, Snowflake (NYSE:SNOW) operates a cloud-agnostic data platform that enables organizations to consolidate, analyze, and share data across multiple cloud environments, while supporting AI and analytics workloads.
Snowflake has demonstrated strong momentum, showcasing transformative product velocity and deepening AI integration across its platform. Snowflake delivered over 125 new product capabilities in the first quarter (Q1) of fiscal 2026, doubling the pace of innovation from the previous year while achieving 26% year-over-year growth in product revenue, which reached US$997 million.
CEO Sridhar Ramaswamy emphasized Snowflake's evolution from a data warehouse provider to an AI-first enterprise platform. Over 5,200 accounts now utilize Cortex AI capabilities every week, with applications spanning clinical research, customer insights, and business automation. The platform's AI-ready data approach positions structured and unstructured data for immediate AI consumption, addressing a critical enterprise need.
The company's cloud-agnostic positioning distinguishes it from hyperscaler competitors, who often promote proprietary solutions. New offerings, such as Snowflake Intelligence and enhanced Apache Iceberg integration, provide customers with flexibility while reducing concerns about vendor lock-in. Chief Revenue Officer Mike Gannon highlighted customer success stories, including contractors who improved bid processing from one every three days to 100 daily by utilizing AI-powered analytics.
Snowflake is broadening its addressable market through specialized solutions for the government and automotive sectors. Its consumption-based model benefits from increased workload complexity and AI-driven use cases, with customers viewing data infrastructure as essential for business transformation rather than operational overhead.
Snowflake is forecast to increase sales from US$3.62 billion in fiscal 2025 to US$10.1 billion in fiscal 2030. In this period, its free cash flow (FCF) is forecast to grow from US$844 million to US$4 billion. If the tech stock is priced at 40 times forward FCF, it could more than double over the next four years.
Advanced Micro Devices (NASDAQ:AMD) designs and manufactures microprocessors, graphics processors, and related semiconductor technologies for data centres, PCs, gaming, and embedded systems worldwide.
The semiconductor giant demonstrated strong momentum at its Advancing AI 2025 event, unveiling the MI350 Series accelerators and previewing the transformative MI400 Series for 2026.
CEO Lisa Su emphasized AMD's position in the rapidly expanding AI market, with data center AI accelerator TAM expected to exceed $500 billion by 2028, driven primarily by inference workloads growing over 80% annually.
AMD's MI355 flagship accelerator delivers a massive four times generational performance leap with industry-leading 288GB of memory, capable of running 520 billion parametre models on a single graphics processing unit.
The chip provides up to 40% better cost per token than competitors, positioning AMD firmly in the inference market. Early customer deployments at xAI, Meta, Oracle, and Microsoft validate the platform's production readiness.
Strategic partnerships with open-source frameworks, such as vLLM and SGLang, demonstrate competitive advantages over proprietary alternatives, enabling customers to achieve superior throughput on AMD hardware.
With Q1 revenue up 36% to US$7.4 billion and data centre segment growth of 57%, AMD appears well-positioned to capitalize on the AI infrastructure buildout while maintaining its commitment to open, programmable computing architectures.
AMD is forecast to increase sales from US$25.8 billion in 2024 to US$56 billion in 2029. In this period, its FCF is forecast to grow from US$2.41 billion to US$15.2 billion. If the tech stock is priced at 30 times forward FCF, it could gain close to 100% over the next four years.
The post 2 Top Artificial Intelligence Stocks to Buy This Summer appeared first on The Motley Fool Canada.
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Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool's board of directors. Fool contributor Aditya Raghunath has no position in any of the stocks mentioned. The Motley Fool recommends Advanced Micro Devices, Meta Platforms, Microsoft, Oracle, and Snowflake. The Motley Fool has a disclosure policy.
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