Since the launch of ChatGPT last year, analysts and tech enthusiasts can't seem to stop talking about artificial intelligence. Microsoft so far seems to be leading the push into the space thanks to its investment in ChatGPT creator OpenAI and its new AI additions to the search engine Bing. But the Xbox maker is far from the only company poised to benefit from the AI "tidal wave" overtaking the investing community, according to Baird. The firm highlighted 50 artificial intelligence and machine-learning stocks across sectors positioned to capitalize on AI mania in a Tuesday note to clients. "These picks are not directly related to the hype surrounding generative AI and LLMs [large language models], but contain a variety of growth, margin, and market cap profiles," wrote analyst Colin Sebastian. Here are some of the stocks that made the cut: Apple and Nvidia are big names on the list. For years, both companies have employed artificial intelligence and machine learning to enhance their products. Altimeter’s Brad Gerstner revealed to CNBC earlier this month a new position in Nvidia , given its crucial role in AI. "We've long admired Nvidia, its leader Jensen [Huang] and the central role that they play in AI," Gerstner told CNBC's "Halftime Report." "Over the course of the last two years, we've seen a massive acceleration, evidenced by OpenAI and the work that Microsoft is doing, what Google is doing, etc." Apple is another potential front-runner that for years has spearheaded its own AI developments, from Siri to crash detection to its Face ID technology, noted analyst Will Power. Several software stocks also made the cut, including Palo Alto Networks . The stock jumped more than 11% Wednesday after management lifted its earnings guidance and the cybersecurity provider topped analysts' expectations for the recent quarter. Baird's price target suggests 32% upside in store for the stock from Tuesday's close. "AI/ML is increasingly finding use-cases within cybersecurity/infrastructure software to enhance overall cybersecurity posture," to improve threat detection and response, wrote analyst Shrenik Kothari, also highlighting CrowdStrike and Splunk as AI beneficiaries. Software stocks Adobe and Salesforce also made the list along with payrolls-services company ADP . — CNBC's Michael Bloom contributed reporting.