With the recent stock market crash, several leading artificial intelligence (AI) stocks have gone on sale. While the market is likely to remain volatile given tariffs, threatened tariffs, and the current trade war, now is still a great time to begin building positions in market-leading businesses.

Let's look at five cheap, leading AI stocks that could be great buys this month.

1. Nvidia

Nvidia (NVDA 2.91%) is the market leader in AI chips, where its graphics processing units (GPUs) have become the main component to provide the processing power to handle AI workloads. The company's revenue growth has been tremendous, with it more than doubling its sales in each of the past two years. Nvidia has taken a more than 80% market share in the GPU space due largely to its CUDA software platform, which allows developers to easily program its chips for various AI-related tasks.

As long as the AI infrastructure buildout continues, Nvidia is well positioned to be one of the biggest beneficiaries. Spending on AI infrastructure remains on the rise, and Nvidia predicts data center capital expenditure (capex) will reach $1 trillion by 2028.

With the market sell-off, Nvidia has dropped to bargain levels, trading at a forward price-to-earnings ratio (P/E) of only 21.5 times based on this year's analyst estimates and a price/earnings-to-growth (PEG) ratio of 0.4. Stocks with a PEG below 1 are considered undervalued.

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2. Broadcom

While Nvidia is the leader in off-the-rack GPUs, Broadcom (AVGO 5.42%) has become the leader in helping customers develop custom AI chips. These chips involve more upfront costs, take time to design, and are developed for very specific uses, but they can have better performance and consume less power than GPUs.

Following success with its initial customer Alphabet, Broadcom has been gaining more AI chip customers. It sees its three most established customers having a $60 billion to $90 billion serviceable market opportunity in its fiscal year 2026 (ending October 2026), and it has recently added additional customers, including Apple. Given the upfront costs involved, these development programs are unlikely to be impacted by any tariff concerns.

Meanwhile, the stock is inexpensive, trading at a forward P/E of just over 23 times. The company just initiated a $10 billion buyback to take advantage of its cheap stock price.

3. Amazon

While Amazon (AMZN 2.01%) is the leader in e-commerce, its largest business by profitability is actually cloud computing. The company created the infrastructure-as-a-service model with Amazon Web Services (AWS), and it remains the market-share leader today.

AWS has been growing quickly, fueled by customers building out their own AI models and apps and running their AI workloads on its platform. However, AWS has been capacity-constrained, which is why Amazon will spend a whopping $100 billion this year on data center capex. The company also developed its own custom AI chips through its Annapurna subsidiary, which gives it a cost advantage.

Trading at 27.5 times this year's analyst estimates, Amazon's stock is at one of its cheapest valuations in its history. This is a great time to scoop up shares of this cloud computing and e-commerce leader that has a history of spending big to win big.

4. Meta Platforms

Meta Platforms (META -0.49%) has embraced AI through the development of its Llama AI model, which has been helping increase user engagement on its social media platforms as well as helping advertisers improve their marketing campaigns. This led to a 14% increase in average ad prices and a 6% rise in ad impressions last quarter, as revenue jumped 21%. Meanwhile, the company is looking to turn Llama into a leading AI assistant with multimodal and agentic capabilities.

In addition to AI, Meta is also in the process of building out a new social media platform in Threads. It has been growing its monthly active users consistently and ended last year with 320 million users. In typical Meta fashion, it will look to monetize the platform later, at which time it should be a strong growth driver.

The stock is inexpensive, trading at a forward P/E multiple of only 20.5 times.

5. Salesforce

A leader in customer relationship management (CRM) software, Salesforce (CRM -0.06%) is also looking to become the leader of agentic AI. This is the next evolution of AI, in which AI agents can be deployed to perform tasks with little need for human supervision.

The software-as-a-service (SaaS) company has entered this market with its Agentforce platform, which offers out-of-the-box solutions customers can use to customize AI agents using no-code and low-code tools incorporated into its platform. It's also introduced an AI agent marketplace with several partners to help expand use cases through the addition of new templates and actions for its AI agents. Agentforce is a consumption-based product that costs $2 per interaction, representing a huge market opportunity for the company moving forward.

At a forward price-to-sales (P/S) multiple of 5.7 times and a forward P/E multiple under 22 times, Salesforce stock is a bargain given the opportunity in front of it.