High speed steel works fine for me.
cobalt may hold an edge a bit longer.
the bits need to stay sharp,and you are good to go.
keep your rpm moderate(lowish) and your chip load(feed)up.
a good cutting oil will help also.
Good old HSS works for me too.
And I certainly agree with Johnny. NEVER attempt to cut or turn stainless with a dull tool. Just not worth the hassle.
I love working with stainless steel and I find that it 'prefers' to be cut ( drilled or turned ) fairly aggressively.
IIRC, S.S. work hardens when cut, but the hardening is fairly shallow. Thus too light a cut will put the hurt on your bit. I think I read this in a Machinery's Handbook in the eighties.