Goldman Sachs strategists found AI stocks outperform their credit peers. AI firms with strong balance sheets are set to benefit as demand for generative AI grows.
Bank of America reviewed 30 AI-focused software stocks, ranking the top 20 for the AI opportunity using factors like quality data and vertical solutions. Nvidia's latest earnings were boosted by demand for its GPU chips used in AI, causing the company's stock to soar over 24%. Investors should analyze potential winners based on factors that lend itself to success within the sector.
The S&P 500's 10% gain is mainly due to Apple, Amazon, Alphabet, Microsoft, and Nvidia, whose $2.9tn net worth represented 96% of the benchmark's progress in 2023.
Microsoft's partnership with OpenAI's ChatGPT helped to power their cloud apps and services and upcoming AI-powered products put them in the driver's seat. Wedbush raised their share price, hailing AI as the catalyst for competition against AWS.
C3.ai, Palantir, and UiPath are three stocks benefiting from AI hype. Nvidia recently joined the $1tn market cap milestone for tech stocks. Options traders are paying attention.
Explore the evolution of tech policy from Obama's optimism to Harris's vision at the Democratic National Convention. What's next for Democrats in tech?