Wall Street has become increasingly interested in artificial intelligence (AI) stocks this year, with OpenAI’s ChatGPT and Alphabet’s Bard chatbots leading the way. The recent earnings statement from Nvidia that included promising revenue guidance helped push AI-related shares up and increased Nvidia’s market value by almost $200bn in a single day. Additional semiconductor companies such as TSMC and Broadcom have seen increases alongside software support firms, including Synopsys and Cadence Design. The following ten AI-related companies have been top performers so far in 2023:
• C3.ai
• Nvidia
• AMD
• Marvell Technology
• Cadence Design Systems
• Synopsys
• Broadcom
• Alphabet
• Microsoft
• Taiwan Semiconductor
C3.ai had the highest year-to-date gain, at 260.8%.
Nvidia has been particularly successful, achieving a market valuation of $1tn for the first time ever. Jensen Huang, Nvidia’s CEO, has become one of the most respected people in the technology industry for developing highly sought-after graphics processors and chips that are essential to AI, machine learning, and gaming. Huang has a reputation as a knowledgeable and insightful leader, with a focus on staying ahead of the competition.
C3.ai is an AI technology firm that uses machine learning to provide advanced predictive analytics software solutions to businesses. Founded in 2009 in Redwood City, California, the firm has been successful in offering solutions to clients across sectors such as healthcare, finance, and energy. The company went public in December 2020, and its shares have risen considerably since then.
