It found that the quintile with the most AI keyword mentions has outperformed the bottom four quintiles since 2017. "The direction of the stock market hinges on their guidance," strategists at Trivariate Research said in a note. "AI is likely to be one of, if not the biggest, driver of the market in the next few years, akin to the internet in 2000." Trivariate Research identified a slew of high quality companies that have high mentions of AI this year.
Meta shares have been on fire this year, more than doubling in that time. Recently, the company unveiled its own AI computer chips . Alphabet shares have also popped 45% in 2023. The tech giant is a new general-use large language model called PaLM 2. Meanwhile, Microsoft announced earlier this year a multiyear, multibillion-dollar investment in ChatGPT maker OpenAI. The stock is up 33% in 2023. Other software names on the list included UiPath , ServiceNow, Salesforce and Workday.
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Source: CNBC - 🏆 12. / 72 Read more »