Evercore ISI is updating some of its top picks that it says are poised to benefit from the application of artificial intelligence as third-quarter earnings season kicks into high gear. Ongoing macroeconomic challenges such as rising bond yields, elevated oil prices and the war in the Middle East could present a daunting backdrop as third-quarter reports flood in.
Here are some of the companies that made the Evercore ISI list: It's no surprise that popular technology names Alphabet and Nvidia made the cut, given their dominant roles in 2023's AI-fueled stock market advance. Nvidia shares have more than tripled since the start of the year, while Google and YouTube parent Alphabet has rallied 57%. Evercore ISI estimates that the search giant has a 44% exposure to generative AI. But Emanuel sees a host of other AI beneficiaries outside technology.