AppLovin Surges as AI Drives Tech Market Gains in 2024

Artificial intelligence was the story of the tech market in 2024 and was the catalyst behind some of the biggest individual gains.While AppLovin had the biggest percentage gain, Nvidia added by far the most market cap, increasing in value by $2.2 trillion. Artificial intelligence is still an abstract concept for many everyday consumers unsure about how it will change their lives. But there's no question about whether businesses are finding value in it.

Some of the biggest winners in this year's stock market rally that's seen the Nasdaq jump 33% and other U.S. indexes notch double-digit gains have direct ties to the rapid advancements in AI. Chipmaker AppLovin entered the year with a market cap of about $13 billion and was best known for investing in a collection of mobile gaming studios that had produced titles like'Woody Block Puzzle,''Clockmaker' and'Bingo Story.' As older Americans downsize, over 20 million homes could become available—but they're not where young people want to move 4 phrases even couples in successful relationships need to use more: ‘Clear, respectful communication feels good for everyone,' therapist says Feeling out of the loop? We'll catch you up on the Chicago news you need to know. Sign up for the weeklyin 2021, riding a Covid-era wave of excitement in online games, the business is now centered around online ads and booming profits from advancements in AI. Last year, AppLovin released the updated 2.0 version of its ad search engine called AXON, which helps put more targeted ads on the gaming apps the company owns and is also used by studios that license the technology. Software platform revenue in the third quarter increased 66% to $835 million, outpacing total growth of 39%. Net income in the quarter soared 300%, lifting the company's profit margin to 36.3% from 12.6% in the course of a yea

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AppLovin Leads Tech Gains as AI Powers Stock Market RallyArtificial intelligence fueled the tech market's surge in 2024, driving impressive gains for companies like AppLovin and Nvidia. While AppLovin witnessed the highest percentage increase, Nvidia added a staggering $2.2 trillion to its market capitalization. Despite AI's abstract nature for many consumers, businesses are reaping its benefits, with AI-related advancements contributing significantly to the Nasdaq's 33% rally and double-digit gains in other U.S. indices.
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