A slew of companies—led by tech giants Microsoft and Alphabet—have announced high-profile forays into artificial intelligence amid growing hype around AI-equipped chatbot ChatGPT, and though some stocks have already started to surrender some of their AI-fueled gains, analysts seem to be bullish overall that the technology will create real market value in the near future.... [+]
Over the years, investing fads ranging from meme stocks to cannabis have eventually cooled, the analysts note, before positing: “Yet, something suggests the AI hype is worth considering seriously . . . product-market fit.” "The AI war is heating up," Bank of America analysts told clients on Monday, referencing Alphabet's announcement that it would release a ChatGPT rival named Bard to the public"in the coming weeks."of the Google parent's AI announcement, Bank of America notes the tech giant"is well prepared with years of investment in the technology," and has a"large distribution advantage" with iOS and Android.
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