The best stocks now that the 'age of AI is upon us,' according to Jefferies

Artificial intelligence has captivated Wall Street in 2023. The emergence of OpenAI's large-language model ChatGPT has spurred investor excitement over AI, helping stocks with direct or perceived exposure to AI soar. In fact, Jefferies Equity Research went so far as to label the current economic backdrop underpinning markets as "the age of AI" in a recent report.

mountain Nvidia stock has added more than 180% so far in 2023. Google-parent Alphabet has also been a big beneficiary of the AI boom this year. The company announced its own large-language model, Bard , shortly after the launch of ChatGPT last November. Jefferies maintains a buy rating on Alphabet stock with a $150 per share price target, or about 25% upside from Wednesday's $120.18 close.

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