Goldman Sachs issues its verdict on generative A.I. and names top stocks to play it

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Goldman's analysts addressed investor concerns over rallies like Nvidia's 190% rise in stock price this year.

Goldman Sachs says the recent surge in artificial intelligence stocks is not just hype but is driven by genuine potential in the new technology. Generative AI, a form of AI that can create new content and interact with humans in their natural language, has seen a significant uptick in interest since the release of ChatGPT late last year. Investor enthusiasm for the technology has meant exchange-traded funds, such as Global X Robotics and Artificial Intelligence , have rallied this year.

Nvidia shares soared 190% in the first half of 2023, lifting the 30-year-old company's market cap past $1 trillion. That milestone was achieved after the company revealed that it had beaten analysts' expectations on revenue for the first quarter. In addition, Nvidia said it expected sales of about $11 billion in the second quarter , more than 50% higher than Wall Street estimates of $7.15 billion.

 

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