Since the launch of ChatGPT by OpenAI in November 2022, interest in artificial intelligence (AI) has surged. The industry is growing rapidly and is expected to expand at a compound annual growth rate of 37% until at least 2030. This growth trajectory could result in the market reaching nearly $2 trillion by the end of the decade.
This surge in AI has led to a significant increase in the value of numerous tech stocks over the past year. Microsoft (NASDAQ: MSFT) has been particularly successful, with its shares rising by 56% in the last 12 months. As one of OpenAI’s major investors, Microsoft has exclusive access to some of the startup’s most advanced AI models.
Investing in AI through Microsoft is an exciting opportunity. However, companies that are in earlier stages of their AI ventures may have even more potential for long-term growth. Advanced Micro Devices (NASDAQ: AMD) and Amazon (NASDAQ: AMZN) are two appealing options. One is establishing a profitable position in the AI chip market,…
2024-02-21 06:15:00
Originally from finance.yahoo.com