1 Artificial Intelligence (AI) Stock to Buy Now That Could Soar Like Nvidia
Bloomberg Intelligence believes generative AI could soar to become a $1.3 trillion market by 2032 as more companies invest in their technical capabilities. So far, Nvidia has been one of the biggest beneficiaries of the hype, with its stock price up by almost 200% in 2023 alone. But for value-conscious investors, the tech giant (NASDAQ: GOOG) (NASDAQ: GOOGL) may be an even better long-term bet. Let's explore some reasons why.
The launch of OpenAI's generative AI chatbot, ChatGPT, initially raised concerns that Alphabet's Google Search could see its economic moat erode. But instead of buckling under the pressure, the company adapted by incorporating generative AI into many aspects of its business. This year, Alphabet launched its Bard chatbot, which is essentially a ChatGPT copycat. And more importantly, it incorporated AI into Google Search.
Right now, when most users type search queries on Google, they receive optional AI-generated answers in addition to the regular search results. This feature could outcompete ChatGPT because it takes advantage of Google's immense market share (the website handles over 90% of all search queries) to drive adoption. Google's search engine also uses up-to-date information, unlike ChatGPT, which trained on data up to 2022.
Source Fool.com
Alphabet Inc. A Stock
With 84 Buy predictions and not a single Sell prediction Alphabet Inc. A is an absolute favorite of our community.
With a target price of 179 € there is a slightly positive potential of 6.99% for Alphabet Inc. A compared to the current price of 167.3 €.
