1 Artificial Intelligence (AI) Stock to Buy Now That Could Soar Like Nvidia
Analysts at Bloomberg Intelligence believe the generative artificial intelligence (AI) market could grow at a 10-year compound annual growth rate (CAGR) of 42% to $1.3 trillion as companies implement the tech in automation, product creation, and different types of software.
So far, Nvidia has benefited hugely from the trend, selling the computer chips used to train and run these complex models. But e-commerce giant Amazon (NASDAQ: AMZN) is taking a different approach by trying to become the cloud service provider of choice for AI-related enterprises. Let's explore how this strategy could create value for investors.
The 2022 launch of ChatGPT set off an AI arms race among top technology infrastructure companies like , Microsoft, and Amazon, which are all seeking to capitalize on the new opportunity. Microsoft scored an early win with its partial ownership of OpenAI, the creator of ChatGPT, while Alphabet's massive search business allowed it to seamlessly incorporate generative AI into its Google search results.
Source Fool.com
Alphabet Inc. A Stock
With 93 Buy predictions and not a single Sell prediction Alphabet Inc. A is an absolute favorite of our community.
With a target price of 177 € there is a slightly positive potential of 15.9% for Alphabet Inc. A compared to the current price of 152.72 €.
