2 Under-the-Radar Tech Companies That Will Benefit From the AI Boom
All anyone can talk about right now is artificial intelligence (AI). Nvidia, the leading chipmaker that powers AI computing, has seen its stock nearly triple this year and recently hit a market capitalization of $1 trillion. and Alphabet are investing heavily in a plethora of AI tools, which has their share prices soaring as well. Over a trillion dollars in market value have been added to the big technology stocks this year, all because of AI.
Investors seem to have a feverish optimism about the profit potential for AI and how it could impact the market this decade. But there are other companies besides Nvidia, Alphabet, and that will use artificial intelligence to great effect. Here's why online dating leader Match Group (NASDAQ: MTCH) and audio streamer Spotify Technology (NYSE: SPOT) will benefit from the current AI boom.
Match Group is the company behind almost every popular dating application worldwide. From Tinder and Hinge to legacy brands like Match.com and Plenty of Fish, Match Group is the key intermediary -- especially for young people -- for finding dates and romantic encounters. Around 16 million people last quarter paid for a premium service across Match Group's products.
Source Fool.com
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