AI Has Helped These 5 Growth Stocks (Not Named Nvidia) Double So Far in 2023. Is There More to Come?
There's little question that 2023 marks a coming-out party for artificial intelligence (AI). The public debut of ChatGPT helped illustrate the wide and various use cases for generative AI, sparking the imagination of the public and businesses alike.
The subsequent gold rush for all things AI has investors scrambling to profit from the massive potential afforded by the technology. They might just be on to something. One of the more bullish prognostications comes courtesy of Cathie Wood's Ark Investment Management, which estimates that the global AI software market could represent a $14 trillion opportunity by 2030.
Chipmaker Nvidia has captured most of the headlines, as its semiconductors are used to provide the computing horsepower necessary to run AI systems. As a result, the company forecast 64% year-over-year revenue growth in the current quarter.
Source Fool.com
