Investors are getting ready to wrap up 2023 and put a bow on it. It's been a banner year for stocks. If you've paid any attention to the stock market this year, you probably already know that artificial intelligence (AI) is a big reason why.

Excitement over generative AI has helped send tech stocks soaring this year, with AI chipmaker Nvidia more than tripling its stock price. Meanwhile, investors have pumped up stocks like Microsoft, , Oracle, and others with direct exposure to generative AI.

Through Dec. 20, the Nasdaq Composite (NASDAQINDEX: ^IXIC) is up 41.7% for the year, recouping most of 2022's losses when the index plunged 33%. If this year's gains hold, it will be the sixth time since the Nasdaq's founding in 1971 that the tech-heavy index gained more than 40% in a single year.

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Source Fool.com