Technology stocks had a good start in 2024, with the Nasdaq-100 Technology Sector index gaining more than 10% already, and artificial intelligence (AI) has been a driving force behind this rally.

Strong quarterly results from top AI names such as Nvidia lifted not only tech stocks but also the market as a whole, with both the Nasdaq and the S 500 indexes hitting new highs. The positive stock market sentiment seems to have rubbed off on internet browser provider Opera (NASDAQ: OPRA) as well.

Shares of the company shot up more than 15% on March 1 as investors reacted positively to its fourth-quarter 2023 earnings report. Let's see why the market gave the thumbs-up to Opera's results, and check why it could be an ideal alternative for investors looking to buy an AI stock that's not as expensive as Nvidia.

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Source Fool.com