Investors have been flocking to chipmaker Nvidia in recent years due to the growing interest in artificial intelligence. The company briefly became the world’s most valuable company as a result. However, other companies in the AI supply chain have also seen significant increases in their share prices over the past 18 months.
Major software companies are also benefiting from the implementation of AI in large organizations, driving business and revenue growth. Some analysts have drawn comparisons between the current AI hype and the dot-com bubble of the late 1990s, where many Internet startups experienced rapid investment gains before collapsing.
But this time, the interest in AI is focused on a smaller number of established technology companies that are already seeing significant corporate spending in the sector. Chirag Dekate, a vice president and analyst at Gartner, noted that the impact of generative AI is more targeted and specific, with certain companies providing the foundational technology for AI development.
Some publicly traded companies that are currently attracting investors interested in AI include those in the hardware supply chain and major software providers. As AI continues to evolve and be integrated into various industries, these companies are expected to see continued growth and investment in the coming years.
Overall, the AI industry is experiencing a surge in interest and investment, with established technology companies at the forefront of this growth. As the technology continues to advance and become more integrated into everyday life, these companies are well-positioned to benefit from the increasing demand for AI solutions across various sectors.
Article Source
https://www.washingtonpost.com/technology/2024/06/27/ai-stocks-to-watch/