These are the 10 best performing AI stocks so far this year

0

The rise of ChatGPT has sparked a frenzy for artificial intelligence stocks in 2023.A “jaw-dropping” earnings report from Nvidia was the latest catalyst to send AI stocks soaring.These are the 10 top-performing artificial intelligence stocks so far in 2023.

The promise of generative artificial intelligence through the use of chatbots like OpenAI’s ChatGPT and Alphabet’s Bard has fully caught the attention of Wall Street in 2023.

A recent earnings report from Nvidia, which included “jaw-dropping” revenue guidance thanks to its exposure to chips that enable AI, sparked a rush for AI stocks and helped add nearly $200 billion to Nvidia’s market value in a single day. The stock has gone on too rally to a $1 trillion market valuation for the first time ever.

It’s not just Nvidia that is soaring on the growing investor frenzy surrounding artificial intelligence. Companies across the semiconductor space like TSMC and Broadcomm have surged, as have software companies that help enable the design of semiconductors, like Cadence Design Systems and Synopsys.

These are the 10 best-performing artificial intelligence-related stocks so far this year, as of Tuesday afternoon.

10. Taiwan Semiconductor

TSMC exhibition area at the World Semiconductor Congress 2022 in China.

Ticker: TSM
Market Value: $456.8 billion
Year-to-date gain: 37.8%

9. Microsoft

Satya Nadella, CEO of Microsoft.

Ticker: MSFT
Market Value: $2.42 trillion
Year-to-date gain: 38.8%

8. Alphabet

Sundar Pichai on stage at Google IO 2023

Ticker: GOOGL
Market Value: $1.57 trillion
Year-to-date gain: 40.7%

7. Broadcom

Ticker: AVGO
Market Value: $303.9 billion
Year-to-date gain: 44.1%

6. Synopsys

Ticker: SNPS
Market Value: $66.1 billion
Year-to-date gain: 45.7%

5. Cadence Design Systems

Ticker: CDNS
Market Value: $61.2 billion
Year-to-date gain: 45.8%

4. Marvell Technology

Headquarters of Marvell Technologies

Ticker: MRVL
Market Value: $42.5 billion
Year-to-date gain: 69.6%

3. AMD

AMD CEO Lisa Su

Ticker: AMD
Market Value: $193.8 billion
Year-to-date gain: 94.9%

2. Nvidia

Jensen Huang, CEO of Nvidia, reacts to a video at his keynote address at CES in Las Vegas

Ticker: NVDA
Market Value: $992.9 billion
Year-to-date gain: 94.9%

1. C3.ai

Ticker: AI
Market Value: $3.2 billion
Year-to-date gain: 260.8%

Read the original article on Business Insider

​Markets, MI Exclusive, Stock Market, Stock Market Analysis, stock market 2023, Artificial Intelligence, artificial intelligence stocks, AI, ChatGPT, nVidia  

Leave a Reply

Your email address will not be published. Required fields are marked *