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AI-related companies lost $190 billion in stock market value late on Tuesday after Microsoft, Alphabet and Advanced Micro Devices delivered quarterly results that failed to impress investors who had sent their stocks soaring. The selloff following the tech giants' reports after the bell underscored investors' elevated expectations following an AI-fueled stock market rally in recent months that propelled their shares to record highs with the promise of incorporating the technology across the corporate landscape. Alphabet dropped 5.6% after the Google-parent's December-quarter ad revenue missed expectations. ....
(Bloomberg) For about a year, investors have bid up megacap tech shares on the theory that their exposure to artificial intelligence will usher in a new era of elevated growth and efficiency. Now the companies need to prove it.Most Read from BloombergMusk Says First Neuralink Patient Received Implant in BrainTraders Line Up for ‘Once-in-a-Generation’ Emerging Markets BetBlackstone Is Building a $25 Billion Empire of Power-Hungry Data CentersTrump Cash Stockpile at Risk From $450 Million Dual ....
Few would disagree that 2023 was, in the world of technology at least, dominated by artificial intelligence. The dictionaries have taken note in their "word of the year" lists, and notably all the AI-related words they highlight are, in fact, existing words that have been appropriated and regurgitated with new meanings. Cambridge's word is "hallucinate," which is of course the habit of generative AI models like ChatGPT to invent anything from dates to entire people rather than admit it doesn't know. ....
In this article, we will take a look at the 10 best AI penny stocks to buy now. To see more such companies, go directly to 5 Best AI Penny Stocks to Buy Now. The AI hype and news cycle does not show any signs of subsiding as companies keep announcing new products and services […] ....