Investments in AI technology continue to surge, with tech giants and startups showcasing strong growth potential
From Nasdaq: 2024-10-03 08:35:00
AI continues to dominate tech news as companies invest billions into the technology. Despite concerns of a bubble, tech giants like Amazon, Alphabet, Meta Platforms, and Microsoft spent $100 billion on AI in the first half of 2024. Nvidia’s CEO assures investors of strong demand for their AI chips, easing fears of an impending stock correction. OpenAI’s transition to a for-profit entity and $150 billion valuation highlight the growth potential of AI.
In the investment world, Zacks identifies five stocks set to double in 2024. Previous recommendations saw gains of up to 673%, with opportunities to invest in under-the-radar stocks. Accenture partners with Nvidia to leverage AI capabilities for innovation and efficiency. The market outlook on AI spending may fluctuate, but Nvidia’s product demand and OpenAI’s valuation suggest continued growth in the sector.
Read more at Nasdaq: AI News: Blackwell Demand, OpenAI Raise