Artificial intelligence is the latest tech flavor of the month.
Industry giants Google, Microsoft and China’s Baidu have all had big AI announcements in recent days, as ChatGPT bot mania is taking the corporate world by storm.
All of this AI news has helped boost shares of Baidu (BIDU), Microsoft (MSFT) and Google owner Alphabet (GOOGL) this year. However, Alphabet (GOOGL) tumbled Wednesday following a rocky demo of Bard, its rival to ChatGPT.
Traders have also been bidding up the stocks of much smaller, unprofitable companies that are trying to make a name for themselves in the AI arms race.
Take a look at C3.ai. Shares of the artificial intelligence software company have more than doubled this year, to about $26. Having secured the super-relevant and easy-to-remember ticker symbol of “AI” probably helps attract investors. And so does the fact that the company is run by tech veteran Tom Siebel, who sold his eponymous Siebel Systems software company to Oracle (ORCL) in 2006.
Read more here: https://edition.cnn.com/2023/02/09/investing/ai-stocks-c3-soundhound-bigbear
