The artificial intelligence story has been explosive.
Apple (SYM: AAPL) is reportedly nearing a deal with OpenAI to put ChatGPT on iPhones.
In fact, as noted by Wedbush analyst Dan Ives:
“They expect the OpenAI partnership to be formally unveiled at the Worldwide Developers Conference, or WWDC, from June 10. They expect it could consist of an OpenAI Chatbot with exclusive features that build upon — on-device Apple large language models, or LLMs, and cloud-powered Apple LLMs along with Apple powering AI on its own high-end chips.”
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Not only is that generating excitement for Apple, but also for stocks, such as: Company: NVIDIA (SYM: NVDA) Analysts at HSBC say investors are still significantly underestimating the earnings potential of the semiconductor company and artificial-intelligence play. The firm also reiterated its buy rating on the stock, raising their price target on NVDA to $1,350 from $1,050. |
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Company: SoundHound AI (SYM: SOUN) This is the company that provides voice control and audio analytics software to auto makers, drive-through restaurants, and other businesses with phone-based menu systems. Better, one of its biggest investors is Nvidia, which invested about $3.7 million in the company. The investment arm of SoftBank also invested $2.3 million in SOUN. While those are small investments, it says a lot that industry giants are jumping in. In addition, analysts at Wedbush just said SOUN is “well-positioned” to capitalize on the demand for AI chatbots as it partners with various companies, including restaurants. |
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ETF: Global X Robotics & Artificial Intelligence ETF (SYM: BOTZ) Or, you can always diversify with an ETF, such as the Global X Robotics & Artificial Intelligence ETF (SYM: BOTZ). With an expense ratio of 0.68%, the ETF invests in companies that potentially stand to benefit from increased adoption and utilization of robotics and artificial intelligence (AI). |
