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The rise of ChatGPT has sparked a frenzy for AI stocks in 2023.
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A “breathtaking” earnings report from Nvidia was the latest catalyst to send AI stocks soaring.
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These are the 10 best 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 captured the full attention of Wall Street in 2023.
A recent earnings report from Nvidia, which included “breathtaking” revenue forecasts from its exposure to AI-enabled chips, sparked a run in AI stocks and helped add nearly $200 billion at Nvidia’s market value in a single day. The stock also reached a market valuation of $1 trillion for the first time ever.
It’s not just Nvidia riding high on the growing AI investor frenzy. Companies in the semiconductor space like TSMC and Broadcomm have exploded, as have software vendors that enable semiconductor design, like Cadence Design Systems and Synopsys.
These are the 10 best performing artificial intelligence stocks so far this year, as of Tuesday afternoon.
10. Taiwan semiconductor
Symbol: TSM
Market value: $456.8 billion
Gain since the beginning of the year: 37.8%
9.Microsoft
Symbol: MSFT
Market value: $2.42 billion
Gain since the beginning of the year: 38.8%
8. Alphabet letters
Symbol: GOOGL
Market value: $1.57 trillion
Gain since the beginning of the year: 40.7%
7.Broadcom
Symbol: AVGO
Market value: $303.9 billion
Gain since the beginning of the year: 44.1%
6. Synopsis
Code: SNPS
Market value: $66.1 billion
Gain since the beginning of the year: 45.7%
5. Cadence design systems
Symbol: CDNS
Market value: $61.2 billion
Gain since the beginning of the year: 45.8%
4. Marvell Technology
Symbol: MRVL
Market value: $42.5 billion
Gain since the beginning of the year: 69.6%
3. AMD
Symbol: AMD
Market value: $193.8 billion
Gain since the beginning of the year: 94.9%
2.Nvidia
Symbol: NVDA
Market value: $992.9 billion
Gain since the beginning of the year: 94.9%
1.C3.ai
Symbol: AI
Market value: $3.2 billion
Gain since the beginning of the year: 260.8%
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