Outstanding AI; Google, Microsoft and Cathie Wood drive hot tech trends
It’s only a month away, but 2023 is already the year when artificial intelligence will dominate corporate strategy and attract investors’ attention.
And this week shows that the biggest names among the big names in tech are pushing more of their resources into the nascent AI field in a near-miss, even as the market is still finding its footing. .
Microsoft (NASDAQ:MSFT) wasted very little time continuing to support the popular ChatGPT service from OpenAI. The software giant is said to be about to add an updated and faster version of ChatGPT into its own Bing search engine within a few weeks.
This will come after Microsoft (MSFT) add ChatGPT technology to its Azure cloud service and confirm it has done a invest many years, many billions in OpenAI, which Oppenheimer analyst Timothy Horan calls “iPhone moment” for AI technology.
C3.ai (NYSE:artificial intelligence), a software company called AI, continued its hot streak over the weekend as its stock rallied nearly 50% for the week, including a 20% gain on Friday. The company, led by longtime software executive Thomas Siebel, says it is launching a new set of products that use natural language to “quickly locate, retrieve and present all data relate to”. on an enterprise information system.
Meta Platform (NASDAQ:META) shares also rallied after fourth-quarter results, prompting Bank of America Securities analyst Justin Post to say that Facebook’s parents company can become a powerful game in “artificial intelligence many years [and] machine learning improvement cycle.”
Alphabet (NASDAQ:GOOG) CEO Sundar Pichai has no doubts about his thoughts on the importance of AI to his company’s future. During a conference call to discuss (GOOG) fourth-quarter results, Pichai says the company is in a “great position as AI reaches an inflection point.”
As proof of the Alphabet (GOOG) AI strategy, Google set a plan held an event on February 8 about “using the power of AI”. And reports surfaced on Friday that Google is investing $300 million into AI startup Anthropic.
Prominent investor Cathie Wood supported the AI industry when her Ark Invest fund used its “Big Ideas 2023” report to highlight the importance of AI in the years to come. Wood report says market value of disruptive innovation platforms could grow from $13 trillion today to $200 trillion by 2030.