Hey Guys,
So I wanted to talk a bit about A.I. and stocks. A great GenZ finance writer wrote a guest blog on this very topic for me re: 🦾 AI Hype in the Stock Market. You can follow his Newsletter here:
So the story of BuzzFeed and A.I. was insane, until it literally became a meme stock. A penny stock doing its thing. It went from $0.90 on January 24th, to $3.87 on January 27th, that’s a bit jump. But it didn’t end there, a huge variety of companies claiming A.I. and A.I. upgrades have also seen the influence. BZFD 0.00%↑
Another major example of this is a company I actually rather like, and that is Baidu. Baidu not only has the most likely winner or robo-taxis in China, it has its own version of ChatGPT coming to its Search called Ernie, I wrote about this here. Bidu is also benefiting from the Chinese reopening and stimulus there. BIDU 0.00%↑
Baidu was $76.57 on October 31st, today it’s $162.22. There are lots more examples of this of how this “fake” bull-market combined with ChatGPT hype to produce some pretty weird and major moves. I hope you caught some of it.
Another good example is C3.AI. Cathy Wood is at it again. Ark Invest just released a mind-boggling prediction for the artificial intelligence (AI) industry as part of its "Big Ideas 2023" report. So when C3.AI AI 0.00%↑ launched their Generative A.I. suite platform, the stock took a major jump.
The stock was $10.26 on December 28th, 2022. Today guess where it is at? $25.49 pre-market. So these are pretty crazy movements.
Artificial Intelligence (A.I.) has garnered widespread attention from users and investors after the viral rollout of the AI-powered chatbot ChatGPT. This has rubbed off on pretty much dozens of companies and their stock and they are trading due to the “enthusiasm”.
Around two weeks ago BuzzFeed said it will use AI tools from OpenAI to personalize its content. CNET said it was using AI for a long time to produce articles more cheaply, it turns out they were pretty bad. An incredible related piece is Opinion | Why I Welcome Our Future AI Overlords. So this op-ed really caught my attention because in the decline journalism and automation of newsrooms, advertising, content and media, there may really be a bloodbath this time around.
But who is actually really going to benefit? Will it be Microsoft who is rolling out ChatGPT GPT-4 like features into its products? Or will it be other Generative A.I. companies who are getting more cozy to Google like Anthropic.AI and cohere, among so many other potential public companies? Google is launching Bard and today we are going to hear more about it at their presentation, don’t miss it soon. Click the image:
Or catch it here in about an hour:
I’m not one to trust a sizzling rally but combined with A.I. hype it could have been profitable had you been paying attention.
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