Better Artificial Intelligence Stock: Cloudflare vs. Microsoft
Artificial intelligence (AI) applications have hit the spotlight of late following the popularity of Microsoft-backed (NASDAQ: MSFT) OpenAI's chatbot, ChatGPT, which was launched in November last year and has racked up an impressive user base within a short time. And unsurprisingly, several technology players are now in a race to accelerate their AI development.
Generative AI applications, such as chatbots, are expected to become the next hot thing in technology. Grand View Research estimates that the global generative AI market could grow at an annual pace of 34% through the end of the decade, generating over $109 billion in revenue in 2030. As a result, big tech players such as Microsoft have lined up massive investments in this space.
This race to develop generative AI applications could be a boon for Cloudflare (NYSE: NET), a cloud platform provider that uses a huge network of servers to "improve the security, performance, and reliability of anything connected to the Internet." But which of these two tech stocks that could take advantage of the lucrative generative AI market should you be buying? Let's find out.
Source Fool.com
