Better Artificial Intelligence (AI) Stock: Alphabet vs. Amazon
It's not often that a single market is able to reverse the effects of an overall market downturn. While it didn't work completely alone, the artificial intelligence (AI) industry was one of the leading growth drivers in the stock market's recovery in 2023.
In 2022, macroeconomic headwinds saw the Nasdaq Composite plunge 33%. However, the same index has surged 42% since Jan. 1, almost wholly based on excitement over AI. The launch of OpenAI's ChatGPT in November 2022 reignited interest in the technology and has seen countless tech firms pivot their businesses to the sector.
As a result, the AI market is projected to deliver a compound annual growth rate of 37% through 2030 (per Grand View Research). Despite bull runs for many AI stocks this year, there are still some attractive opportunities to invest in the $137 billion industry.
Source Fool.com
