Billionaires Bill Gates, Eric Schmidt, and Reid Hoffman Joined Will.i.am, Nvidia, and Microsoft in the Second-Biggest AI Start-up Funding of 2023
What a difference a year makes. 2022 marked the steepest stock market downturn since 2008. Fast-forward six months, and the major market indexes are all in the plus column, having each gained more than 20% from their respective bottoms. This suggests the onset of the next bull market, at least according to this one measure.
Yet there are still many questions about the state of the economy, the possibility of more interest rate hikes, and the potential for a mild recession. With all of that uncertainty, what's driving the market higher is expectations for runaway growth in technology stocks, fueled by the accelerating adoption of artificial intelligence (AI). It might be fair to say that 2023 is the year AI came of age.
It's not just everyday investors who have the bug. Billionaires, musical artists, and tech companies are all climbing aboard the AI train -- and one start-up, in particular, is attracting a lot of attention.
Source Fool.com
