Where Will Amazon Stock Be in 3 Years?
Three years ago, OpenAI's ChatGPT hit the scene, spurring a new industry called generative artificial intelligence (AI) that's revolutionizing the way companies do business. Amazon (NASDAQ: AMZN) already incorporated this technology into many aspects of its operations, and investors can expect to see the effects of this transition over the next three years. Let's dig deeper to see how this story might play out for the stock.
At first, it seemed like generative AI might be more hype than substance, but those fears are now convincingly put to rest. We no longer need to rely on Wall Street's analyst projections to see what is happening. The tech is already creating boatloads of shareholder value for early movers.
CNBC reports that AI industry leader OpenAI has hit annual recurring revenue of $10 billion per year. A recent $40 billion private funding round puts its valuation near $300 billion, making it one of the world's most valuable private businesses. The good news is that, despite not being a pure-play generative AI company, Amazon has plenty of ways to tap into this monumental value-creation opportunity.
Source Fool.com
