Why Artificial Intelligence (AI) Stocks Meta Platforms, Amazon, and Alphabet Rallied Monday Morning
After plunging deeply into bear market territory in 2022, this year started in stark contrast to its predecessor. Each of the major market indexes charged more than 20% higher from their respective bear market lows and are currently taking a breather before attempting their next leg higher. Market watchers generally agree that excitement regarding recent advancements in artificial intelligence (AI) have helped fuel the rally, but the initial fervor has given way to more realistic expectations about the timeline, despite the accelerating adoption of AI.
With that as a backdrop, several of the biggest adopters of generative AI were rallying on Monday morning. Amazon (NASDAQ: AMZN) had jumped 2.9%, Meta Platforms (NASDAQ: META) had climbed 1.8%, and (NASDAQ: GOOGL) (NASDAQ: GOOG) had risen 1.7% as of 12:56 p.m. ET.
While today's general market rally helped fuel the rise, the impact of AI on big tech is becoming increasingly evident.
Source Fool.com
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