Outside the Box: Microsoft just became the hottest name in AI, but Google, NVIDIA, IBM and other rivals are turning up the heat

by | Feb 16, 2023 | Stock Market

The hottest name in AI? Microsoft
With its recent investment in OpenAI, best known for its chatbot ChatGPT3 that is taking the world by storm, Microsoft has shown its commitment to leading the age of artificial intelligence.  With all the headlines about Microsoft’s rapid ascent in AI, it isn’t a surprise that investors are excited about its prospects. With Microsoft’s Bing sitting at around 7% of the search market, Microsoft shared with investors recently that it estimated an additional $2 billion a year in revenue per 1% gain in market share. That’s a massive opportunity for Microsoft.

Yet demand for AI is expected to grow at close to a 20% compound annual growth rate, and Microsoft isn’t the only bet for investors looking to ride the AI wave long-term.  Here are three more companies making significant AI investments that investors should follow.  Alphabet: If Microsoft was the winner of the past few weeks, it was mainly at Alphabet’s
Google’s expense. But anyone calling the Microsoft vs. Google race over at this point is doing so at their own risk. While Microsoft is on the front foot and has showed off some incredible technology — putting Google’s search empire at risk for the first time in more than two decades, don’t expect Google to stand still and wait for Microsoft to take significant market share. Instead, the company announced Bard, its next-generation ChatGPT competitor, and is beginning a wave of announcements to contest the recent Microsoft updates. Google has been actively investing i …

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