- Companies are starting to invest and investors are frustrated with intelligence.
- The release of ChatGPT in November has made investors interested in the opportunity, sending some stocks soaring.
- Even companies that don’t have a business in AI have seen shares increase in trend-related news.
Investors love a good virus to get their teeth into, and that’s now showing up amid the buyside frenzy for anything related to intelligence, or the media industry. struggling information or small software companies.
Since OpenAI released ChatGPT in November, investors have become increasingly interested in the potential of artificial intelligence to transform entire industries (not to mention huge amounts of money).
ChatGPT is a natural language chat that allows users to have human-like conversations on a wide range of topics. Just two months after its launch, ChatGPT users are using the platform to help write emails, code, and answer questions on topics ranging from dating to investing.
As is often the natural course of these processes, ChatGPT and AI have captured the attention of Wall Street, and companies are starting to invest.
C3.ai said in a press release on Tuesday that it will include ChatGPT in its company product offerings. The stock is up 22%, and another 9% today. Although C3.ai has always focused on artificial intelligence, the announcement on Tuesday and the subsequent pop in the shares showed that investors are hungry for any shiny new and this space.
Buzzfeed is another example. A digital media company known for its viral queries and listings said it would use ChatGPT to create personalized content for its readers, and like clockwork, its stock quadrupled in two days. The stock is down 48% from its most recent high.
Even some of the more obscure and only vague AI titles get a boost from the hype. On Wednesday, Versus Systems, a small software company with a market cap of about $7 million, saw its stock rise 400% in its rankings and companies with some focus on AI, although Versus itself there is no visible business in the sky. .
Just as the 1960s saw a wave of companies eager to associate themselves with consumer electronics by adding the “tron” suffix to their names, the 1990s saw a wave of .com branding, and between The 2010s rocked the blockchain business (remember Long Island). Blockchain?), the world in 2023 sees a new gold rush in the west of AI.
Metaverse is another good example of a market jumping the shark in the startup process. Last year, investors turned to anything related to Web3, only to achieve their dream of a virtual economy through the development of the real economy. Metaverse demand is heating up as the economy is getting stronger and rumors are swirling well in the region.
Now, the promise (and, to be honest, real) of ChatGPT, intelligence is the bright new thing of the market.
There is no doubt that artificial intelligence will be a game changer in the coming years, and there will be many champions in the space, but according to recent crazes such as the speed of years ago in the metaverse, investors today may still want to. The big promise of AI with a big grain of salt.