It seems like everyone is rushing to cash in on the artificial intelligence (AI) craze unleashed by ChatGPT. This is especially true for companies in the technology industry. Companies from Microsoft to Google to China’s Baidu are all rushing to create the best chatbot.
No one yet knows what company, if any, will come out on top…although I’d say Microsoft is ahead early in this race.
However, no matter what company comes out on top in this race, there is already a group of tech firms that are big winners…
AI: Chip Companies to Benefit
Chipmakers are benefiting from booming demand for the semiconductors needed for chatbots. And they will continue to benefit, no matter who wins the AI race.
Nvidia’s (NVDA) shares jumped nearly 12% in the week following the release of the latest version of ChatGPT and are up about 95% since the start of the year to a new 52-week high.
The chip giant is not alone. Fellow chip company Advanced Micro Devices (AMD), chip manufacturer Taiwan Semiconductor Manufacturing (TSM), and chip tool maker Applied Materials (AMAT) have all seen substantial gains—50%, 25.5%, and 26.5% respectively—in share prices this year amid surging demand for AI-related chips.
Jensen Huang, founder and CEO of Nvidia, says this is just the start of a new era for the tech industry.
He told developers at the company’s annual GTC (global AI conference for developers) get-together in late March that “We are at the iPhone moment of…
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