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The rise of ChatGPT has sparked a frenzy for artificial intelligence stocks in 2023.
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A “jaw-dropping” earnings report from Nvidia was the latest catalyst to send AI stocks soaring.
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These are the 10 top-performing artificial intelligence stocks so far in 2023.
The promise of generative artificial intelligence through the use of chatbots like OpenAI’s ChatGPT and Alphabet’s Bard has fully caught the attention of Wall Street in 2023.
A recent earnings report from Nvidia, which included “jaw-dropping” revenue guidance thanks to its exposure to chips that enable AI, sparked a rush for AI stocks and helped add nearly $200 billion to Nvidia’s market value in a single day. The stock has gone on too rally to a $1 trillion market valuation for the first time ever.
It’s not just Nvidia that is soaring on the growing investor frenzy surrounding artificial intelligence. Companies across the semiconductor space like TSMC and Broadcomm have surged, as have software companies that help enable the design of semiconductors, like Cadence Design Systems and Synopsys.
These are the 10 best-performing artificial intelligence-related stocks so far this year, as of Tuesday afternoon.
10. Taiwan Semiconductor
Ticker: TSM
Market Value: $456.8 billion
Year-to-date gain: 37.8%
9. Microsoft
Ticker: MSFT
Market Value: $2.42 trillion
Year-to-date gain: 38.8%
8. Alphabet
Ticker: GOOGL
Market Value: $1.57 trillion
Year-to-date gain: 40.7%
7. Broadcom
Ticker: AVGO
Market Value: $303.9 billion
Year-to-date gain: 44.1%
6. Synopsys
Ticker: SNPS
Market Value: $66.1 billion
Year-to-date gain: 45.7%
5. Cadence Design Systems
Ticker: CDNS
Market Value: $61.2 billion
Year-to-date gain: 45.8%
4. Marvell Technology
Ticker: MRVL
Market Value: $42.5 billion
Year-to-date gain: 69.6%
3. AMD
Ticker: AMD
Market Value: $193.8 billion
Year-to-date gain: 94.9%
2. Nvidia
Ticker: NVDA
Market Value: $992.9 billion
Year-to-date gain: 94.9%
1. C3.ai
Ticker: AI
Market Value: $3.2 billion
Year-to-date gain: 260.8%
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