To The Moon

🌟🌟🌟Many stocks operating in the Artificial Intelligence Space have had a remarkable run in 2023.  This is due to the increasing adoption of AI and optimism of its future growth. 

ChatGPT backer $Microsoft(MSFT)$ 

Is up 39% year to date

$Alphabet(GOOGL)$ 

Is up 53% year todate.  Its Generative AI platform competes with ChatGPT.

The Best performing AI stock is $NVIDIA Corp(NVDA)$ 

which is up 218% due to the high demand of its specialised chips used for AI machine learning.

$C3.ai, Inc.(AI)$ 

Is up 153% year todate

and $Palantir Technologies Inc.(PLTR)$ 

Is up 136% year to date.

Palantir builds software that empowers organisation to create and use AI across public and private networks.    It expects to remain profitable on both quarterly and annual basis in 2023 and hopes  to be included in the S&P500 Index after its financial results in Q3 2023 in November.

C3ai shares has recently tumbled 16% this week after its CEO Thomas Siebel said that it no longer expects to achieve quarterly profitability by the end of the year.  Instead C3ai is opting to invest in its Generative AI solutions.

The Rally in AI Stocks this year is a bet on the future growth in AI.  AI is here to stay and will transform our daily lives like never before.  So while I am short term bearish due to the current macro economic headwinds of slowing global economic growth, high inflation, I am Bullish on AI Stocks in the long term.    Patience and Time are required to allow these companies to realise their full potential in the future. 

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