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Barchart
Barchart
Puja Tayal

3 Overvalued AI Stocks to Avoid, According to Wall Street

Palantir C3Ai Artificial Intelligence Foundry United States Upstart

Since the launch of ChatGPT in November of last year, stocks involved and related to Artificial Intelligence (AI) have been on a tear. McKinsey & Company’s report titled "The Economic Potential of Generative AI" estimates that generative AI could add $2.6 trillion to $4.4 trillion to the global economy.

The rally in AI stocks has been led by Nvdia (NVDA) , which is up 192% year-to-date (YTD). Microsoft (MSFT) has also surged, up 42% in 2023.

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