After Nvidia's massive beat-and-raise report powered by its artificial intelligence initiatives, investors are on the lookout for the next catalysts likely to drive AI stocks in the months ahead.
Investment bank Morgan Stanley on Thursday detailed more than 10 upcoming events linked to artificial intelligence that could move AI stocks this year.
They include company events planned by Alphabet's Google, Amazon.com, and Facebook parent Meta Platforms.
"These catalysts are important to monitor as they may help the market better understand, size and analyze each company's AI opportunities and risks ahead," analyst Brian Nowak said in a note to clients.
Google, Meta Conferences Planned
First up is Alphabet's Google Cloud Next conference, which will run Tuesday through Thursday in San Francisco. A key component of the show will focus on generative AI advancements at Google.
Nowak expects Google to announce new generative AI offerings, as well as new and expanded partnerships in artificial intelligence.
Meta plans to tell customers about its AI advancements at its Meta Connect virtual event Sept. 27-28. The event will kick off with a keynote presentation by Chief Executive Mark Zuckerberg, who will discuss AI as well as virtual, mixed and augmented reality technologies.
"At Meta Connect, we look for Meta to introduce new user-facing AI tools such as LLM (large language model)-based chat experiences, and potentially new developer, creator and advertiser tools," Nowak said.
Those tools could lead to new drivers of engagement and monetization growth for the social media giant, he said.
AI Stocks On Tech Leaders List
Amazon is likely to unveil new generative-AI capabilities and services at its AWS re:Invent conference in Las Vegas. The five-day show begins Nov. 27.
But Nowak says he expects Amazon Web Services to provide greater clarity about its artificial intelligence capabilities and competitive advantages at the conference.
Morgan Stanley also noted upcoming events by Pinterest, Roblox, Snap and Unity Software.
IBD's Tech Leaders list includes a host of AI stocks. Among them are Alphabet, Amazon, Meta, Microsoft, Nvidia and Super Micro Computer.
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