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The rapid adoption of artificial intelligence (AI) technologies has gained significant momentum since the start of 2023. The mainstream launch of ChatGPT in late 2022 captured the imagination of investors and consumers globally, highlighting the massive potential of generative AI technologies.
Several companies are investing heavily to gain an edge in the AI race, a market that industry estimates predict could grow to nearly $2 trillion by the end of the current decade. The explosion of AI-based platforms has increased the demand for the high-end semiconductor chips, such as graphics processing units (GPUs), required to power these technologies. As a result, chip stocks such as Nvidia (NVDA) and Advanced Micro Devices (AMD) are now top investment options.
