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Barchart
Barchart
Rich Asplund

Artificial Intelligence Discussion a Factor in Stock Performance

Artificial Intelligence United States Alphabet

Top company executives are mentioning artificial intelligence (AI) this earnings season, which has become a factor in determining companies’ stock performance. According to transcripts analyzed by Bloomberg, there have been around 1,600 mentions of AI by U.S. and European companies in this season’s quarterly conference calls, a record number. 

Interest in AI has soared since the launch of OpenAI’s ChatGPT in November, with technology companies rushing to bring out competing chat tools and microchips to power them. Societe Generale said, “The AI boom and hype is so strong that without AI-popular stocks, the S&P 500 ($SPX) (SPY) would be down -2% this year, not up +8%.” Also, over the past six months, there’s been a +37% increase in assets under management for the top Artificial Intelligence exchange-traded funds.

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