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Many stocks operating in the artificial intelligence (AI) space have had a remarkable run in 2023, thanks to both increased adoption of the technology and optimistic forecasts about future use cases. ChatGPT backer Microsoft (MSFT) is up 41% year-to-date (YTD), while Google (GOOGL) - whose generative AI platform competes with ChatGPT - is up 48.8% YTD. Elsewhere, Nvidia's (NVDA) impressive AI-fueled rally of 226% YTD has been one of the highlights of the industry this year, as it became only the seventh U.S. company to cross the $1 trillion market cap milestone.
However, one relatively small AI stock has outperformed all of these tech giants in terms of share price performance. Shares of C3.ai (AI) have gained an incredible 255.3% in 2023, driven by positive buzz around the continued and growing implementation of AI-enabled solutions among businesses.
