AI stocks were hot in the latest quarter.
The Motley Fool 5:30 pm on May 26, 2024
Microsoft has gained significantly due to its AI initiatives, attracting notable investors like Duquesne Family Office, Point72 Asset Management, and Bridgewater Associates. Alphabet is also making strides in competing with Microsoft's ChatGPT through AI developments such as Google's own chatbot, Gemini, and acquisitions like DeepMind.
- Investor Interest: Major investors have shown increased interest in both Microsoft (MSFT) and Alphabet (GOOGL/GOOG), with prominent stakes acquired by Duquesne Family Office, Point72 Asset Management, and Bridgewater Associates.
- AI Initiatives: Both companies have made significant advancements in AI technologies, such as Microsoft's ChatGPT and Alphabet's Gemini chatbot, alongside strategic acquisitions like DeepMind.
- Market Response: The market has responded positively to the companies' AI endeavors, with their stock prices increasing following these initiatives.
- Investment Strategy: Investors are actively engaging in buying Microsoft and Alphabet shares, as evidenced by significant first-quarter purchases from investment firms such as TCI Fund Management and Tudor Jones's Tudor Investment.
- Competitive Landscape: Both tech giants are leading the race in AI, with each company attempting to outdo the other, suggesting a continued interest from top investors.
https://www.fool.com/investing/2024/05/26/x-artificial-intelligence-ai-stocks-billionaires-a/
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