There’s been a lot of buzz around ChatGPT as of late. With this AI potentially able to do everything from destroying the creative industry to turning teaching into a big wild goose chase for plagiarism, it’s no surprise investors are watching this area for opportunities like coffee-swilling hawks. Already, a couple of significant developments are in play and catching some real interest.
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First, there was C3ai (NASDAQ:AI). Just last week, it landed hefty gains from a D.A. Davidson commentary that gave it a lot of room to run. Investors put extra heat on the stock in Monday afternoon’s trading, thanks in large part to the commentary and an upcoming event with Google (NASDAQ:GOOG). Google’s event will address “using the power of AI” and probably some points on its own investment in the field.
Second, SoundHound (NASDAQ:SOUN) also made substantial advances, with the stock up over 20% at one point in Monday afternoon trading. SoundHound’s use of AI focuses on improving voice chat, so an AI conversation sounds more natural than what talking to a computer normally sounds like. A recent deal with Airmeez, a customer engagement tool, likely gave SoundHound a boost by demonstrating real-world use cases.
A look at the Global X Robotics & Artificial Intelligence ETF (BOTZ) demonstrates particularly well what’s going on in this industry. Over the last year, it was in a state of general decline until mid-October. That’s when a rally kicked in that’s been largely going on ever since. It’s still off its highs for the last year, but it’s already recovered sufficiently to the prices seen last May.
