Companies Using ChatGPT Are Attracting the Attention of Investors3-min read

Chatgpt Technology Is Becoming Popular Among Tech Firms That Seek to Incorporate New AI Tools, and Its Usage Is Attracting Investors Who Are Seeking New Stocks.

Tech companies are always looking for ways to improve, so when a new tool, or tools, emerge, many of the more innovative firms try to find a way to incorporate it into their existing technologies. These days, AI tools are a major hit among companies, especially when it comes to OpenAI’s ChatGPT.

OpenAI introduced ChatGPT by saying that it trained this model to interact in a conversational way. The dialogue format makes it possible for the bot to not only answer questions but also to understand follow-up questions and connect them to the original topic, thus providing accurate answers to even less-than-accurate questions.

After the groundbreaking success of ChatGPT, we can only imagine where OpenAI is going next.

The bot is even capable of admitting its mistakes, challenging incorrect premises, as well as rejecting inappropriate requests. This has impressed technology companies but also investors who are now actively seeking to find the best ChatGPT stocks out there.

Chatgpt Becomes the New Hit Among Tech Firms and Investors

Interest in these stocks is not surprising. Natural language processing and AI are constantly advancing, and many believe that this is the technology of the future. A capable chatbot could be a perfect tool for customer support services, capable of processing data and responding to questions instantly, thus removing the need for customers to wait. Bots in customer service are not a new thing, but the ones used until now have been fairly limited.

With ChatGPT hitting the market, many firms have engaged in developing and implementing both this tool, as well as other similar technologies. Right now, even some of the largest and most popular firms are on the list of most sought-after stocks, including Nvidia, Alphabet, Microsoft, Amazon, International Business Machines, Intel, Meta Platforms, Baidu, and Salesforce, among others.

AI Is Taking Over Investors’ Interest

Artificial Intelligence is rapidly becoming the main buzzword on Wall Street, and investors are taking notice. Shares of firms like C3.ai Inc, BigBear.ai, and SoundHound AI have seen a major rally recently, which extended on Monday. Reports suggest that C3.ai saw an 11% increase at the start of this week, while BigBear.ai jumped by nearly 21% during the same period.

SoundHound AI surged the most, seeing a 40% increase. These and other similar firms gathered the attention despite being small-cap companies. One of the Triple D Trading traders, Dennis Dick, stated that any firm that even mentions ChatGPT or something about AI is seeing a similar rally, as the tool seemingly captivated the financial industry. With many investors already involved in quant funds and other forms of automated trading, this is far from a surprise.

The tool even managed to draw in a multi-billion dollar investment from Microsoft, triggering massive demand for AI-developing firms.

As for ChatGPT itself, it also attracted users, with estimates saying that it reached 100 million active monthly users in January 2023, making it one of the fastest-growing tools on the internet in history. Given that this demand emerged only two months after the tool’s launch makes it that much more impressive.