AI Stocks: In Case You Missed These Developments In Artificial Intelligence
The earnings of major AI stocks next week will be closely watched by investors.
Elon Musk made headlines this past week for his plans to launch an artificial intelligence startup that would compete with OpenAI. Investors who are focusing on AI stocks will have a busy week next week with Microsoft's (MSFT), Alphabet, the parent company of Google (GOOGL), and Amazon.com. (AMZN) releasing their earnings.
Elon Musk, the founder of Tesla (TSLA) and Twitter, continues to advocate for AI regulation. Musk co-founded OpenAI, but left the company in 2018
Musk has now created a company that specializes in artificial intelligence called X.AI.
Musk told Fox News that he would start a project he called 'Truth-seeking AI', or a maximum truth seeking AI which tries to grasp the nature of universe.
Musk will have to deal with artificial intelligence as he manages Twitter, a social media company. Tesla shares fell this week following the electric vehicle maker's in-line earnings amid concerns over profit margins.
AI In Earnings News
Analysts covering AI stocks will undoubtedly bombard management at Microsoft and Amazon with questions about regulation and competition, when their earnings report is released. Microsoft and Google will report on April 25. Amazon will follow on April 27. Microsoft is OpenAI’s largest investor.
Apple's (AAPL) earnings aren't expected until May 4, amid questions about its AI strategy. Apple's AI strategy is viewed as being behind the curve in terms of chatbots and generative AI.
Atlassian Intelligence was also the big news from the software maker's TEAM user conference, which took place this week. The company uses OpenAI technology and large language models as the foundation of all its cloud products. Atlassian's earnings are due on May 4.
Data Center Chipmakers: AI Stocks
Vivek Arya, a chip industry analyst at Bank of America who published a report on April 19, commented on AI-related upgrades for internet data centers.
Arya stated that "Surging AI workloads" in cloud/enterprise/data centers could shift computing power/value away from traditional x86 based INTC/AMD CPUs and towards specialized accelerators.
Nvidia's AI roadmap is well-known to many investors. Broadcom (AVGO), and Marvell Technology(MRVL) are two AI stocks that have been overlooked.