Stimulated by ChatGPT, American AI shares rose sharply
According to news in the morning of February 7, Beijing time, AI has become a new favorite on Wall Street because of the success of ChatGPT, with many retail investors betting. Shares of stocks such as C3.ai, BigBear.ai and SoundHound rose sharply on Monday.
Shares of C3.ai, a software company, rose 11 per cent, analytics firm BigBear.ai rose nearly 21 per cent, and dialogue AI developer SoundHound soared nearly 40 per cent.
"any company that mentions ChatGPT or anything like AI is going up," said Dennis Dick, a trader at trading platform Triple D Trading. "ChatGPT is a hot word of the month."
Earlier, OpenAI, an artificial intelligence company owned by Microsoft, developed ChatGPT and made a huge investment. Driven by ChatGPT, investors are looking for AI investment opportunities.
The number of monthly active users of ChatGPT is expected to reach 100 million in January, UBS said in a report. ChatGPT has become the fastest-growing consumer app in history just a few months after its launch.
Valuations of C3.ai and SoundHound have doubled this year, and BigBear.ai has soared by more than 700%. The surge in these AI stocks is mainly due to the influx of investors who value long-term investment opportunities.
