Bloomberg Intelligence believes generative AI could soar to become a $1.3 trillion market by 2032 as more companies invest in their technical capabilities. How is Alphabet tackling the AI opportunity? The launch of OpenAI's generative AI chatbot, ChatGPT, initially raised concerns that Alphabet's Google Search could see its economic moat erode.
Recursion Pharmaceuticals (NASDAQ: RXRX) is a clinical stage company that mixes healthcare with technology and artificial intelligence (AI). Its drug discovery platform, Recursion OS, is the key to making the company a success. The company uses machine learning and believes it can help modernize drug discovery.
Over the past few years, investors have paid a growing amount of attention to semiconductor stocks. Advanced chips are powering an increasing number of products and services, including electric vehicles, cloud computing, consumer electronics, and artificial intelligence (AI), which is driving a demand boom across the industry. Axcelis Technologies (NASDAQ: ACLS) stock has surged 101% in 2023 so far, though it's down 21% since the beginning of August amid seasonal weakness in the broader market.