AI is causing a big market boom right now, but that boom also seems to be concentrated in mega-cap tech stocks.

SEOUL, South Korea - June 20, 2023 - PRLog -- Investors have recently shown a deeper curiosity about the potential of artificial intelligence (AI).

The reason behind this interest is that the recent upturn in the stock market has been mostly driven by a handful of mega-cap tech stocks such as Alphabet, Meta, Apple, Amazon, and Nvidia. This has resulted in the tech-heavy Nasdaq being up almost 25% more than other markets.

The advisor's at Core Asset Wealth Management have come up with a short-list of some artificial technology stocks to watch this year.

Microsoft Corp (Up 8.3% over may)

Software giant Microsoft invested $1 billion in OpenAI in 2019 as part of a partnership that made Microsoft Azure OpenAI's exclusive cloud provider, and it announced a new multi-year, multi billion-dollar investment in OpenAI in January 2023.

Alphabet Inc (Up 5.9% over may)

Google and YouTube parent company Alphabet uses AI and automation in virtually every facet of its business, from ad pricing to content promotion to Gmail spam filters. Google launched its Bard AI chat-bot in March, and Post says AI could help expand the internet search use case, creating opportunities for improved advertising relevance and performance.

Nvidia Corp (Up 12.7% over may)

High-end chip maker Nvidia provides the massive processing power needed to run advanced AI applications. Analyst Vivek Arya says Nvidia is the "picks and shovels leader in the AI gold rush." He projects a $50 to $60 billion total addressable market in AI accelerators by 2027.

Meta Platforms Inc (Up 23.7% over may)

Meta Platforms is a market leader in social media and online advertising and is the owner of Facebook, Instagram and other platforms. Post says Meta's investments in GPU technology to support its AI development turned him bullish on the stock in early 2023.

Baidu Inc (Up 79.3% over may)

Baidu is the leading Chinese internet search provider. The company also has several other businesses, such as its majority stake in streaming video platform iQiyi Inc. and its AI and cloud businesses. In late March, Baidu officially launched ERNIE, its enterprise-scale, large language model chat-bot service.

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