Many companies are investing in artificial intelligence applications. While some artificial intelligence (AI) programs are used to make the relations of company employees with customers more efficient, in some sectors artificial intelligence is now replacing employees. Technology companies such as Microsoft, Meta and Google, which have been the producers of artificial intelligence applications since ChatGPT, DALL-E 2 and similar artificial intelligence applications were released, increase their profits, while the business people at their head increase their wealth. The interest in artificial intelligence has made the stocks of technology giants rise, especially for 2023. At the beginning of June, the Nasdaq stock market, which includes technology companies in the USA, increased by 20 percent, while the increase in the S&P 500 index was 12 percent on average.
While big technology giants such as Meta Platforms and Nvidia, which includes the social media platform Facebook, have already made big gains thanks to the artificial intelligence explosion, Microsoft, Google parent company Alphabet shares also rose. In addition, the value of technology giants Oracle and Apple increased. Mark Bartolini, an analyst at the US State Street Global Advisors research company, says that the returns in 2023, especially for Microsoft, Google, Apple, Nvidia and Amazon stocks, are the biggest returns in the last 20 years. Experts say that this interest in artificial intelligence is a harbinger of a big change in the technology world.
ARTIFICIAL INTELLIGENCE WORKED FOR ZUCKERBERG
On the other hand, while companies gain value thanks to artificial intelligence, the famous billionaires who own these companies increase their fortunes. Meta shares rose 134% in a year, thanks to both the rise of AI and Zuckerberg’s cuts to the company under the so-called ‘productivity year’. According to the Bloomberg billionaires index, this share increase increased Zuckerberg’s wealth by more than $58 billion in one year, placing him in 10th place with a fortune of $ 104 billion. Larry Ellison, the founder of another US technology giant Oracle, increased his fortune by $42 billion in one year thanks to the 55 percent gain of his technology stock. Ellison moved up to 4th place with a fortune of $134 billion and surpassed Microsoft founder Bill Gates for the first time.
However, Bill Gates also got his share of interest in artificial intelligence. Although he left all his duties at Microsoft, his fortune increased by $ 24 billion as his shares rose. Microsoft is also investing in Bing Chat or games with artificial intelligence.
And the personal wealth of Jensen Huang, the founder of chip maker Nvidia, the man at the head of one of the stock market’s biggest success stories in 2023, has also seen an increase of $24 billion, according to Bloomberg’s index. Again, the value of this largely tech giant Nvidia has increased 192 percent in one year to $1 trillion. The personal wealth of these 4 billionaires alone has increased by almost $150 billion in one year due to the interest in artificial intelligence.
‘NOT A BALLOON NOW…’
Analyst Mark Bartolini says that these investments in artificial intelligence are not a bubble for now. “If there was a bubble, you would see more retail investors using ETF structures or AI in their names to focus on specific themes,” Bartolini says.
Since the launch of Chat GPT, the artificial intelligence chat application developed by Open AI company, whose founder is the famous billionaire Elon Musk, interest in such applications has increased. In addition to Open AI, many programs such as Microsoft’s Bing and Google’s Bard were presented to users.
Such programs can perform the desired commands and answer the questions as if they were a human. He can write compositions, articles and even stories on the specified subject. In addition, artificial intelligence-based image creation programs such as Dall-E 2 designed by Open AI also enable the creation of the desired image.
Source: Business Insider, CNN
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