AI Driving Growth for Top Tech Stocks Despite Recent Pullbacks
• AI dominated the stock market in 2022 and is expected to continue driving growth in 2023. There is strong demand for AI chips and components.
• Snowflake's data platform helps businesses combine data from multiple clouds to generate insights and build smarter AI models. Its stock price is down 54% from all-time highs.
• Oracle provides database software and cloud infrastructure services critical for training AI models. Its cloud business is growing over 25% annually. The stock is down 19% from recent peaks.
• Both Snowflake and Oracle stand to benefit from surging demand for AI capabilities. Their stocks look attractively valued for the coming AI boom.
• Microsoft and Alphabet are also positioned to capitalize on AI growth trends. Chipmakers like Nvidia enable AI model training.