AI and Cloud Giants Positioned to Capitalize on Generative AI Explosion Despite Recent Stock Slumps
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Artificial intelligence (AI) is expected to continue dominating the stock market in 2024, with shortages in AI chips and components.
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Most tech CEOs believe generative AI will be as transformative as the internet.
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Snowflake's cloud data platform helps businesses combine and analyze data to create smarter AI models. Its stock is down 54% from its all-time high.
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Oracle provides database software and cloud infrastructure services valuable for training AI models. Its cloud revenue grew 25% last quarter.
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Oracle plans to double its data centers to meet "astronomical" demand for its cloud infrastructure and generative AI services. Its stock is down 19% from its peak.