Goldman Sachs: AI Stock Boom Has Room to Run in 4 Phases
• Phase 1 focused on AI chip maker Nvidia, whose stock has surged 77% in 2023 • Phase 2 will be companies involved in building AI infrastructure like Microsoft, Amazon, and Cisco • Phase 3 will see stocks rise for companies with AI-enabled products like Meta, Adobe, and Uber • Phase 4 will focus on companies seeing productivity gains from adopting AI like Match Group and Expedia • While some see an AI bubble, Goldman Sachs says AI stocks still have room to grow across these phases