Proactive Investors - Artificial intelligence (AI) investments have surged during the past year, with new research by Forex Suggest revealing the 10 largest market capitalization increases for AI stocks in 2023, and which AI-related company is on track to reach a trillion-dollar valuation quickest.
#1 Upstart (NASDAQ:UPST) Holdings Inc: 100% increase in market cap (from August 2022 to August 2023)
Upstart, which partners with banks to provide credit services, uses machine learning and AI to assess borrowers on a range of non-traditional data points, using this data to provide higher approval rates and lower interest loans.
#2 C3.ai Inc (NYSE:AI): 93.4% increase in market cap
C3 AI was originally founded to provide businesses with AI-powered solutions to reduce corporate carbon footprints. It now provides a suite of AI-powered applications for enterprises, helping with a range of issues from supply chain optimization to financial services.
#3 Palantir Technologies Inc (NYSE:PLTR): 64.6% increase in market cap
Palantir recently launched its own large language model that can be trained on the customer’s own data. This means it can avoid mistakes and false answers that plague other large language models.
#4 Trade Desk Inc DRC (BVMF:T2TD34): 61.6% increase in market cap
Trade Desk specializes in real-time programmatic marketing automation technologies, products, and services, designed to personalize digital content delivery to users.
#5 General Electric (NYSE:GE) Co: 50.9% increase in market cap
GE has started using its own AI platform to reduce the time spent testing its products using computer modelling. It also hopes this AI can be used to create real-time analytics for engineers in the field.
#6 Oracle Corporation (NYSE:ORCL): 50.7% increase in market cap
Oracle offers prebuilt machine-learning models to developers, making it easier to apply AI in business, as it can be trained for a range of operations, from chatbots to extracting data. Oracle Corp is on track to be the first AI company to reach $1 trillion, reaching an estimated market cap of $1.8 trillion by 2030.
#7 SAP SE (ETR:SAPG): 48.3% increase in market cap
SAP SE is a German multinational software company that develops enterprise software to manage business operations and customer relations.
#8 Aurora Innovation Inc (NASDAQ:AUR)c: 47.9% increase in market cap
Aurora is a self-driving vehicle technology company that has developed the Aurora Driver, a computer system that can be integrated into cars for autonomous driving.
#9 Rockwell Automation (NYSE:ROK) Inc: 17.2% increase in market cap
Rockwell is a provider of industrial automation and digital transformation technologies with brands that include Allen-Bradley, FactoryTalk software and LifecycleIQ Services.
#10 Dynatrace Holdings LLC (NYSE:DT): 15.8% increase in market cap
Dynatrace provides a software observability platform based on artificial intelligence and automation.