AI Stocks Soar to New Highs: Trends, Big Moves & What Analysts Predict Next
The stock market is in the midst of an AI-fueled rally, with artificial intelligence now seen as the next transformative tech revolution for businesses and investors. Since the debut of OpenAI’s ChatGPT in late 2022 – heralded by Nvidia’s CEO Jensen Huang as the “iPhone moment” of AI sharewise.com – investor enthusiasm for AI has reached a fever pitch. In 2023 and 2024, a handful of tech giants best positioned to benefit from the AI boom drove a disproportionate share of market gains indexes.morningstar.com indexes.morningstar.com. The S&P 500’s “Magnificent Seven” – companies like Apple, Microsoft, Alphabet, Amazon, Nvidia, Tesla, and Meta – now make up nearly 35% of the index’s market cap and have powered over 70% of its returns since the start of 2023 itiger.com. This concentration reflects how AI winners have led the market, while many other stocks lagged indexes.morningstar.com indexes.morningstar.com.