The recent advancements in artificial intelligence (AI) have sparked a renewed sense of optimism in the stock market. Despite concerns over job reports in the United States, investors have once again begun trading in a manner that has led to […]
The recent advancements in artificial intelligence (AI) have sparked a renewed sense of optimism in the stock market. Despite concerns over job reports in the United States, investors have once again begun trading in a manner that has led to a 45% increase in the Nasdaq 100 index this year. The optimism surrounding AI has been revitalized after Google announced Gemini, its largest and most powerful AI model to date. Additionally, Advanced Micro Devices Inc. experienced significant growth following the announcement that their new chips would accelerate AI faster than competitor products.
The Nasdaq 100 index has seen a 1.5% increase, halting the decline of the S&P 500 index. Treasury yields have slightly risen, and the Japanese central bank’s profit has strengthened the yen by over 2%, while the dollar has weakened.
According to wealth management expert Yung-Yu Ma from BMO Wealth Management, AI has the potential to significantly increase productivity in the coming years. “Resilience, adaptability, and innovation were the hallmarks of the 2023 economy, and we believe these factors will persist into 2024,” said Ma.
Q: How has the advancement of artificial intelligence affected the stock market?
A: It is believed that further development in artificial intelligence will lead to the growth of the stock market, as evidenced by the increase in the Nasdaq 100 index this year.
Q: Which companies have benefited the most from the advancement of artificial intelligence?
A: Alphabet Inc., the parent company of Google, experienced a surge in stock value after the announcement of their latest and most powerful AI model, Gemini. Additionally, Advanced Micro Devices Inc. has announced accelerated AI capabilities through their new acceleration chips.
Q: What are the prospects for the future stock market?
A: Despite challenges, optimism regarding artificial intelligence and the potential for stock market growth remains high. However, risks are still present and sensitive to changes in interest rates and other factors.