AI 'Is Going To Be The Next Goldrush': Analyst Breaks Down Huge Artificial Intelligence Opportunities In 2024
Portfolio Pulse from Neil Dennis
Ivan Feinseth of Tigress Financial predicts AI will be the next goldrush, with every company needing to deploy AI for various business efficiencies. He quotes Tom Siebel of C3.ai, a company Feinseth invests in. Feinseth holds stocks in 'hyperscalers' like Amazon, Alphabet, and Microsoft, as well as smaller companies like MongoDB, Monday.Com, and C3.ai. He doesn't see AI as a job threat but as a tool for increased efficiency and creativity. Feinseth also sees growth potential in Intel due to its investment in new foundries and interest from companies like Apple and Nvidia.
January 05, 2024 | 6:14 pm
News sentiment analysis
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POSITIVE IMPACT
Apple has expressed interest in Intel Foundry Services, which could indicate potential collaboration or business opportunities.
Apple's interest in Intel's foundry capabilities could lead to new business for Intel and potential benefits for Apple's supply chain.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
Adobe is not seen as a threat to graphic designers' jobs due to AI, but rather as a tool to enhance their creativity and efficiency.
Adobe's position in the creative industry could be strengthened as AI is used to augment, not replace, human designers.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 50
POSITIVE IMPACT
C3.ai, led by CEO Tom Siebel, is highlighted as an enterprise AI application development platform that Feinseth likes and invests in.
C3.ai is directly mentioned as a company that will benefit from the AI boom, with a positive outlook from a senior partner at Tigress Financial.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Amazon is identified as one of the 'hyperscalers' capable of adapting to increased demand, which is likely to benefit from the AI boom.
Amazon's ability to scale and adapt to AI advancements positions it well for the anticipated growth in AI applications.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Alphabet, as a 'hyperscaler', is expected to easily adapt to the growing AI market, according to Feinseth.
Alphabet's strong position in the tech industry and its capacity for scaling make it a likely beneficiary of the AI trend.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Intel's significant investment in new foundries is seen as a growth driver, with interest from companies like Apple and Nvidia.
Intel's investment in foundries could position it as a key player in semiconductor manufacturing, especially as companies seek to diversify away from China.
CONFIDENCE 75
IMPORTANCE 65
RELEVANCE 70
POSITIVE IMPACT
MongoDB, a database software developer, is favored by Feinseth for its potential in the AI market.
MongoDB's specialization in database software could see increased demand as AI applications grow.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
Monday.Com, a project management software platform, is liked by Feinseth and may gain from the AI industry growth.
Monday.Com's project management solutions could integrate AI to enhance efficiency, making it attractive in the AI wave.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
Microsoft is included among the 'hyperscalers' that are well-positioned to benefit from the AI industry's expansion.
Microsoft's existing AI initiatives and its ability to meet rising demand suggest a positive outlook in the AI market.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Nvidia's interest in Intel Foundry Services could signal new business opportunities and collaborations.
Nvidia's consideration of Intel's foundry services may lead to increased business for Intel and strategic advantages for Nvidia.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50