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Despite what they might say, every investor dreams of getting in on the ground floor of the next disruptive technology and riding the wave to untold riches. There’s little question that the siren song of 2023 comes as the result of rapid advances in the field of generative artificial intelligence (AI). It began with the launch of ChatGPT late last year and the realization that AI is likely just getting started.
Helping fuel the mad dash to AI stocks in none other than Cathie Wood, CEO and co-founder of Ark Investment Management. The firm recently released its Big Ideas 2023 report, and the conclusions are truly mind-boggling: “AI should increase the productivity of knowledge workers more than 4-fold by 2030 … If vendors were to capture 10% of value created by their products, AI software could generate up to $14 trillion in revenue.”
For investors looking to stake their claim, there’s an argument to be made that no company is better positioned to profit from AI than Nvidia (NASDAQ: NVDA).