SUMMARY
- Despite having its roots in the mid-20th century, the field of artificial intelligence (AI) has seen significant breakthroughs in machine learning, deep learning, and natural language processing since the early 2010s.
- More recently, interest in AI has boomed, driven largely by the launch of ChatGPT in November last year. ChatGPT, a deep learning-based language model, generates human-like text based on input. Within 6 months, Google searches for the term ‘AI’ had reached peak interest. During Q1 2023 earnings calls, 110 S&P 500 companies mentioned the term ‘AI’—a 41% increase from the prior quarter.
- One S&P 500 company, in particular, has benefitted greatly from the recent AI boom. Nvidia, a technology company specializing in the design and manufacturing of graphics processing units, has seen its share price rise by more than 139% since the launch of ChatGPT. While not directly tied to ChatGPT, Nvidia’s processing units excel at accelerating AI and machine learning workloads. The industry’s excitement has generated considerable interest in Nvidia and other leading technology companies in recent months.
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