The remarkable success of ChatGPT has sparked a fresh wave of enthusiasm in the artificial intelligence (AI) domain, setting off a lively competition among prominent tech giants to introduce their own large language model (LLM) solutions.
In this competitive environment, Google Bard LLM, developed by Alphabet (GOOGLE), has emerged as a significant player in the field of generative AI. With a wide and impressive array of capabilities, Google Bard has showcased its aptitude for expanding its influence into the domain of predicting future trends.
As generative AI continues to advance, individuals are increasingly turning to these AI models to predict future trends. The team at Finbold sought to tap into the insights of Google Bard, aiming to identify its top 5 stock picks that are likely to be performing well in 2024.
The top five Google Bard’s AI picks are Nvidia (NVDA), Adobe (ADBE), Datagod (DDOG), Sociedad Quimica y Minera de Chile (SQM) and Fiverr International (FVRR).
Nvidia (NVDA)
Nvidia is a semiconductor company that is known for its graphics processing units (GPUs), which are used in gaming, artificial intelligence, and other applications.
Gaming is a multi-billion dollar industry, and Nvidia is the leading provider of GPUs for gaming PCs and consoles. The company is also well-positioned to benefit from the growth of cloud gaming, which is becoming increasingly popular as people look for ways to play their favorite games without having to buy expensive hardware.
The stock has experienced a 7.27% decline in the last 7 days, and it’s trading at $415 as of today, but the underlying fundamentals of the company remain strong.
(NVDA stock last 7 days performance. Source: Finbold.com)
Artificial intelligence (AI) is another rapidly growing market, and Nvidia’s GPUs are also used in AI applications such as machine learning and deep learning. These technologies are being used by businesses and governments around the world to solve complex problems and develop new products and services.
Nvidia is also expanding into new markets, such as data center computing and self-driving cars. The company’s GPUs are used in data centers to accelerate machine learning workloads and to power AI-powered applications such as natural language processing and image recognition.
Nvidia is also working with automakers to develop self-driving cars, and its GPUs are used in self-driving cars to power the AI systems that control the vehicle.
Adobe (ADBE)
Adobe is a software company that offers a wide range of creative products, such as Photoshop, Illustrator, and Acrobat. The entity is expected to benefit from the continued shift to digital content creation and the growing popularity of its subscription-based software business model.
The shift to digital content creation is being driven by the rise of social media, e-commerce, and streaming video. Businesses and individuals are increasingly creating digital content to market their products and services, to entertain their audiences, and to share their stories. Adobe’s creative products are essential tools for digital content creators, and the company is well-positioned to benefit from the continued growth of this market.
The stock has experienced a 2.66% decline over the past 7 days, but it has shown a noteworthy increase of 11.1% over the course of the last 30 days.
(ADBE stock last 7 days performance. Source: Finbold.com)
Adobe’s subscription-based software business model is also a key growth driver. The company offers a variety of subscription plans for its products, which gives customers the flexibility to choose the plan that best meets their needs. Adobe’s subscription business model provides the company with recurring revenue and helps to reduce customer churn.
Datadog (DDOG)
Datadog is a cloud-based monitoring and analytics platform that helps businesses track and troubleshoot their IT infrastructure. Datadog is expected to benefit from the continued growth of cloud computing and the increasing demand for monitoring and analytics solutions.
Cloud computing is the fastest-growing segment of the IT industry, and businesses of all sizes are moving their workloads to the cloud. Datadog’s monitoring and analytics platform helps businesses to manage their cloud infrastructure more effectively. The company also offers a variety of tools for monitoring and analyzing applications and services that are running on-premises.
Although the price has seen a 2.4% decrease in the last 5 days, the demand for monitoring and analytics solutions is increasing as businesses become more reliant on their IT infrastructure. Datadog’s platform provides businesses with a comprehensive view of their IT infrastructure, which helps them to identify and resolve problems quickly. The company’s platform also helps businesses to improve the performance and reliability of their IT infrastructure.
(Datadog stock last 5 days performance. Source: Trading.com)
Sociedad Quimica y Minera de Chile (SQM)
SQM is a Chilean mining company that is one of the world’s largest producers of lithium, a key ingredient in batteries for electric vehicles and other electronic devices. SQM is expected to benefit from the increasing demand for lithium as the world transitions to clean energy.
The 9.3% drop in price in the last 5 days presents a great opportunity to capitalise on the opportunity and invest in the stock for the long run.
The demand for lithium is expected to grow rapidly in the coming years as the world transitions to clean energy. Electric vehicles are becoming increasingly popular, and lithium is a key ingredient in the batteries that power these vehicles. Lithium is also used in other electronic devices, such as smartphones and laptops.
SQM is well-positioned to benefit from the increasing demand for lithium. The company has a large lithium reserve base and produces lithium at a low cost. SQM is also expanding its lithium production capacity to meet growing demand.
Fiverr International (FVRR)
Fiverr International is a freelance marketplace that connects businesses with freelancers from around the world. Fiverr is expected to benefit from the continued growth of the gig economy and the increasing demand for remote work.
The gig economy is growing rapidly, and Fiverr is one of the leading freelance marketplaces. The company offers a wide range of services, including web design, graphic design, writing, and video editing. Fiverr is also a popular platform for businesses to hire freelancers for remote work.
If you have faith in the geek economy, the recent 6.66% price drop over the last 5 days could be seen as a promising opportunity to seize and invest in the stock.
The demand for remote work is also increasing, and Fiverr is well-positioned to benefit from this trend. The company’s platform allows businesses to hire freelancers from anywhere in the world. Fiverr also offers a variety of tools to help businesses manage their remote workforce.
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Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
