{"id":35953,"date":"2023-07-15T04:01:07","date_gmt":"2023-07-15T08:01:07","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/some-lesser-known-ai-plays-are-gaining-steam-with-investors\/"},"modified":"2023-07-15T04:01:08","modified_gmt":"2023-07-15T08:01:08","slug":"some-lesser-known-ai-plays-are-gaining-steam-with-investors","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=35953","title":{"rendered":"Some lesser-known AI plays are gaining steam with investors"},"content":{"rendered":"
\n

Investors wanting to play the hot trend of artificial intelligence are looking beyond the most obvious names, according to data from Stocktwits, a social platform for investors and traders. <\/p>\n

While companies like Nvidia Corp.
\n NVDA,
\n -1.10%<\/bg-quote>,<\/span>
\n Palantir Technologies Inc.
\n PLTR,
\n -2.03%<\/bg-quote>
\n and Microsoft Corp.
\n MSFT,
\n +0.75%<\/bg-quote>
\n have cemented themselves as AI players in the eyes of Wall Street, investors also are also eyeing AI-related microcaps. <\/p>\n

\n

Stocktwits examined the top 250 symbols on its platform based on total message volume in June. \u201cWhen investors [and] traders conduct research for AI stocks, the first thing they usually do is type \u2018AI\u2019 in the search bar,\u201d Tom Bruni, lead writer of Stocktwits\u2019 Daily Rip & Markets newsletter, told MarketWatch. \u201cAs a result, businesses with AI in their symbol and name [are] easier to find, thus becoming more popular.\u201d <\/p>\n

This trend has helped thrust C3.ai Inc.
\n AI,
\n -6.10%<\/bg-quote>
\n into the spotlight in recent months, although Bruni also highlights investor interest in companies whose core businesses are closely linked to AI. \u201cThe second takeaway from the data is that businesses that deal directly with AI as a core facet of their bottom line are receiving more attention than those who only view AI as a supplement,\u201d he said. <\/p>\n

Opinion:<\/strong>\u00a0Nvidia created an AI bubble, and software stocks are already paying the price <\/p>\n

Microcap CXApp Inc.
\n CXAI,
\n -15.22%<\/bg-quote>
\n is a beneficiary of this trend, according to Stocktwits\u2019 data, along with Nvidia and Palantir, which have all seen message-volume growth in 2023, peaking in the summer. <\/p>\n

Fellow microcaps Artificial Intelligence Technology Solutions Inc.
\n AITX,
\n -1.71%<\/bg-quote>
\n and Guardforce AI Co.
\n GFAI,
\n +1.56%<\/bg-quote>
\n also feature on Stocktwits\u2019 top-250 list. Shares of workplace-technology company CXApp have fallen 40.1% in the last three months, while Artificial Intelligence Technology Solutions is down 1.7% and Guardforce AI is down 80.4%.<\/p>\n

The Invesco QQQ Trust Series I exchange-traded fund
\n QQQ,
\n -0.02%<\/bg-quote>
\n ranked No. 5 in terms of message volume, ahead of Nvidia, which is in sixth place, Palantir in 11th, C3.ai Inc. in 14th and Advanced Micro Devices Inc.
\n AMD,
\n +0.02%<\/bg-quote>
\n in 18th. Message volume on Stocktwits\u2019 stream for C3.ai has consistently grown by 100% month over month since the beginning of this year and is still trending higher, according to Bruni. <\/p>\n

ETFs are also grabbing attention. For June, the ProShares UltraPro Short QQQ ETF
\n SQQQ,
\n +0.06%<\/bg-quote>
\n was at No. 64, while the Direxion Daily Semiconductor Bear 3X Shares ETF
\n SOXS,
\n +3.61%<\/bg-quote>
\n came in at No. 135. The ProShares UltraPro QQQ
\n TQQQ,
\n -0.09%<\/bg-quote>,<\/span>
\n the Direxion Daily Semiconductor Bull 3X Shares
\n SOXL,
\n -3.85%<\/bg-quote>
\n and the ARK Innovation ETF
\n ARKK,
\n -2.14%<\/bg-quote>
\n were also among the top 250. It\u2019s not clear whether some of these ETFs are grabbing attention as potential bearish bets against the AI rally.<\/p>\n

Related<\/strong>: The \u2018explosive\u2019 AI trend is here to stay. These stocks are poised to benefit.<\/p>\n

\u201cThere\u2019s a significant appetite across market-cap segments, ranging from megacap tech to microcaps, and at the ETF level, both passive and actively managed ones,\u201d Bruni told MarketWatch. \u201cThis makes sense because investors have different timeframes, objectives, risk tolerances, etc., so the way they\u2019re playing the AI theme will all be different. But what\u2019s clear is that they are playing it.\u201d<\/p>\n

Stocktwits also looked at the top 250 symbols on its platform based on the net number of people who added them to their watchlists in June. Nvidia ranked at No. 2, while AMD was in seventh place and C3.ai was in ninth. The Invesco QQQ Trust Series I was ranked at No. 29. <\/p>\n

Bruni told MarketWatch that while investors are pouring money into the AI theme, they\u2019re also trying to get their heads around the potential of the technology. <\/p>\n

\u201cWe\u2019re still at the early stages of understanding what generative AI is,\u201d he said. \u201cIt\u2019s a new realm. \u2026 People are still unsure what the capability of these tools are.\u201d<\/p>\n

Related<\/strong>: These are the best-performing stocks in the 2023 bull market \u2014 and the worst <\/p>\n

While ChatGPT helped bring AI into the public consciousness late in 2022, investors may be looking for the next Nvidia, which Bruni said was \u201cthe first company to come out and say, \u2018This is going to have a material impact on our earnings.\u2019\u201d Nvidia\u2019s stock is up 69.9% in the last three months.<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Investors wanting to play the hot trend of artificial intelligence are looking beyond the most obvious names, according to data from Stocktwits, a social platform for investors and traders. While companies like Nvidia Corp. NVDA, -1.10%, Palantir Technologies Inc. PLTR, -2.03% and Microsoft Corp. MSFT, +0.75% have cemented themselves as AI players in the eyes […]<\/p>\n","protected":false},"author":1,"featured_media":31604,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-35953","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nSome lesser-known AI plays are gaining steam with investors | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Investors wanting to play the hot trend of artificial intelligence are looking beyond the most obvious names, according to data from Stocktwits, a social\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=35953\" \/>\n<meta property=\"og:locale\" content=\"en_US\" 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