Artificial intelligence once again became the center of attention this week as big player Nvidia issued another bullish revenue forecast. For investors looking for other ways to play the theme, Trivariate Research found some high-quality names that could see a boost. The Wall Street firm processed over 180,000 earnings call transcripts and company presentations to identify the presence of Al keywords. It found that the quintile with the most AI keyword mentions has outperformed the bottom four quintiles since 2017. “The direction of the stock market hinges on their guidance,” strategists at Trivariate Research said in a note. “AI is likely to be one of, if not the biggest, driver of the market in the next few years, akin to the internet in 2000.” Trivariate Research identified a slew of high-quality companies that have high mentions of AI this year. The list included Big Tech names Microsoft, Alphabet and Meta . Meta shares have been on fire this year, more than doubling in that time. Recently, the company unveiled its own AI computer chips . Alphabet shares have also popped 45% in 2023. The tech giant is a new general-use large language model called PaLM 2. Meanwhile, Microsoft announced earlier this year a multiyear, multibillion-dollar investment in ChatGPT maker OpenAI. The stock is up 33% in 2023. Other software names on the list included UiPath , ServiceNow, Salesforce and Workday. — CNBC’s Michael Bloom contributed reporting.
