Published on 30 Mar 2024 on Insider Monkey via Yahoo Finance

12 Hot Tech Stocks to Invest in Now

In this article, we will take a look at the 12 hot tech stocks to invest in now. To skip our analysis of the recent technology trends, and market activity, you can go directly to see the 5 Hot Tech Stocks to Invest in Now.

The technology sector is going through a major transition with the advent of generative artificial intelligence. There have been rapid developments in the sector since the launch of OpenAI’s ChatGPT, a large language model (LLM), launched in November 2022. The platform received widespread acceptance with tens of millions of users flocking to the model. Alphabet Inc.’s (NASDAQ:GOOG) followed up with Google Bard which is giving strong competition to other LLMs.

With significant investment from Microsoft Corporation (NASDAQ:MSFT) in OpenAI, reportedly to the tune of billions of dollars, OpenAI has made significant improvements to its model. In addition, Microsoft has integrated some of the features of the LLM into its suit of products. Artificial intelligence is seen to be the main factor in the recent performance of Microsoft Corporation’s (NASDAQ:MSFT) share price as well as quarterly results. Several other companies are working on their own LLMs or have already launched their own models for different purposes. In addition, companies are focusing on utilizing the power of generative AI to improve processes, products and services, and experiences, in any shape and form. This has suddenly raised the demand for higher computational power and the hardware required to run it.