Companies tied to artificial intelligence services recorded some of the highest transaction volumes on record this month, amid growing user interest in ChatGPT, the tool that generates transactions. conversational interaction.
Companies tied to artificial intelligence services recorded some of the highest transaction volumes on record this month, amid growing user interest in ChatGPT, the tool that generates transactions. conversational interaction.
Last week, Microsoft Corp. said it is investing $10 billion in OpenAI, maker of ChatGPT and BuzzFeed Inc. announced plans to use OpenAI to help create content. Last weekend, Bloomberg News reported that search company Baidu Inc. based in China is planning to launch an artificial intelligence chatbot service similar to ChatGPT.
The development has made AI-related stocks extremely popular with investors. Shares of BuzzFeed jumped more than 300% last week and trading volume hit 438 million shares. Volume for the month was above 470 million, compared to a monthly average of just under 25 million shares.
Among other stocks, C3.ai Inc. saw nearly 67 million shares change hands this month, the most since June, while voice AI software company SoundHound AI Inc. saw 60 million shares change hands, nearly three times the monthly average.
On Monday, BuzzFeed was down 13%, while SoundHound was down 0.6% and C3.ai was down 2.6%.
