Artificial intelligence (AI) has been garnering plenty of headlines over the past 18 months. Though the technology has been around for a while, recent breakthroughs could lead to massive innovations. The companies that lead the pack in this space will be rewarded.
There are plenty of businesses investors could consider if they want to profit from the AI boom. Let's examine one of them: (NASDAQ: MSFT). The tech giant could be a winner in AI over the long run and deliver market-beating returns along the way.
AI's recent momentum arguably began with the November 2022 launch of ChatGPT, a generative AI platform created by the privately held, Microsoft-backed company OpenAI. ChatGPT quickly became one of the fastest-growing apps ever, gaining more than a staggering 100 million users in just five days. OpenAI's success was clear proof that Microsoft was right to invest in the company. That's why the tech giant decided to double down. In January 2023, Microsoft announced a new multiyear, multimillion-dollar deal with OpenAI.
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1 Magnificent Artificial Intelligence (AI) Stock to Buy and Hold Forever - sharewise
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