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These are the 10 best performing AI stocks so far this year

Artificial Intelligence 3D concept
BlackJack3D/Getty Images
  • The rise of ChatGPT has sparked a frenzy for artificial intelligence stocks in 2023.

  • A "jaw-dropping" earnings report from Nvidia was the latest catalyst to send AI stocks soaring.

  • These are the 10 top-performing artificial intelligence stocks so far in 2023.


The promise of generative artificial intelligence through the use of chatbots like OpenAI's ChatGPT and Alphabet's Bard has fully caught the attention of Wall Street in 2023.

A recent earnings report from Nvidia, which included "jaw-dropping" revenue guidance thanks to its exposure to chips that enable AI, sparked a rush for AI stocks and helped add nearly $200 billion to Nvidia's market value in a single day. The stock has gone on too rally to a $1 trillion market valuation for the first time ever.

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It's not just Nvidia that is soaring on the growing investor frenzy surrounding artificial intelligence. Companies across the semiconductor space like TSMC and Broadcomm have surged, as have software companies that help enable the design of semiconductors, like Cadence Design Systems and Synopsys.

These are the 10 best-performing artificial intelligence-related stocks so far this year, as of Tuesday afternoon.

10. Taiwan Semiconductor

TSMC exhibition area at the World Semiconductor Congress 2022 in China.
TSMC exhibition area at the World Semiconductor Congress 2022 in China.

TSMC exhibition area at the World Semiconductor Congress 2022 in China.CFOTO/Future Publishing via Getty Images

Ticker: TSM
Market Value: $456.8 billion
Year-to-date gain: 37.8%

9. Microsoft

Satya Nadella, CEO of Microsoft.
Satya Nadella, CEO of Microsoft.

Satya Nadella, CEO of Microsoft.Sean Gallup/Getty Images

Ticker: MSFT
Market Value: $2.42 trillion
Year-to-date gain: 38.8%

8. Alphabet

Sundar Pichai on stage at Google IO 2023
Sundar Pichai on stage at Google IO 2023

Sundar Pichai on stage at Google IO 2023Google

Ticker: GOOGL
Market Value: $1.57 trillion
Year-to-date gain: 40.7%

7. Broadcom

Broadcom
Broadcom

Reuters

Ticker: AVGO
Market Value: $303.9 billion
Year-to-date gain: 44.1%

6. Synopsys

synopsys
synopsys

Smith Collection/Gado/Getty Images

Ticker: SNPS
Market Value: $66.1 billion
Year-to-date gain: 45.7%

5. Cadence Design Systems

Cadence Design Systems
Cadence Design Systems

Glassdoor

Ticker: CDNS
Market Value: $61.2 billion
Year-to-date gain: 45.8%

4. Marvell Technology

Headquarters of Marvell Technologies in Santa Clara, California
Headquarters of Marvell Technologies in Santa Clara, California

Headquarters of Marvell TechnologiesSmith Collection/Gado/Getty Images

Ticker: MRVL
Market Value: $42.5 billion
Year-to-date gain: 69.6%

3. AMD

AMD CEO Lisa Su
AMD CEO Lisa Su

AMD CEO Lisa SuSteve Marcus/Reuters

Ticker: AMD
Market Value: $193.8 billion
Year-to-date gain: 94.9%

2. Nvidia

jensen huang nvidia ceo ces talk
jensen huang nvidia ceo ces talk

Jensen Huang, CEO of Nvidia, reacts to a video at his keynote address at CES in Las VegasRick Wilking/Reuters

Ticker: NVDA
Market Value: $992.9 billion
Year-to-date gain: 94.9%

1. C3.ai

c3.ai logo phone
c3.ai logo phone

SOPA Images / Getty Images

Ticker: AI
Market Value: $3.2 billion
Year-to-date gain: 260.8%

Read the original article on Business Insider