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OpenAI's ChatGPT has sparked a surge in investor interest in AI stocks, creating new wealth rapidly. Although OpenAI is privately held, Canadians can invest in publicly traded companies that support AI development. The generative AI market is projected to grow significantly, presenting lucrative opportunities for investors.
Investors can explore various strategies, including direct investments in AI hardware suppliers like Nvidia and Broadcom, or through Canadian Depository Receipts (CDRs) to mitigate currency risks. Additionally, Canadian ETFs like the CI Global Artificial Intelligence ETF offer diversified exposure to AI stocks. This evolving landscape emphasizes the importance of diversification and a long-term investment approach.
• Generative AI market expected to reach US$356 billion by 2030.
• Nvidia stock surged 650% in 18 months due to AI demand.
The rise of generative AI has led to increased investment opportunities in related stocks.
CDRs allow Canadian investors to access U.S. AI stocks while avoiding currency risk.
Canadian ETFs focused on AI provide investors with exposure to a range of AI companies.
OpenAI is the creator of ChatGPT, which has significantly influenced the AI investment landscape.
Nvidia's stock has seen substantial growth due to its pivotal role in AI development.
Isomorphic Labs, the AI drug discovery platform that was spun out of Google's DeepMind in 2021, has raised external capital for the first time. The $600
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Sam Altman today revealed that OpenAI will release an open weight artificial intelligence model in the coming months. "We are excited to release a powerful new open-weight language model with reasoning in the coming months," Altman wrote on X.
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