In May 2023, artificial intelligence (AI) stocks rebounded after a decline in April, with Nvidia approaching its all-time highs and Palantir achieving a new all-time high. Despite concerns about a potential recession and trade wars, investors are increasingly focusing on the ongoing AI boom, with significant investments from major tech companies in new data centers for AI programs.
Amplitude (NASDAQ: AMPL) is launching AI agents on June 10, 2023, aiming to enhance its product analytics platform and provide valuable insights to customers. Despite a market cap of $1.6 billion and being down 85% from its peak, there are expectations for significant market share gains. Upstart (NASDAQ: UPST), recovering from a post-pandemic slump, reported a 67% revenue increase to $213 million in Q1 and plans to expand into auto and home loans, although it is still 87% below its all-time high.
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