The craze surrounding OpenAI's ChatGPT has reached small-cap artificial intelligence stocks, as investors relay excitement over the potential future of the space.
Under-the-radar firms BigBear.ai and SoundHound AI have both seen bullish runs in recent months. In January alone, BigBear saw an increase of 356%, while SoundHound climbed 56%. BigBear.ai is rooted in artificial intelligence, and the firm's breadth of products offer applications to industries including healthcare, government and manufacturing. SoundHound, meanwhile, focuses on conversational intelligence, which integrates AI interactions with users that is voice activated.
Shares of BigBear.ai also got a big lift last month, when the company received a US Air Force contract that could potentially be worth as much as $900 million. The success and criticism over ChatGPT has pushed investors to closely eye the artificial intelligence sector in 2023, with the underlying technology showing signs of advances sooner than previously thought.has already sent several larger artificial intelligence stocks soaringAnd competitors are stepping up their presence into the AI space in response to the success of ChatGPT.
Source: News Formal (newsformal.com)
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