Tech Stocks Continue to Soar as AI Market is Projected to Surpass $1 Trillion

Alphabet and Microsoft Outperform Competitors, Intel Diversifies into GPU Market

Tech stocks soared last year with the Nasdaq-100 Technology Sector index rising 67% throughout 2023, significantly improving from the year before when it plunged 40%.
Alphabet's annual revenue has risen 75% since 2019, with operating income up 108%, outperforming competitors Microsoft and Apple in both metrics.
Intel ventured into the desktop graphics processing unit (GPU) market for the first time last year, diversifying its business with a larger role in PC gaming.
The AI market is projected to expand at a compound annual growth rate of 37% through 2030 and surpass a value of $1 trillion before the decade's end.
Microsoft partnered with OpenAI in 2019, initially putting $1 billion into the start-up, and has since achieved a 49% stake in OpenAI, granting it exclusive access to some of the industry's most advanced AI models.