Rising Generative AI Stocks to Consider as ChatGPT Skyrockets

The launch of OpenAI’s ChatGPT has stirred interest in AI stocks, particularly in generative AI technology. ChatGPT, a chatbot application, utilizes machine learning to mimic human conversations, offering potential across sectors like marketing, security, and healthcare. Reid Menge of BlackRock Technology Opportunities Fund sees immense potential, comparing ChatGPT’s capabilities to the human brain.

Grand View Research forecasts strong growth for the generative AI market, reaching $109.37 billion by 2030. While direct investment in OpenAI is unavailable, several tech stocks provide exposure to the expanding generative AI sector. The Investing News Network lists some of the rising generative AI stocks one can invest in today:


Adobe, with a market capitalization of US$242.25 billion and a share price of US$532.06, has led in merging AI with its Creative Cloud software since 2022.

In March 2023, Adobe launched Adobe Sensei GenAI, a platform enhancing marketing and content creation through generative AI. Its flagship products, including Photoshop and Illustrator, have been augmented with Adobe Firefly, introduced alongside Sensei GenAI.

Firefly enables users to create and modify images and designs using text prompts, significantly transforming the creative landscape and streamlining workflows.


Alphabet, with a market capitalization of US$1.56 trillion and a share price of US$125.30, introduced its AI chatbot, Bard, on March 21. Developed by Alphabet’s subsidiary Google, Bard employs the Language Model for Dialogue Applications. Like Bing, Bard seamlessly integrates into Google Search.

Despite initial setbacks, such as a mishap regarding the James Webb Space Telescope, causing a temporary US$100 billion dip in market cap, Alphabet swiftly recovered. Google plans to integrate Bard with Google Assistant, aiming for testing with select consumers by early 2024, as part of efforts to further enhance its AI offerings.


Amazon Web Services (AWS), a key subsidiary of Amazon with a market capitalization of US$1.37 trillion and a share price of US$133.09, stands as a leading cloud-computing entity offering extensive services across computing, storage, and AI. AWS caters to businesses through four main AI-oriented areas: services, platforms, frameworks, and infrastructure, with generative AI playing a pivotal role, notably in powering Alexa’s conversational capabilities.

In April, AWS introduced Bedrock, a new service designed to embed generative AI features into software, allowing for innovative applications like converting text to images or generating content for various communications. After a five-month trial, Bedrock was made widely available on September 28, marking Amazon’s continued expansion in AI technology solutions.


IBM, with a market capitalization of US$131.77 billion and a current share price of US$144.64, is a leader in global AI research, offering a wide range of AI solutions in areas like healthcare, cloud computing, IT operations, and more.

The company is actively addressing the issues of inaccuracies and biases in generative AI models through IBM Research’s AI team, which aims to create new, trustworthy generative AI systems. Under Dr. Payel Das’s guidance, IBM has also used generative AI to develop innovative drugs against antibiotic-resistant bacteria.

In August, IBM highlighted its commitment to innovation by launching a marketing campaign for WatsonX, its AI and data platform designed for enterprises, showcasing its dedication to advancing technology across various industries.


Intel, with a market capitalization of US$153.89 billion and a current share price of US$36.50, is a leading force in the production of microprocessors for PCs and mobile devices globally. It is recognized for its pioneering achievements in semiconductor technology and stands as a top chip manufacturer by revenue. A notable innovation is Meteor Lake, Intel’s first consumer chip equipped with a neural processor designed for machine learning applications.

Intel is dedicated to utilizing AI to improve society, with its Trusted Media team working on projects to enhance the quality of life and ensure technology fosters natural human interactions. On October 19, Intel launched its AI PC Acceleration Program, aimed at making AI technology accessible on all PCs by offering hardware and software vendors access to Intel’s extensive AI tools, with the goal of embedding advanced AI capabilities into every PC.


With a market capitalization of US$2.51 trillion and a share price of US$338.11, Microsoft, a major investor in OpenAI, plans to inject an additional US$10 billion into the chatbot creator. Leveraging OpenAI’s technology, Microsoft introduced Bing AI, seamlessly integrated into Windows 11’s search bar, compatible with Edge, Chrome, and Safari.

Microsoft 365 Copilot, an AI-enhanced version of Office 365, underwent testing with select enterprise clients and is now available from November 1 for US$30 per user, with a minimum of 300 users.


NVIDIA, with a market capitalization of US$1.01 trillion and a share price of US$407.80, is a global leader in graphics processing unit (GPU) technology, pivotal for AI and machine learning across various devices. Its GPUs support a range of sectors from gaming to scientific research, with an increasing demand for its chips due to the rise of generative AI technologies.

Partnerships with companies like Meta Platforms have led to the creation of the Research SuperCluster AI supercomputer, featuring 16,000 NVIDIA GPUs.

Additionally, NVIDIA collaborates with Dell Technologies on AI enterprise applications. In a notable advancement, NVIDIA introduced the DGX GH200 AI supercomputer and NVIDIA ACE, an AI platform aimed at revolutionizing video game development, showcasing its commitment to pushing the boundaries of AI technology.


With a market capitalization of US$638.46 billion and a current share price of US$200.84, Tesla is pioneering in the automotive industry with its innovative self-driving technology and is now venturing into the realm of advanced generative autonomous vehicles.

The company’s investment in Dojo, a cutting-edge supercomputer, aims to utilize vast data from its vehicles for training generative AI models, highlighting its dedication to innovation.

Additionally, Tesla has introduced xAI, a new venture under Elon Musk’s leadership, focused on exploring generative AI to unravel the universe’s mysteries. This expansion reflects Tesla’s continuous commitment to leading in technological advancements and artificial intelligence exploration.

Frequently Asked Questions About Generative AI

What are some examples of generative AI?

Generative AI technologies such as ChatGPT, Bard, Midjourney, Stable Diffusion, DALL-E 2, and Bing AI are transforming the way we interact with artificial intelligence. DALL-E 2, an innovation by OpenAI, produces vivid images and art from verbal descriptions. Midjourney operates on a similar principle, crafting visuals from text prompts. Stable Diffusion is another model capable of creating realistic images based on textual descriptions. Bing AI, integrated into Microsoft’s Bing search engine, utilizes technology akin to ChatGPT to generate conversational responses.

What does generative AI entail?

Generative AI represents a burgeoning field within artificial intelligence, leveraging advanced deep learning models and algorithms. This technology possesses the capability to produce text, images, or even sounds when prompted by user input.

Which generative AI startups are gaining traction?

Apart from OpenAI, renowned for creating ChatGPT, other notable generative AI startups highlighted by e-Week include Cohere, Jasper, Hugging Face, and Synthesis AI.

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