AI has been quite the buzz on Wall Street recently as top tech companies with heavy investments in AI have led the recent rally seen in the market. With more and more companies getting involved in AI, it can be hard for any investor to wade through the names and find a great entry point for their portfolio.
Morgan Stanley Equity Analyst Stephen Byrd joins Yahoo Finance to break down some of the best AI picks that have gone under the radar for many on Wall Street and what investors need to keep in mind with the AI sector.
Byrd points out one of the biggest drives behind his picks and why they have much room to grow: "We see about a 50% drop in... essentially the cost of compute, cost of computation, in these data centers. That's really all Nvidia (NVDA). It's these new chips that are just much more efficient. And that's flowing through the entire ecosystem. As those costs drop, we think demand for a variety of gen. AI applications will rise, and that's essentially the thesis of our view of gen. AI adoption across many industries."
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