Breakthroughs in artificial intelligence are making investors see many tech companies in a new light, but the advancements could soon spread, boosting sectors and ETFs without direct ties to AI. The recent boom in AI has driven up some of the biggest tech stocks on the market, including Microsoft , Alphabet and chip maker Nvidia . The boost to those companies has helped the broader market hold up well so far in 2023 despite growing concerns about the economic outlook and the banking system.
mountain Genomics ETFs like ARKG are down this year. Both funds are down so far this year. Cybersecurity Another growth area where the ability to analyze data quickly is a key part of the business is cybersecurity, and breakthroughs at AI might be coming at just the right time, Jacobs said. "We've seen a lot of M & A in the cybersecurity space, and I think that's positive because it means there's more data in place under one roof," he said.