A Huge Week For AI...What Part Makes Me Bullish
Happy Friday! This was a monumental week for AI. Open AI raised $10 billion through equity and debt, and Facebook hit an all-time high with a market cap of $1.5 trillion. Jensen Huang, the founder of Nvidia, is now worth more ($104 billion) than Intel as a whole ($96 billion)!
I’ll be honest… I still do not use Chat GPT personally. However, my chief of staff, Ethan, uses Chat GPT all day and finds it so beneficial that he even pays for it. So, indirectly, I do benefit from Ethan using it. I see Chat GPT similar to Excel - I come across Excel spreadsheets daily but rarely use it myself. Instead, I rely on Google’s AI suite called Gemini, which I find highly useful as I am deeply integrated with Gmail and Chrome.
The Bears and Haters
While I understand the skepticism from the bears and haters, I choose not to stand in the way of the money and PR freight train. One prominent voice among the detractors is Ed Zitron, who is vocal in his criticism of Open AI and Sam Altman. However, I believe that two things can be true - AI can be a bubble (such as Chat GPT and its derivatives being overhyped) while also being an incredibly useful tool for most people.
As the CEO of Stocktwits, I am particularly excited about AI at this moment. Over the past 17 years, we have built a community of millions of people discussing stocks constantly. With AI, this vast amount of content now becomes a valuable resource. Michael Keaton, in the timeless movie 'Night Shift', gave an ahead-of-its-time explanation of AI - 'Feed Mayo To The Tuna'. The machines must be fed, and those with the mayo have a new role to play.
Today, Reddit hit an all-time high with a valuation of $11 billion, showcasing their own significant impact in the AI space.
AI at Stocktwits
At Stocktwits, we are deploying AI in various ways over the next few quarters, particularly on the product side. Our ticker pages will soon undergo a full redesign to allow users to view the stream of messages and ideas in real time, alongside a 'rewind' feature for a summary of the stream. With AI in the background, we will organize bull and bear cases, key issues driving the markets, offer news with sentiment analysis (Stocktwits newswire), and conduct live polls.
Messages containing cashtags or ETFs will be enriched with contextual data as they are shared and streamed. The use of AI will enable us to provide users with a summary and sentiment on any ticker or topic by different timeframes - minute, hour, day, week, or year. Our users will have 'Stocktwits idea agents' delivering ideas based on risk profile, followers, timeframes, and screens, all without unnecessary complexity.
Prior to AI, utilizing and consuming Stocktwits was limited to one way, with the significant expense of data scientists and machine learning engineers posing a barrier. With the integration of AI, Stocktwits can now be accessible to everyone at a fraction of the previous cost.
Have a great evening!
