🚀 ProPicks AI Hits +34.9% Return!Read Now

Oracle leads race to $1 trillion valuation as AI stocks and cryptocurrencies soar

Published 16/10/2023, 12:11 pm
© Reuters.  Oracle leads race to $1 trillion valuation as AI stocks and cryptocurrencies soar
ORCL
-
GE
-
PLTR
-

Driven by an uptick in public interest, the Artificial Intelligence (AI) market is enjoying unprecedented growth with Oracle Corp (NYSE:ORCL) leading the pack in the race to a $1 trillion market capitalisation, according to a recent report by Forex Suggest.

Currently valued at US$310.6 billion and growing at an average rate of 17%, Oracle is projected to reach an estimated market cap of US$1.8 trillion by 2030.

Following closely are Palantir Technologies (NYSE:PLTR) Inc and General Electric (NYSE:GE) Co with estimated timeframes of 11 and 20 years to reach the trillion-dollar mark, respectively.

SingularityNET, with its native token AGIX, emerges as the most promising AI cryptocurrency, estimated to reach a trillion-dollar valuation in nine years.

Meanwhile, Liechtenstein emerges as the keenest investor in AI for 2023, with 584.8 searches per 100,000 people.

The Netherlands sees the fastest-growing interest in AI investments with a staggering 723% increase in searches year-on-year.

AI companies with outstanding growth

Upstart (NASDAQ:UPST), with a stunning 100% increase in market cap from 2022 to 2023, leads the way among AI companies with the most substantial market cap gains.

The firm collaborates with banks to offer credit services using machine learning and AI for borrower assessments.

C3 AI follows, with a 93% rise in market cap over the same period.

Initially established to help businesses lower their carbon footprints, C3 AI now offers a diverse suite of enterprise applications.

In the crypto space, Matrix AI Network and dKargo are also strong contenders for SingularityNET

Both projects utilise blockchain technology in tandem with AI to solve various problems, ranging from smart contract execution to logistics optimisation.

Read more on Proactive Investors AU

Disclaimer

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.