The number of AI mentions in earnings calls during the second quarter of this year has increased by 366% compared to the prior quarter. Companies like Adobe, Meta, and Nvidia saw significant increases in their stock prices after mentioning AI in their earnings calls. However, there are concerns that some of the hype around AI involves replacing humans with algorithms, with some publishers even using AI to produce some of their content.
Key takeaways:
- Companies that mentioned AI in their earnings calls saw an average increase in their stock price of 4.6 percent, compared to an average stock price rise of only 2.4 percent for companies that didn't mention AI, according to WallStreetZen.
- Among tech companies, 71 percent saw a rise in stock price with an average increase of 11.9 percent after mentioning AI.
- Adobe, Meta, and Nvidia are among the top companies whose stock prices increased the most after mentioning artificial intelligence.
- The number of AI mentions in earnings calls during the second quarter of this year has increased by 366 percent compared to the prior quarter.