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An exhaustive search of the internet has identified 120 companies who mention in their profiles that they are artificial intelligence or AI-related manufacturers or users of such products. Of those 120 eleven (11) are now in a bubble with the recent addition of Adobe (ADBE) - read Bubble In These 10 AI Stocks Accelerated Last Week - having jumped by 50% or more since the bubble began to inflate during the last week of April. Interestingly, however, 17 of the largest and best-known tech companies are not included in that list.

This article:

• identifies 8 of the remaining 17 companies that have advanced more than the overall sector since the bubble began to inflate in late April/early May as measured by the return of the AIQ ETF which consists of 92 AI or AI-related constituents and is UP 26.5% since then, and
• provides a profile of each, their current market capitalizations and their stock performances, in descending order, from their lows in late April/early May until last Friday, July 14th..

In addition - and for the record - this article also highlights the other 9 major tech companies whose stocks have underperformed that of the AIQ since late April/early May.

The 8 Tech Companies Outperforming the AIQ ETF (i.e. +26.5%) But Not In Bubble Territory (i.e. +50%) 

1. Meta Platforms (META): +49%
   • Sector: Communication Services
   • AI Information: is engaged in a massive project to whip its AI infrastructure into shape expressing confidence in their ability to continue expanding their infrastructure's capabilities to provide new AI-powered experiences to their family of apps and consumer products.
   • Current Market Capitalization: $792B
2. Broadcom (AVGO): +45%
   • Sector: Information Technology
   • AI Information: recently introduced Jericho3-AI, a fabric that enhances the performance of AI networks and is expecting its AI-related, high-speed cloud switch sales to increase by 300%.
   • Current Market Capitalization: $367B
3. Advanced Micro Devices (AMD): +42% from its low in late April/early May
   • Sector: Information Technology
   • AI Information: is poised to challenge Nvidia's market leadership with its upcoming AI chip and comprehensive AI Platform strategy.
   • Current Market Capitalization: $187B
4. Netflix (NFLX): +39%
   • Sector: Communication Services
   • AI Information: uses artificial intelligence and machine learning to provide consumers with more appropriate and intuitive suggestions.
   • Current Market Capitalization: $196B
5. Amazon (AMZN): +32%
   • Sector: Consumer Discretionary
   • AI Information: is applying continuous AI to understand the context and intent behind customer search queries, runs a smart speaker product (Alexa) on a conversational AI platform and is automating its warehouses with smart robots.
   • Current Market Capitalization: $1,380B
6. Applied Materials (AMAT): +29%
   • Sector: Information Technology
   • AI Information: is a semiconductor capital equipment makers developing the most complex AI-related chips
   • Current Market Capitalization: $120B
7. Taiwan Semiconductor (TSM): +28%
   • Sector: Information Technology
   • AI Information: manufactures advanced AI semiconductors for Nvidia and other AI chipmakers
   • Current Market Capitalization: $494B
8. Oracle (ORCL): +27%
   • Sector: Information Technology
   • AI Information: plans to  offer generative AI services to enterprise customers around the world built on Oracle’s cloud computing infrastructure through a partnership with Cohere, an AI startup that helps companies build AI tools with its large language models.
   • Current Market Capitalization: $324B

Performance Of the 9 Other Major Tech Companies Since the End Of April

1. Microsoft (MSFT): +25.4%
   • Sector: Information Technology
   • AI Information: has established itself as a leader in the field becoming a major early investor in OpenAI and has integrated ChatGPT with its Bing search engine in an attempt to snatch market share from Alphabet's Google.
   • Current Market Capitalization: $2,570B
2. ASML Holding (ASML): +23.8%
   • Sector: Information Technology
   • AI Information: is a global leader in the manufacturing of lithography machines used in the production of high-performance chips, which in turn are used in AI applications.
   • Current Market Capitalization: $295B
3. Alphabet (GOOGL): +19.8%
   • Sector: Communication Services
   • AI Information: is leveraging AI technologies to improve its core offerings, such as search and cloud computing and to open new income streams for the company.
   • Current Market Capitalization: $1,590B
4. Accenture (ACN): +19.8%
   • Sector: Information Technology
   • AI Information:  is investing $3 billion over three years in its Data & AI practice to help clients across all industries rapidly and responsibly advance and use AI to achieve greater growth, efficiency and resilience.
   • Current Market Capitalization: $199B
5. Qualcomm (QCOM): +19.0%
   • Sector: Information Technology
   • AI Information: is enabling cloud-edge convergence which will drive innovations at the edge powering new consumer experiences, enabling the transformation of industries, and fueling the growth of the digital economy.
   • Current Market Capitalization: $137B
6. Apple (AAPL): +15.1%
   • Sector: Information Technology
   • AI Information: is approaching AI cautiously, with a product-oriented focus of making using your computer and phone enjoyable.
   • Current Market Capitalization: $3,000B
7. Intel (INTC): +14.1%
   • Sector: Information Technology
   • AI Information: is shifting its strategy to compete against Nvidia Corp. and Advanced Micro Devices Inc. with the introduction of a chip for AI computing in 2025.
   • Current Market Capitalization: $138B
8. Texas Instruments (TXN): +12.2%
   • Sector: Information Technology
   • AI Information: is America’s largest producer of analog semiconductor chips which are used in remote monitoring, self-driving vehicles, automated manufacturing and many other such applications.
   • Current Market Capitalization: $164B
9. IBM (IBM): +10.3%
   • Sector: Information Technology
   • AI Information: is focused on helping its large base of enterprise customers use AI to improve productivity, boost efficiency, and lower costs
   • Current Market Capitalization: $121B

Given the fact that:

• International Data Corporation predicts that 64% of all data will depend on digital technologies by 2025 with global spending on AI increasing by 27% to $154 billion in 2023 over 2022 and to $300 billion or more by 2026.
• Ark Investment Management forecasts that AI companies could be sharing a revenue pool worth $14 trillion by 2030, creating $90 trillion in enterprise value and
• Goldman Sachs predicts that generative AI could raise global GDP by almost $7 trillion over the next 10 years,

the above 17 underperforming AI or AI-related companies could well have major upside potential making one, or more, of them ideal investment opportunities. None of these stocks, however, are being recommended, per se but, rather, are highlighted as a heads-up regarding the current situation and what the future might hold. Access the stock symbols provided to do your own research.

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