PSTG - 1 Stock That Could Be Ready to Soar in the Generative AI Era
2023-06-08 06:33:00 ET
Generative AI has taken the tech world by storm, led by the viral success of services like ChatGPT. Tech experts tout the technology as a game-changer, promising the ability to superpower the productivity of knowledge workers (think: white-collar jobs) around the globe. Semiconductor stocks in particular have been a top beneficiary, as these new AI systems need lots of expensive, cutting-edge chips to work.
Let's not leave Pure Storage (NYSE: PSTG) out of the conversation. The small digital data company continues to churn out steady growth since its 2015 initial public offering (IPO) but has largely gone unnoticed by many investors -- perhaps until now. In this era of AI, massive amounts of information are a necessity, and Pure Storage's business model may have solved for many of the pain points inherent in owning memory-chip and data-management hardware stocks. Here's what you need to know.
AI systems are big, complex, and expensive to develop and deploy. These software algorithms first need to be trained and then deployed (currently, primarily in a company-owned data center or public cloud provider) to operate. There are three primary ingredients in building these things:
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1 Stock That Could Be Ready to Soar in the Generative AI Era