More than 40% of S&P 500 Companies Mentioned 'AI' in Q2 Earnings Reports

AIbase基地

Published inAI News · 5 min read · Sep 14, 2024

104

In recent market dynamics, artificial intelligence (AI) has emerged as a highly discussed topic. With the surge in interest in this field, an increasing number of S&P500 companies have mentioned "AI" during their second-quarter earnings conference calls.

According to FactSet's document search tool, among all S&P500 companies that held earnings conference calls between June 15 and September 13, a total of 210 companies mentioned "AI" during their meetings.

Robot Computer Office Artificial Intelligence

This figure not only significantly exceeds the average over the past five years (88 companies) but also far surpasses the ten-year average (55 companies). Moreover, it is the second-highest record of S&P500 companies mentioning "AI" since 2014, second only to the 211 companies in the first quarter of 2024.

Among various industries, the information technology sector has shown the highest interest in "AI." In the second-quarter earnings conference calls, 59 companies in the information technology sector mentioned "AI," accounting for 91% of the total companies in this sector. Interestingly, although companies mentioning "AI" had lower average stock performance in the third quarter compared to those that did not, the stock changes of companies mentioning "AI" have been more positive since the beginning of 2023.

Specifically, the average stock change for companies mentioning "AI" since June 30 has been 4.1%, while for companies not mentioning "AI," it was 6.1%. However, from the beginning of the year to now, the stock of companies mentioning "AI" has risen by 12.2%, compared to 8.6% for those not mentioning it.

During the meetings, discussions on artificial intelligence varied among companies. For example, at Meta Platforms, CEO Mark Zuckerberg detailed various applications of AI in company operations during the earnings call on July 31, especially in improving recommendation quality and enhancing user engagement.

He also mentioned the potential of the Meta AI assistant and the importance of AI in advertising and customer communication. These discussions reflect the company's expectations for the future development of AI.

Key Points:

1. 📈 Over 210 S&P500 companies mentioned "AI" during their second-quarter earnings conference calls, setting a high record in the past decade.

2. 💻 The information technology sector has shown the most significant interest in "AI," with 91% of relevant companies mentioning this topic in their earnings reports.

3. 📊 Although companies mentioning "AI" had lower stock performance in the third quarter, the stock changes since the beginning of the year have shown stronger growth.

Lightning AI Secures $50 Million in Funding, PyTorch Lightning Hits 160 Million Downloads

New York-based artificial intelligence company Lightning AI has recently completed a new funding round of $50 million. The investment round includes notable firms such as Cisco Investments, JPMorgan Chase, K5 Global, and technology giant NVIDIA. To date, Lightning AI's total funding has reached $103 million. Led by founder and CEO William Falcon, Lightning AI is known for its deep learning framework, PyTorch Lightning.

Wordware Secures $30 Million in Funding, Making AI Development as Simple as Writing Documents

Recently, San Francisco-based startup Wordware announced the completion of a $30 million seed funding round led by Spark Capital. This investment is one of the largest initial investments in Y Combinator's history. Wordware aims to simplify the AI development process through its natural language platform, enabling non-programmers to easily build AI agents. The core product of Wordware is a full-stack operating system that allows users to...

NVIDIA CEO Admits His Obsession with Google's NotebookLM AI Tool

NVIDIA's leadership position in the field of artificial intelligence is undeniable. Recently, the company's quarterly financial report revealed that NVIDIA sold $31 billion worth of AI systems in the last quarter. Jensen Huang, co-founder and CEO of the company, emphasized the importance of AI applications across various industries during a conversation with Wall Street analysts. In this discussion, Huang mentioned Google's NotebookLM tool, stating that he uses this AI tool 'very frequently'.

Meta's Latest Audio Model SPIRIT LM: Making AI Not Just Talk, But Also Express Emotion!

Recently, Meta AI open-sourced a foundational multimodal language model named SPIRIT LM, which can freely mix text and speech, opening new possibilities for multimodal tasks involving audio and text. SPIRIT LM is based on a pre-trained text language model with 7 billion parameters, which has been continuously trained on text and speech units, expanding into the speech modality. It can understand and generate text like a large text model, while also being capable of understanding and generating speech, and even mixing text and speech to create various forms of expression.