{"id":175989,"date":"2023-10-17T22:31:42","date_gmt":"2023-10-17T17:01:42","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=175989"},"modified":"2023-10-17T22:31:42","modified_gmt":"2023-10-17T17:01:42","slug":"u-s-tech-giants-add-2-4-trillion-to-market-cap-in-2023-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/u-s-tech-giants-add-2-4-trillion-to-market-cap-in-2023-crypto-news\/","title":{"rendered":"U.S. tech giants add $2.4 trillion to market cap in 2023 – Crypto News"},"content":{"rendered":"

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U.S. tech giants experienced a remarkable $2.4 trillion surge in market capitalization, largely propelled by widespread enthusiasm for generative artificial intelligence (AI) in 2023, according to Accel\u2019s annual Euroscape<\/a> report.<\/p>\n

According to the report, technology behemoths such as Apple, Microsoft, Alphabet, Amazon, and Nvidia all witnessed a substantial 36% year-on-year increase in their stock values. Notably, Nvidia<\/a> emerged as the frontrunner, breaching the $1 trillion market cap threshold, largely due to its AI chip manufacturing operations.<\/p>\n

AI\u2019s meteoric rise<\/h2>\n

Much of the tech industry\u2019s meteoric rise can be attributed to the sudden and fervent interest in generative AI products like OpenAI\u2019s<\/a> ChatGPT, Google\u2019s Bard, and Anthropic\u2019s<\/a> Claude.<\/p>\n

While OpenAI was at the forefront of this movement, other technology firms also enjoyed substantial growth, either through the development of AI software or through strategic acquisitions of AI startups.<\/p>\n

It\u2019s worth noting that the United States played a pivotal role in this generative AI boom, with OpenAI securing the most substantial funding of any AI company this year, amounting to $10 billion from Microsoft, with an additional $1.3 billion infusion later.<\/p>\n

Anthropic, a key competitor in the generative AI sector, has also attracted substantial funding<\/a> from Amazon and other investors this past year.<\/p>\n

In contrast, Europe\u2019s generative AI funding lagged significantly, amassing only around $500 million. French startups like Hugging Face, Poolside, and Mistral AI secured $235 million, $126 million, and $113 million, respectively.<\/p>\n

Additionally, the year also witnessed a resurgence in the growth of tech unicorns, restoring their numbers to pre-pandemic levels. Impressively, generative AI companies constituted a substantial 80% of U.S. unicorns, while they represented only 40% in Europe and Israel.<\/p>\n

\u201cGenerative AI is redefining the potential of software, bringing the opportunities for enterprise automation and productivity improvement to a new level.\u201d Philippe Botteri, a partner at Accel said.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

U.S. tech giants experienced a remarkable $2.4 trillion surge in market capitalization, largely propelled by widespread enthusiasm for generative artificial intelligence (AI) in 2023, according to Accel\u2019s annual Euroscape report. According to the report, technology behemoths such as Apple, Microsoft, Alphabet, Amazon, and Nvidia all witnessed a substantial 36% year-on-year increase in their stock values. […]<\/p>\n","protected":false},"author":2,"featured_media":161252,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-175989","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/175989","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=175989"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/175989\/revisions"}],"predecessor-version":[{"id":175995,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/175989\/revisions\/175995"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/161252"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=175989"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=175989"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=175989"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}