The Business Journals•
4 months ago
According to a report published by Goldman Sachs, the 'Magnificent Seven' – Apple, Amazon, Alphabet, Microsoft, Facebook, Alibaba, and Tencent – are expected to benefit significantly from the growth of AI in 2023. The report projects that these companies will enjoy a combined market capitalization of $10.1 trillion by that year, with AI applications in areas such as healthcare, finance, and e-commerce driving revenue growth. Goldman Sachs also predicted that AI-related spending would add an estimated $8 trillion to the global economy by 2030, of which the 'Magnificent Seven' would be major beneficiaries.
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