Traders are testing the theory that artificial intelligence can outperform humanity in the stock market.
27,000 investors have placed a total of $17,522,634 at time of publishing into a new ChatGPT-based investment platform from the copy trading firm Autopilot.
The GPT Portfolio AI is designed to analyze 10,000 news articles on a weekly basis to select 100 top companies.
Once those companies are selected, the bot then analyzes financial statements to select 20 stocks to invest in.
Buy and sell orders are every three to five days.
The model is designed to show whether AI really can deliver 500% or more returns, as suggested by a study from the University of Florida.
On the week of May 30th, the GPT Portfolio consisted of these 20 stocks:
- Microsoft (MSFT)
- Vertex Pharmaceuticals Incorporated (VRTX)
- Trade Desk Inc (TTD)
- Booz Allen Hamilton Holding Corporation (BAH)
- Broadcom Inc (AVGO)
- Graco Inc (GGG)
- Kroger Co (KR)
- KLA Corp (KLAC)
- Intuitive Surgical Inc (ISRG)
- Murphy USA Inc (MUSA)
- Palantir Technologies Inc (PLTR)
- Ford Motor Co (F)
- Exelixis Inc (EXEL)
- Photronics Inc (PLAB)
- Axon Enterprise Inc (AXON)
- Crown Castle Inc (CCI)
- Tesla Inc (TSLA)
Not to be outdone, financial giant JPMorgan is also developing its own AI-based investing platform.
The company just applied to trademark a product called IndexGPT, which will utilize AI to “analyze and selecting securities tailored to customer needs.”
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