coinspress.com
Traders are experimenting with the idea of utilizing artificial intelligence to surpass human performance in the stock market.
27,000 individuals have invested a noteworthy sum of $17,522,634 in a novel investment platform offered by Autopilot, a copy trading company.
The GPT Portfolio AI is specifically designed to examine 10,000 news articles on a weekly basis, ultimately choosing the top 100 companies.
Once these companies are identified, the bot then scrutinizes financial statements to carefully select 20 stocks for investment purposes.
Buy and sell orders are executed within a timeframe of three to five days.
The aim of this model is to verify whether AI can truly generate returns of 500% or higher, a claim proposed by a study conducted at the University of Florida.
During the week of May 30th, the GPT Portfolio consisted of the following 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)
Besides these stocks, there are 3 ETFs in the GPT Portfolio: ProShares Short Real Estate (REK), ProShares Short Financials (SEF) and ProShares UltraShort Consumer Staples (SZK)
Not to be outshined, the financial giant JPMorgan is also in the process of developing its own AI-based investment platform.
The company recently filed a trademark application for a product named IndexGPT, which will employ AI for “analyzing and selecting securities tailored to customer needs.”