In May 2023, CNN released an article titled “ChatGPT can pick stocks better than your fund manager.” The piece was based on the data showing that a group of stocks picked by the AI-powered ChatGPT has outstripped the performance of some of the biggest investment funds in the UK.
Specifically, ChatGPT’s portfolio of 38 stocks gained 4.9% between March 6 and April 28, while 10 major investment funds recorded an average loss of 0.8% during that period, according to financial comparison platform Finder.com.
But it seems the move was not just a lucky shot for ChatGPT, considering that OpenAI’s chatbot continues to pick winners in the stock market. Notably, a group of individuals known as ‘The GPT Portfolio’ on Twitter created a $50,000 portfolio of stocks based solely on ChatGPT suggestions.
Picks for you
Interestingly, the basket of stocks is doing quite well, climbing 8.7% since its inception on May 15 to July 31. In dollar terms, the portfolio’s worth increased by $4,349 during the period, taking its total worth to $54,439.
Which stocks did ChatGPT pick?
As noted earlier, the group of stocks handpicked by ChatGPT gained 8.7% in combined value, though still below the popular SPDR S&P 500 ETF Trust, which advanced 10.4% over the same period.
The SPDR S&P 500 ETF Trust is an exchange-traded fund (ETF) that aims to track the performance of the S&P 500 Index, representing a diverse range of US large-cap stocks.
On the other hand, ChatGPT’s portfolio consists of a far smaller number of stocks. In its latest portfolio update, the AI bot sold 5 stocks, including Tesla (NASDAQ: TSLA), The Trade Desk (NASDAQ: TTD), American International Group (NYSE: AIG), Union Pacific (NYSE: UNP), and Devon Energy (NYSE: DVN).
Meanwhile, stocks that kept their place in ChatGPT’s portfolio are Nvidia (NASDAQ: NVDA), Albemarle Corp. (NYSE: ALB), Microsoft (NASDAQ: MSFT), McDonald’s (NYSE: MCD), and CME Group (NASDAQ: CME).
Finally, ChatGPT also added 5 new stocks in the most recent portfolio update, including Roku (NASDAQ: ROKU), Micron Technology (NASDAQ: MU), ChampionX Corp (NASDAQ: CHX), T Rowe Price Group (NASDAQ: TROW), and Chart Industries (NYSE: GTLS).
According to The GPT Portfolio, its biggest stock market winners from last week were DVN and UNP, which rose by 10% and 7%, respectively.
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