The second half of 2024 has turned out to be a solid one for Zoom Communications (NASDAQ: ZM), as shares of the online communications platform provider have shot up roughly 44% since the beginning of July (as of this writing).

The rapidly growing adoption of artificial intelligence (AI) has given shares of many companies a big boost in the past couple of years, and that's not surprising as this technology is expected to impact the global economy in a big way.

Nvidia’s stock surge could require the Jen-Hsun & Lori Huang Foundation to give away at least $120 million this year.

It's been an excellent year for stock market investors. The S&P 500 index has delivered an excellent 26% return thus far in 2024, driven by resilient macroeconomic conditions, record corporate earnings, and growing optimism about artificial intelligence's (AI) transformative potential across the economy.

Analysts have been busy updating their discounted cash flow models and price targets for Nvidia (NVDA) after the most important AI company in the world failed to give the sort of blow-out revenue guidance Wall Street has come to expect.

Both Microsoft and Alphabet possess potent AI offerings, helping to drive double-digit year-over-year revenue growth for each. Alphabet infused impressive AI capabilities across its services, but antitrust lawsuits hang over its head.