Pre-retirement traders have been interested in AI stocks since the launch of ChatGPT

Individual investors aged 55 or over are welcoming the AI ​​revolution with open arms, and the number of AI stock traders on eToro is growing faster than any other age group.

In a nutshell

• Data from the eToro platform shows 60 percent. an increase in the number of people over 55 investing in popular AI stocks, compared to 41% in 18 growth among people aged 34-XNUMX
• C3.ai, Intel and NVIDIA have the biggest spikes in open positions quarterly among people over 55
• According to eToro data, the Puls Investor Individual survey shows that 17 percent. of people over 55 are increasing their allocation to sectors that can benefit from AI

CHECK: How to invest in artificial intelligence? List of stocks and ETFs [Guide]

AI stock boom

Data eToro show that since running the tool GPT-chat at the end of November 2022, there was a significant increase in trading activity for popular AI shares among senior investors [see: table].

In the first quarter of 2023, there was a 60 percent jump in opening positions in one of these stocks by people over 55 compared to the fourth quarter of 2022. For users aged 18-34, the increase is 41%, and for users aged 35-44 - 54%.

Among the stocks in the AI ​​basket, by far the largest increase in newly opened positions for people over 55 was C3. ai, with a 22 percent increase, about three times the increase seen in other age groups. C000. ai is one of many AI companies that saw huge stock price gains in 3, the stock was up 2023 percent. since the beginning of the year, which explains the staggering increase in the number of eToro users holding stocks.

People over 55 also turned to Intel, noting 93 percent. jump in newly opened positions on a quarter-on-quarter basis. Other stocks that have seen increased interest among older investors include NVIDIA (91 percent increase in new items) and SenintelOne (84 percent increase).

Data from the recent eToro Individual Investor Pulse survey – a global survey of 10 individual investors in 000 countries – confirms this trend, revealing that a significant number of over 13s are ready to incorporate AI and machine learning into their trading approach. About one in six (55%) say they plan to increase investment in sectors that can benefit from AI, while only 17% say they plan to invest more in sectors that can benefit from AI. it claims to be reducing its allocation in such sectors. In addition, nearly half (5%) of this age group would use AI or machine learning to manage their portfolio instead of a traditional fund manager.

Commenting on the data, Ben Laidler, Global Markets Strategist at eToro, said:

It is commonly assumed that it is the young, tech-savvy who embrace AI the most, but our data clearly shows that ChatGPT-mania has permeated all age groups, with a large number of older investors involved in the process. 

eToro users approaching or already retired are adopting AI-related stocks at a faster pace than their younger colleagues, thus breaking many stereotypes related to tech-adoption. This is a reminder that technology is a key driver and that it creates opportunities for all.

Ben Laidler adds:

In addition to the fact that AI is increasingly investing, it has the potential to play a major role in the strategy of individual investors. By enabling them to analyze huge amounts of data, generate new investment ideas and overcome human biases, AI has the potential to tip the scales more towards individual investors in the future.

Table 1: Growth in New Opens in Q1 2023 vs Q4 2022 among eToro's global user base