As the year 2024 unfolds, investors are likely to reflect on significant stock movements resulting from the artificial intelligence (AI) boomThe trend has produced a mix of soaring successes and dramatic collapses among companies trying to capitalize on this technological waveWhile some stocks have ridden the AI frenzy to unprecedented heights, others, burdened by inherent corporate challenges, have faced unexpected declines.

Investors keen on US technology stocks will undoubtedly recall this year's surge in "AI trading" sentiment, which has reached a fervent peakNotable technology giants such as Nvidia and Meta Platforms have significantly impacted the S&P 500 index, leading it to impressive gains and record highs for the third consecutive yearHowever, amid this technological renaissance, the stock market has also witnessed a range of dramatic, cinematic events that rival Hollywood storylines.

Among the companies experiencing the trials of this tumultuous year was Super Micro Computer (SMCI), a prominent player in AI hardware, which suddenly faced severe accounting issues that resulted in a plummeting stock price and raised questions about its capacity to continue publicly trading

Additionally, industry stalwart Intel, despite benefiting from the AI boom, found itself in a dismal position, falling behind its rivals Nvidia and AMD amid an ongoing battle for market shareThe company's promising turnaround plans faltered, leading to a disastrous decline in its fundamentals and, ultimately, the resignations of key executives, including the CEO.

In this retrospective of 2024, we will spotlight five of the most talked-about stocks within the financial media: Reddit, Palantir Technologies, Vistra, Intel, and Super Micro ComputerThe narratives behind these companies paint a vivid picture of how they navigated the stock market surge, some soaring due to strategic AI developments while others plummeted under the weight of company-specific issues.

Let’s begin with Reddit, the socially-driven platform often referred to as the "American Baidu." The company made headlines with its initial public offering (IPO) in March, which garnered enthusiasm from global investors

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Few could have predicted the stock's astonishing performance post-listing, skyrocketing an incredible 382%. Much of this surge can be attributed to Reddit's partnerships with AI leaders such as OpenAI and Google that sought access to the platform's vast and unique sets of training data for developing their language modelsReddit has also invested in creating better monetization strategies from its users, yielding a robust quarterly performance that fueled its stock rise.

According to reports from Morgan Stanley analyst Brian Novak, Reddit's stock outperformed that of Meta and other social media peers, indicating vast room for future growth moving into 2025. He raised the rating on the stock, emphasizing that its training agreements with AI leaders, increased user engagement, and advertising initiatives would sustain growth momentum going forward.

Statistical data highlighted that Reddit's stock trended exceptionally well in October, with an 81% increase, indicative of the platform besting market expectations on both performance and outlook, underpinning the effectiveness of its advertising technology investments

The extensive repository of user-generated content provided by Reddit has become a vital resource for AI companies like Google and OpenAI, propelling organizational growth.

Turning to Palantir Technologies, few software companies showcase growth rates exceeding 50%, yet Palantir has consistently achieved such high numbers due to strong demand for its AI-integrated data analytic servicesThe company's anticipated sales growth leaped from 17% in the previous year to a projected 26% in 2024, reflective of the soaring appetite from both government and corporations for its innovative solutions.

With its stock price surging by 332%, Palantir's market valuation soared from $37 billion to nearly $170 billion early in the year, culminating in its inclusion in the NASDAQ 100 index, further increasing its visibility among investors looking for exposure to lucrative tech stocks.

Optimizing the synergy between AI and data analysis, Palantir reported substantial revenue that outpaced analyst projections

Its third-quarter earnings exceeded estimates, bolstered by rising needs for its generative AI applications, creating a positive economic signal for the company's future profitability and stock valuation.

Despite the stock's impressive surge, Wall Street remains cautiously optimistic about its performanceBloomberg's analysis reveals a significant valuation, with Palantir's price-to-earnings ratio exceeding 150x, making it the second most-expensive stock in the S&P 500. Only three of 22 analysts covering the stock issued buy ratings, underscoring the wary sentiment in the market moving forward.

Next, we delve into Vistra, a utility company that has emerged remarkably beneath the heavy energy demands from data centers fueled by AI applications like ChatGPTThe pressing need for data centers shows no signs of abating, with forecasted electricity usage set to double significantly in the coming years

Vistra has positioned itself well amid rising energy demands, boasting a stock rise of an astounding 256% in 2024, surpassing even Nvidia's remarkable gains.

As government entities and tech giants commit to major investments within AI, particularly in energy-consuming data centers, Vistra's prospects have looked promisingIts practices underscore the increasing reliance on robust and sustainable infrastructure to support high-efficiency AI operations and large-scale AI model upgrades.

Financial forecasts show a tangible surge in capital expenditures connected to data centers by major tech firms, projecting at least 40% growth by 2025, which will be directly linked to the presentation of generative AI applicationsThe ongoing early-stage adoption of AI in corporate environments indicates robust future demands for AI-driven technologies.

Intel, a familiar name in the semiconductor domain, ventured into 2024 with investors expressing hope regarding its growth potential stemming from improved chip fabrication and AI adoption

However, this anticipation proved misplaced as Intel grappled with a staggering 62% decline in stock price, struggling to compete with robust competitors like Nvidia and AMD while additionally facing high costs related to new manufacturing technologies.

After years of commitment to a regular dividend payout, Intel announced its suspension of dividends due to mounting financial pressure, alongside workforce reductions impacting 15,000 employeesConsequently, the company’s leadership has become unstable, creating uncertainty about Intel’s future direction, as it searches for a new CEO amidst competing strategic priorities.

Competitive roadmaps have also sparked debate among analysts, especially regarding Intel's aspirations to catch up with rivals in semiconductor productionOnly seven out of over fifty analysts following the firm recommended buying Intel shares, revealing a consensus of caution emanating from the investment community.

Lastly, we revisit Super Micro Computer, which experienced a meteoric rise earlier in 2024 due to soaring orders for AI server supplies but has recently faced scrutiny