Since the rise of ChatGPT, many investors have been doubling down on artificial intelligence (AI) stocks. This new technology is already on its way to creating a new generation of millionaires. It’s no surprise that Wall Street would be fully embracing AI, but it turns out that one of the United States’ most prominent politicians. Former House Speaker Nancy Pelosi is well known for her stock trading activity. Recent data from Quiver Quantitative has revealed that she is enjoying an excellent year, reaping profits of $12.5 from her Microsoft (NASDAQ:MSFT) investments. MSFT stock isn’t her only holding, but it has certainly been paying dividends in 2023.

Does this mean that other investors should follow Pelosi’s example and bet on this tech leader? Let’s take a closer look at the economic landscape and assess what investors should be expecting.

Pelosi Is Still Betting Big on MSFT Stock

Betting on tech stocks is fairly common for Pelosi. Quiver Quantitative’s data shows that she also recently increased her Apple (NASDAQ:AAPL) holdings. But these smart investments are proving more lucrative than her time in Congress. According to a tweet from the platform, her profits from MSFT stock are almost 100 times her salary as a public servant. She isn’t the only member of her family who is cashing in. InvestorPlace‘s Shrey Dua reports that her husband, Paul Pelosi, ended June 2023 by executing 50 call options on AAPL stock worth roughly $2.6 million.

While MSFT stock is down today, there is no question that it has enjoyed an excellent year. As of this writing, shares are up almost 48% year-to-date (YTD), with sufficient progress made over the past two quarters. With the AI boom propelling both large and small-cap tech stocks higher, this isn’t surprising. Microsoft is at the forefront of this movement, and it has ample room to keep rising. This is likely factoring into Pelosi’s decision to double down on it, as are the multiple positive catalysts on the horizon As InvestorPlace contributor Vandita Jadeja reports:

“Besides the investment in OpenAI, Microsoft is also developing its own AI chip named Athena. This chip will have the ability to power the technology behind AI chatbots. By producing chips, the company will be able to save money that goes into buying chips from other vendors. If the chips perform well, it will put Microsoft into direct competition with Nvidia.”

For those reasons, Jadeja sees Microsoft as an AI stock that can help investors get rich in 2023, placing it alongside AI standout Nvidia (NASDAQ:NVDA). Clearly, that has proven true for Pelosi. Plenty of other experts share this optimism. InvestorPlace‘s Louis Navellier recently made the case for MSFT stock to rise to $400 per share in a few months or even less. It should be noted that share prices reached an all-time high yesterday, driven primarily by some updates regarding the company’s Copilot AI solution.

However, if Navellier’s thesis is correct, MSFT will continue soaring in the near future as the AI boom continues to mint new market winners. Pelosi is likely to hang onto it, as are the other investors who added Microsoft to their portfolio before 2023.

On the date of publication, Samuel O’Brient did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.