Worries over the sustainability over the artificial intelligence spending boom have dampened AI stocks to start 2025. And while stocks like Nvidia (NASDAQ:NVDA) have taken a hit for this and other reasons, Morgan Stanley has pointed to a number of upcoming events that could renew optimism in the space.

Two of the biggest events are Google's (NASDAQ:GOOG) (NASDAQ:GOOGL) Cloud Next and Meta's (NASDAQ:META) LlamaCon, scheduled for April 9-11 and April 29, respectively.

For Google, it's widely expected to talk more about its recent proposed acquisition of Wiz. However, Morgan Stanley's analysts also expect the tech giant to talk more about how Wiz will be further integrated into the Google Cloud Platform ecosystem. “GOOGL may also share additional AI integrations/use cases that are seeing traction among enterprises,” the analysts wrote.

For Meta, the developer-focused LlamaCon should provide updates on the Llama family of models, along with other AI innovations, the analysts said. “We will be on the lookout for the potential release of Llama 4 and new agentic/reasoning capabilities, important updates around Meta AI adoption, and upcoming product pipelines.”

Aside from those two events, both companies have a number of potential catalysts for AI in the coming months. For Meta, these include the release of Llama 4 (Spring 2025); Meta Connect (September 17-18); and the possibility of an AI search product, which the analysts said could lead to “an additional path to monetization for Meta AI while also driving higher engagement.”

For Google, which recently released its Gemini 2.5 model, upcoming AI catalysts include Google I/O (May 20-21); Google Marketing Live (May 21); and a few Waymo-related updates, including next year's expected launch in Washington D.C.

Other catalysts

There are a number of other potential AI-related catalysts coming over the next several months, include the launch of OpenAI's GPT-5.

GPT-5, which is expected to launch in the middle to latter part of the year, is important for various reasons, the analysts said. “OpenAI has been at the forefront of innovation within generative AI and we anticipate GPT 5 to feature the latest advancements in reasoning, memory, and multimodal capabilities.”

Perplexity recently launched a new travel-focused feature, which lets consumers book hotels right on Perplexity.

“As travel continues to grow as a use case for AI, providing the ability for users to go one step further and book a hotel, car rental, and flight through Perplexity has the potential for monetization and increased engagement,” the analysts added.

Other potential AI catalysts stem from Amazon (AMZN), including the launch of its Alexa+ service; its Health AI service (second half of the year); and its cloud computing re:Invent conference, scheduled for the first week of December.