We recently compiled a list of the 15 Trending AI Stocks on Latest News. In this article, we are going to take a look at where Amazon.com, Inc. (NASDAQ:AMZN) stands against the other trending AI stocks on latest news.
Artificial intelligence has established deep roots within human society in a very short space of time. The latest manifestation of this is the latest advertisement by Coca-Cola, one of the most popular drink brands in the world, which was made entirely using AI features. However, these advertisements have not been well-received on social media. Per a report by news platform Forbes, the AI-generated Christmas ads have sparked mockery and caution from social media users. The ads were created by Secret Level, Silverside AI and Wild Card, who used AI models Leonardo, Luma, Runway, and Kling, for creative inspiration.
Read more about these developments by accessing 10 Best AI Data Center Stocks and 10 Buzzing AI Stocks According to Goldman Sachs.
Meanwhile, finance news publication Financial Times reports that China’s biggest tech groups are building artificial intelligence teams in Silicon Valley. Per the report, the Chinese are hoping to poach staff from US rivals who could help them make up ground in the race to profit from generative AI. FT claims that Alibaba, ByteDance and Meituan are three Chinese firms that have been expanding their offices in California in recent months. This is part of a larger push that comes despite Washington’s efforts to slow down their work by restricting exports of the highest-end AI chips to the Asian country.
READ ALSO: 30 Most Important AI Stocks According to BlackRock and Beyond the Tech Giants: 35 Non-Tech AI Opportunities.
For this article, we selected AI stocks by combing through news articles, stock analysis, and press releases. These stocks are also popular among hedge funds.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here)
A customer entering an internet retail store, illustrating the convenience of online shopping.
Amazon.com, Inc. (NASDAQ:AMZN)
Market Capitalization: $2.1 Trillion
Amazon.com, Inc. (NASDAQ:AMZN) operates as a technology conglomerate with core interests in the ecommerce business. On November 15, Clean Air Task Force (CATF), a non-profit dedicated to advancing carbon-free energy solutions, released a report detailing that AI can fast forward fusion’s energy development by enhancing research, optimizing designs, improving diagnostics, and streamlining workflows. Fusion is a natural process that generates energy and can be replicated in controlled environments. The report, supported by Amazon, also found that by advancing fusion energy technologies, AI can further power the digital transformation of industries by delivering scalable carbon-free energy to grids in a way that complements existing renewable energy technologies like wind and solar.
Overall, AMZN ranks 4th on our list of trending AI stocks on latest news. While we acknowledge the potential of AMZN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than AMZN but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.