We recently published a list of 15 Trending AI Stocks on Latest News and Ratings. In this article, we are going to take a look at where Meta Platforms, Inc. (NASDAQ:META) stands against other trending AI stocks on latest news and ratings.
When BlackRock, the investment titan with more than $10 trillion in assets under management, invests in something, the finance world pays close attention. This is why Pyramid Analytics, an AI business analytics firm, has been in the news. According to a report by news agency Reuters, the startup recently raised more than $50 million in funding from the investment management firm. Pyramid Analytics operates an AI-powered platform that uses a combination of machine learning and AI to simplify processes and data analysis for clients. Some of the prominent clients of the startup include the US Food and Drug Administration, as well as Hallmark, Deloitte and Volkswagen.
Read more about these developments by accessing 10 Best AI Data Center Stocks and 10 Buzzing AI Stocks According to Goldman Sachs.
Meanwhile, AI markets in Europe were brimming with enthusiasm over the blockbuster debut of LightOn, a GenAI startup based in France, on the Euronext Growth market in Paris. The shares of the firm jumped close to 10% during the initial public offering. The startup builds large language models for businesses and institutions. It was valued at around $65 million in the IPO. AI startups have been fetching soaring valuations on market debuts. They have also been raising hundreds of millions in funding through financing rounds led by venture capital firms as the AI boom sweeps markets around the globe.
READ ALSO: 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).
Meta Platforms, Inc. (NASDAQ:META)
Number of Hedge Fund Holders: 235
Meta Platforms, Inc. (NASDAQ:META) engages in the development of products that enable people to connect and share with friends and family. On November 26, Howard Yu, LEGO Professor of Management and Innovation at IMD Business School, said in a written piece shared with news platform Quartz that he preferred Meta over Google in the AI race, noting that the former was future-ready and the advertising business it had was supercharged with AI, as opposed to the Search business of the latter that was being undermined by AI.
Overall, META ranks 3rd on our list of trending AI stocks on latest news and ratings. While we acknowledge the potential of META 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 timeframe. If you are looking for an AI stock that is more promising than META 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.