We recently compiled a list of the 9 AI News Updates That Analysts Are Monitoring. In this article, we are going to take a look at where Intel Corporation (NASDAQ:INTC) stands against the other AI stocks analysts are monitoring.
OpenAI of ChatGPT fame has emerged as the poster child of the AI revolution. The AI models behind the famous AI assistant have, however, started to attract unwanted attention in recent months. For example, news publication The Guardian has reported that a group of major news organizations in Canada have sued the AI firm for allegedly strip-mining journalism and unjustly enriching itself by using news articles to train the popular ChatGPT software. Per the report, the suit was filed in the superior court of justice in Ontario and calls for punitive damages, a share of profits made by OpenAI from using the articles, and an injunction barring the San Francisco-based company from using any of the news articles in the future.
Read more about these developments by accessing 10 Best AI Data Center Stocks and 10 Buzzing AI Stocks According to Goldman Sachs.
OpenAI has faced similar suits in recent months but has managed to fight back without incurring financial harm. The latest suit, per the report, includes news platforms like the Globe and Mail, the Canadian Press, the CBC, the Toronto Star, Metroland Media, and Postmedia. The companies want up to C$20,000 in damages for each article used by OpenAI, suggesting a victory in court could be worth billions. As it battles these claims, OpenAI has already signed licensing agreements with a handful of media organizations, including the Associated Press wire service, NewsCorp and Condé Nast.
Read more about these developments by accessing 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 technician soldering components for a semiconductor board.
Intel Corporation (NASDAQ:INTC)
Number of Hedge Fund Holders: 68
Intel Corporation (NASDAQ:INTC) markets key technologies for smart devices. The financial struggles of the chipmaker are in the spotlight yet again as a report from Business Insider showed that Intel’s median employee pay has only increased by 4% over the past five years, per an analysis of annual proxy statements filed with the SEC, compared to rivals like NVIDIA, AMD, and QUALCOMM that have boosted their average pay by at least 12% during the time. As the company rebrands for the AI era, it recently cut about 15% of its employees through voluntary buyouts and layoffs and slashed staff perks.
Overall INTC ranks 7th on our list of AI stocks analysts are monitoring. While we acknowledge the potential of INTC 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 INTC 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.