10 AI News Dominating Wall Street Today

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1. Vertiv Holdings Co (NYSE:VRT)

Number of Hedge Fund Holders: 91

Vertiv Holdings Co (NYSE:VRT) is a global provider of digital infrastructure technology and services for data centers, communication networks, and commercial and industrial facilities. On December 20, the company announced that its Chinese subsidiary has acquired certain assets and technologies of BiXin Energy Technology (Suzhou) Co., Ltd (BSE). BiXin Energy Technology (Suzhou) Co., Ltd (BSE) is a manufacturer of chillers, heat pumps, heat recovery products, and air-handling units. The acquisition will enable Vertiv to expand its chiller products as well as strengthen its portfolio of critical technologies and solutions in support of high-performance compute and AI applications.

“This acquisition supports our capital allocation strategy, which includes adding technologies that are early in the maturity curve to our portfolio. BSE’s solutions and technologies complement and reinforce Vertiv’s existing chiller portfolio and will assist us in addressing growing air and liquid cooling demand to support high-performance compute and AI. Vertiv has the most complete critical digital infrastructure portfolio and BSE further strengthens our technology offerings that we can provide to customers globally”.

-Giordano Albertazzi, Chief Executive Officer, Vertiv.

While we acknowledge the potential of VRT 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 VRT but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock.

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