10 AI News Investors Probably Missed

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1. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Holders: 193

NVIDIA Corporation (NASDAQ:NVDA) focuses on AI-powered solutions, providing platforms for data centers, autonomous driving, robotics, and cloud computing.

Nvidia has finalized its $700 million acquisition of Israeli AI firm Run:ai after receiving unconditional approval from the European Commission earlier this month, Reuters reported. The deal, announced in April, underwent antitrust scrutiny over concerns about competition in the AI and GPU markets. While Nvidia holds about 80% of the AI GPU market, regulators found no significant competitive risks. Run:ai, which plans to make its software open-source to expand across the AI ecosystem, remains under review by the U.S. Department of Justice for antitrust considerations.

While we acknowledge the potential of NVIDIA Corporation (NASDAQ:NVDA) as an investment, our conviction lies in the belief that 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 NVDA 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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