10 AI News Investors Should Not Miss

5. Alphabet Inc. (NASDAQ:GOOG)

Number of Hedge Fund Holders: 165

Alphabet Inc. (NASDAQ:GOOG) is an American multinational technology conglomerate holding company wholly owning the internet giant Google, amongst other businesses. Their subsidiary Google has been using artificial intelligence technology for years, integrating advanced AI across its products like Search, Assistant, and Cloud solutions.

Autonomous driving is one of the most exciting use cases of AI that’s gaining traction right now, and Alphabet is at the forefront of innovation in AVs. On October 25, The company’s self-driving unit Waymo reported that it had closed a $5.6 billion funding round. Despite skepticism and regulatory challenges, automakers and tech firms alike are investing in autonomous ride-hailing services to drive commercial success. Waymo revealed that existing investors including Andreessen Horowitz, Fidelity, Perry Creek, Silver Lake, Tiger Global, and T. Rowe Price have also participated in the funding round.

“With this latest investment, we will continue to welcome more riders into our Waymo One ride-hailing service in San Francisco, Phoenix, and Los Angeles, and in Austin and Atlanta through our expanded partnership with Uber,” the company said.