10 AI News Investors Should Not Miss

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1. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 158

Apple Inc. (NASDAQ:AAPL) is a technology company that has strengthened its mark in the AI realm with the launch of Apple Intelligence, its intelligence system that enhances its devices and services worldwide. On December 3rd, Apple reported that it is currently using Amazon Web Services’ custom artificial intelligence chips for services like search. It also said that it will evaluate if the company’s latest AI chip can be used to pre-train its models like Apple Intelligence.

The company recently appeared in Amazon’s AWS Reinvent conference, revealing its usage, and also endorsing Amazon as it competes with Microsoft Azure and Google Cloud for AI dominance. Benoit Dupin, Apple’s senior director of machine learning and AI, suggested that Apple would use Amazon’s Trainium 2 chip to pretrain its proprietary models.  AWS CEO Matt Garman also revealed that Apple had been an early adopter and beta-tester for the company’s Trainium chips.

While we acknowledge the potential of AAPL 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 AAPL 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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