10 AI News Updates Making Waves on Wall Street

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1.  Amazon.com, Inc. (NASDAQ:AMZN)

Number of Hedge Fund Holders: 338

Amazon.com Inc. (NASDAQ:AMZN) is an American technology company offering e-commerce, cloud computing, and other services, including digital streaming and artificial intelligence solutions. On Friday, February 21, TD Cowen reiterated the stock as “Buy”, stating that its analysis has shown how Amazon Web Services is well positioned for AI.

“We Estimate AWS Could Generate ~4x Incremental GenAI Revenue per Incremental GenAI Capex (on avg) from ’26-’30.”

Revenue forecasts for the firm reveal how the firm estimates AWS’s GenAI revenue to be approximately $2.8 billion in 2024. This will rise to $7.1 billion in 2025 and reach $56.3 billion by 2030, representing a compound annual growth rate (CAGR) of 51% from 2025 to 2030.

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

READ NEXT: 20 Best AI Stock To Buy Now and Complete List of All AI Companies Under $2 Billion Market Cap.

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