10 AI Stocks Investors are Watching Closely

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1. Alibaba Group Holding Limited (NYSE:BABA)

Number of Hedge Fund Holders: 115

Alibaba Group Holding Limited (NYSE:BABA) is an online retailer that leverages AI in its e-commerce business. On January 21, the South China Morning Post reported that Alibaba Cloud, the cloud computing services and artificial intelligence (AI) arm of Alibaba Group Holding, has revealed an expanded suite of its proprietary large language models (LLMs) and development tools for global developers. The move comes amidst the company’s efforts to push into overseas markets. Alibaba Cloud said at its annual developer summit in Indonesia that the latest products under its Tongyi Qianwen family of LLMs, as well as multimodal AI models, are now available to global developers via application programming interfaces (APIs) on Model Studio, its generative AI (GenAI) development platform.

“Alibaba Cloud is committed to delivering real value to global developers through cutting-edge AI models, enhanced cloud infrastructure, and accessible support programmes”.

-Guo Dongliang, vice-president of international business and head of international products and solutions at Alibaba Cloud Intelligence, said at the event.

While we acknowledge the potential of BABA 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 BABA 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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