10 AI Stocks Making Big Moves Today

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1. Amazon.com, Inc. (NASDAQ:AMZN)

Number of Hedge Fund Holders: 339

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 March 4th, renewable energy company GE Vernova reported that it has signed an agreement with Amazon’s cloud services business to support the e-commerce giant’s data center expansion plans. The strategic framework agreement (SFA) will not only support AWS’s data center scaling, but also allow collaboration to address increasing global energy demand, advance grid security and reliability, and decarbonize electric power systems.

GE Vernova will provide AWS with new offerings to electrify and decarbonize data centers across North America, Europe, and Asia. These include electrification systems, renewables, and power generation equipment and services. In turn, AWS will offer GE Vernova its cloud services solutions to progress its cloud migration and digital innovation efforts, including through generative AI.

“Through this expanded collaboration with GE Vernova, we’ll be able to accelerate data and energy efficiencies, driving reliable and more sustainable operations. Our shared goals of addressing increased global energy demand, advancing grid security, and decarbonizing electric power systems will help our customers across the globe.”

-Howard Gefen, general manager, energy & utilities, AWS.

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 time frame. 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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