10 AI Stocks Making Waves on Wall Street

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

Number of Hedge Fund Holders: 286

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 February 14, The Washington Post learned that the public release of the new Alexa, Amazon’s cloud-based voice service, has been delayed yet again. Even though the revamped version of the Alexa virtual assistant will be unveiled in New York later this month, the public release has been pushed back.

The said upgrade, known to be “smarter and more conversational”, was first announced back in September 2023 and was a work in progress. The new delay, however, is because the virtual assistant is giving incorrect answers to test questions. According to an employee who wants to remain anonymous, the new version of Alexa will not be available until March 31 or later. This is at least a year and a half after it was initially announced in response to competition from ChatGPT.

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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