10 AI Stocks Making Waves on Wall Street

8. International Business Machines Corporation (NYSE:IBM)

Number of Hedge Fund Holders: 60

International Business Machines Corporation (NYSE:IBM) is a multinational technology company and a pioneer in artificial intelligence, offering AI consulting services and a suite of AI software products. On February 28, the company announced that it has completed its $6.4 billion acquisition of HashiCorp (HCP).

According to IBM, products from HashiCorp automate and secure the infrastructure that underpins hybrid cloud applications and generative AI. The acquisition sustains IBM’s broad investments in automation software, allowing organizations to optimize their IT spending and lower costs.

“Organizations globally are looking to deploy modern, hybrid cloud-ready apps, which require automated cloud infrastructure at significant scale. With this acquisition, IBM is committed to continuing to invest in and grow the HashiCorp capabilities, and together, with HashiCorp’s leading technology and extensive developer community, IBM’s global reach and R&D resources, our aim is to infuse HashiCorp technology in every data center.”

-Rob Thomas, Senior Vice President, IBM Software and Chief Commercial Officer.