10 Best AI Data Center Stocks

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

Number of Hedge Fund Holders: 308   

Amazon.com, Inc. (NASDAQ:AMZN) operates as a technology conglomerate with core interests in the ecommerce business. A report by news publication Bloomberg earlier this year claimed that the company plans to spend nearly $150 billion in the next decade to develop data centers in a bid to spur AI growth. The report was based on AI infrastructure announcements made by the tech giant in the past few years. Some of the areas in which Amazon has pledged to spend billions to develop data centers include northern Virginia, Oregon, and Mississippi in the US, as well as Saudi Arabia, Malaysia, Spain, and the United Kingdom abroad. Amazon is ramping up investments in data centers to keep pace with rival Microsoft.

While we acknowledge the potential of Amazon.com, Inc. (NASDAQ: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 Amazon.com, Inc. (NASDAQ:AMZN) but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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