10 Best AI Data Center Stocks

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3. Meta Platforms, Inc. (NASDAQ:META)

Number of Hedge Fund Holders: 219

Meta Platforms, Inc. (NASDAQ:META) engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. At the beginning of this year, the company announced that it would be allocating nearly $37 billion towards capital expenditures, the bulk of which would go towards building AI data centers. This was $2 billion more than anticipated. Susan Li, the chief financial officer at the company, underlined that continued investment in the hardware needed to train and run artificial intelligence systems would necessitate an increase in spending. As part of this effort, the company has struck a geothermal energy deal with Sage and pledged $800 million towards building a data center in India.

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