10 Buzzing AI Stocks According to Goldman Sachs

4. Alphabet Inc. (NASDAQ:GOOG)

Number of Hedge Fund Holders: 165

Alphabet Inc. (NASDAQ:GOOG) is a California-based technology company that owns and runs the internet search engine Google. Thomas Kurian, the CEO of Google Cloud, spoke at the Goldman Sachs 2024 Communacopia and Technology Conference earlier this month, noting how his company had been way ahead of the others in building AI infrastructure over the past decade. Kurian underlined that these investments were now starting to bear fruit. For example, he revealed that 90% of AI unicorns run on cloud services offered by Google for training and inference. 60% of all AI funded start-ups ever use AI infrastructure developed by Google for training or inference.

Kurian, who was at software firm Oracle before joining Alphabet Inc. (NASDAQ:GOOG), added that traditional companies were also now building both high-performance and generative AI models on the Google Cloud. Kurian gave the example of carmaker Ford Motor Company, detailing that Ford was using the deep learning technology of Google to build simulations for wind tunnel and for virtual wind tunnel simulation, replacing a traditional approach called computational fluid dynamics.