10 High-Flying AI Stocks to Watch Today

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

Number of Hedge Fund Holders: 339

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 March 18, JPMorgan reiterated the stock as “Overweight” and said Amazon remains a top idea.

“We believe AMZN should gain retail share in a recessionary environment given low prices, wide selection, fast delivery, & stronger growth in non-discretionary items.”

This development coincides with a recent analysis by Kevin McLaughlin and Anissa Gardizy from The Information. Their report claims that Amazon (AMZN) is undercutting Nvidia with aggressive AI chip discounts.  AWS is reportedly offering server rentals powered by their Trainium chip which offers computing capabilities similar to Nvidia’s H100 semiconductor. However, Amazon’s chip comes at only 25% of the price. The move aims to draw tech giants, including Apple, who are experimenting with the latest version of the Trainium chip as an alternative to Nvidia’s offerings, underscoring Amazon’s strategic focus on AI.

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 time frame. 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 Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

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