On March 6th, CoreWeave, an Nvidia-backed cloud-computing startup, denied claims in a Financial Times report that Microsoft had pulled the plug in some of the agreements it had signed with the cloud provider due to service delivery challenges and missed deadlines.
“We pride ourselves in our client partnerships and there have been no contract cancellations or walking away from commitments. Any claim to the contrary is false and misleading,” a CoreWeave spokesperson told Reuters in an emailed statement.
The news follows after Stack Capital Group made an investment of $10 million in the AI-infrastructure company, according to a company release on March 5th.
“Given its growing data center presence across the United States, Europe, and Canada, CoreWeave is extremely well-positioned to continue capitalizing on accelerating global demand for AI infrastructure and compute capabilities,” said Jeff Parks, CEO of Stack Capital.
According to a Reuters report on March 7th, the Azure parent has begun testing out models from xAI, Meta and DeepSeek to develop AI models to compete with OpenAI.
For this article, we selected AI stocks by going through news articles, stock analysis, and press releases. These stocks are also popular among hedge funds, as of Q4 2024.
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A close-up of a complex network of integrated circuits used in logic semiconductors.
10 Tech News Updates Investors Should Not Miss
10. Arbe Robotics Ltd. (NASDAQ:ARBE)
Number of Hedge Fund Holders: 7
Arbe Robotics Ltd. (NASDAQ:ARBE) is a semiconductor company that provides 4D imaging radar solutions for tier 1 automotive suppliers and automotive manufacturers. On March 5th, the company reported a significant drop in its revenue and a larger than expected net loss during the fourth quarter of 2024. Net loss widened to $49.3 million from $43.5 million in 2023.
A rather poor performance during 2024 can be attributed to broader economic shifts that have impacted the automotive industry. However, the company is aiming to secure fourth design-ins with automakers in 2025 and plans to invest between $5 million to $15 million.
9. Agora Inc. (NASDAQ:API)
Number of Hedge Fund Holders: 11
Agora Inc. (NASDAQ:API) provides developers with APIs to embed real-time voice, video, interactive streaming, chat, and AI capabilities into their applications. On March 5th, the company launched a conversational AI Engine which enables developers to create interactive voice experiences compatible with any AI model. With a seamless real-time engagement, the engine provides ultra-low latency responses and greater voice processing to produce immersive voice AI experiences.
“Most AI models don’t yet offer the ability to interact via voice, and those that do haven’t optimized the experience,” said Tony Zhao, CEO of Agora.
The company is also looking to extend Conversational AI Engine’s features into its App Builder product. The new offering has a wide range of uses such as customer support, IoT integration, virtual shopping assistance, mental health support and live tutoring.
8. Symbotic Inc. (NASDAQ:SYM)
Number of Hedge Fund Holders: 16
Symbotic Inc. (NASDAQ:SYM) builds and operates automated warehouse systems for clients. On March 6th, the company announced the activation of a warehouse modernization initiative at an Associated Food Stores-owned distribution center in Utah. Through Symbotic’s end-to-end automation system with robotic case picking capabilities, the distribution center will bank on accurate and aisle-friendly pallet deliveries to stores.
“We are excited to provide AFS with the innovation, flexibility and reliability provided by Symbotic’s advanced A.I. and warehouse automation technology. We look forward to working with AFS for its next phase and continuing to support its retailers with a superior service experience,” Symbotic CEO, Rock Cohen said.
