10 Tech News Updates Investors Should Not Miss

3. Autodesk Inc. (NASDAQ:ADSK)

Number of Hedge Fund Holders: 74

Autodesk Inc. (NASDAQ:ADSK) provides software products and services for architecture, engineering, construction, manufacturing, media, education, and entertainment industries. On March 4th, at the 18th Annual Emerging Technology Summit, the company announced a strategic shift towards integrating AI solutions and restructuring to improve operations. The company’s strategic shift is led by integrating AI capabilities across its portfolios by introducing features such as generative design and workflow optimization.

In its latest earnings report on March 6th, the company logged a total net revenue of $6.13 billion for the year, up 12% compared with the previous fiscal year. The company’s operating expenses increased by 9% to $4.20 billion, driven by higher employee-related costs and cloud hosting expenses.