11 AI News Updates Investors Should Not Miss

2. Accenture Plc (NYSE:ACN)

Number of Hedge Fund Holders: 79

Accenture Plc (NYSE:ACN) is an information technology service company specializing in consulting, technology, and outsourcing. It helps clients across various industries improve efficiency, adopt innovative technologies, and achieve digital transformation. It also assists businesses in leveraging AI and data for reinvention, offering AI services, solutions, and consulting. On March 11, the company confirmed it had reached an agreement to acquire Soben, a global provider of construction and consultancy services.

The acquisition strengthens Accenture Plc’s (NYSE:ACN) prospects of targeting opportunities in the data center construction consultancy market amid the artificial intelligence boom. Soben is a perfect fit as it works for leading global hyperscalers and co-location providers on major data centre construction. Consequently, it should benefit from the AI infrastructure build-out, which is expected to continue for years.

“The market for capital projects and especially data centers is growing rapidly, driven by ever-higher demand for cloud computing and AI and exponential data growth,” said Steve Roberts, senior managing director, Accenture Industry X. “Hyperscalers and co-location companies are under tremendous pressure to deliver on this demand. They need a provider that brings data center expertise plus proven capital projects experience, which is what the combination of Soben and Accenture, will stand for.”