11 Trending AI Stocks on Latest News and Ratings

3. Autodesk, Inc. (NASDAQ:ADSK)

Number of Hedge Fund Holders: 74

Autodesk, Inc. (NASDAQ:ADSK) is a company that develops software for 3D design, engineering, and entertainment. Professionals in many industries use its software, including architecture, construction, manufacturing, and media and entertainment. The company also utilizes Artificial Intelligence (AI) within its software, allowing users to input design constraints and have AI generate multiple optimized design options. On February 27, the company delivered solid fourth quarter and full year 2024 results and announced it is embarking on a restructuring plan.

Autodesk, Inc. (NASDAQ:ADSK) posted a 12% increase in revenue which amounted to $1.64 billion in Q4 as net income from operations increased to $608 million. Autodesk also announced plans to trim its workforce by 9% or approximately 1,350. The layoff comes as Autodesk remains focused on the convergence of design and integration of artificial intelligence solutions on the cloud.

“We are reallocating internal resources toward these critical areas and beginning the optimization of our go-to-market functions to better meet the evolving needs of our customers and channel partners,” said Autodesk president and CEO Andrew Anagnost. “We expect consistent growth momentum and disciplined execution, reinforced by persistent share repurchases, to deliver sustainable shareholder value over many years.”