12 Trending AI Stocks on Latest News and Ratings

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

Number of Hedge Fund Holders: 286

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 February 5th, Reuters reported that the company is set to release its long-awaited – and delayed – Alexa generative artificial intelligence voice service. The press event has been scheduled for later this month to preview. The report further elaborates that Amazon sent press invites on Wednesday to an event to be held on February 26 in New York. This event will be featuring the head of its devices and services team, Panos Panay. While the spokesperson said the event will be Alexa-focused, they declined to elaborate. The new generative AI-powered Alexa is designed to be able to converse with humans, and the company hopes it can eventually convert some of its hundreds of millions of users into paying customers. This is an attempt to generate returns for the unprofitable business. Company executives have said that AI service will be able to respond to multiple prompts in sequence and even act as an “agent” on behalf of users. February 14 marks a Go/ No Go meeting to make a final decision on the “street readiness” of Alexa’s generative AI revamp.

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 timeframe. 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 Stock To Buy Now and Complete List of All AI Companies Under $2 Billion Market Cap.

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