15 AI News Investors Should Not Miss

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1. Amazon.com Inc (NASDAQ:AMZN)

Number of Hedge Fund Holders: 308

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. Amazon.com Inc (NASDAQ:AMZN) uses artificial intelligence for everything from reinventing shopping experiences to automated ad creatives, streamlining healthcare access, and more with generative AI powered by Amazon Web Services.

In its latest step in advancing its reach towards AI, Amazon.com Inc (NASDAQ:AMZN) has struck a five-year deal with startup Databricks, a data and artificial intelligence company. This deal can potentially help businesses looking to cut costs when building their own artificial intelligence capabilities by developing custom generative AI models built with Databricks Mosaic AI on AWS.

Databricks will be using Amazon’s Trainium AI chips for powering the training and serving of their large language models, providing joint customers with unmatched scale, performance, and cost-efficiency for their generative AI applications. While many tech analysts and business leaders don’t consider Amazon.com Inc (NASDAQ:AMZN) as a leader in AI innovation, its AI chips, Trainium and Inferentia, are helping it change the narrative and that too, cost-efficiently.

“Generative AI is disrupting every industry and a company’s data will ultimately be its competitive advantage. Strengthening our collaboration with AWS allows us to provide customers with unmatched scale and price-performance so they can bring their own generative AI applications to market more rapidly”.

-Ali Ghodsi, Co-founder and CEO at Databricks.

Overall, AMZN ranks first among the 15 AI News Investors Should Not Miss. 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: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock.

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