15 AI News Investors Should Not Miss

9. Autodesk, Inc. (NASDAQ:ADSK)

Number of Hedge Fund Holders: 55

Autodesk, Inc. (NASDAQ:ADSK) is an American multinational software corporation offering 3D design, engineering, and entertainment technology solutions worldwide. Autodesk leverages generative AI technology to drive innovation across the design, construction, manufacturing, and entertainment industries.

Autodesk, Inc. (NASDAQ:ADSK), at the annual Design & Make conference, Autodesk University, unveiled new artificial intelligence capabilities and data integrations that aim to accelerate the digital transformation of the architecture, engineering, construction, and operations (AECO) industry. Entering nearly every discussion when it comes to AI, the company has announced Autodesk AI-powered time-saving automation coming to Autodesk Fusion. Other key AI advancements include tools like the ML Deformer in Maya for real-time character posing, AI denoising in Arnold to reduce rendering times, and Wonder Studio’s new Motion Prediction feature, which anticipates character movements for more natural poses. The company will also continue to develop Autodesk Flow, an industry cloud designed to streamline workflows and data management.

After attending Autodesk University, Oppenheimer has maintained an “Outperform” rating on the company’s stock, raising the firm’s price target from $275 to $300. The company plans to focus on long-term AI monetization, expanding its product portfolio and enhancing productivity.

According to reports from Fintel, on Wednesday, October 16, Wells Fargo also initiated Autodesk, Inc. (NASDAQ:ADSK) with an “Overweight” recommendation. The financial services company states that it is bullish on the software company.

“We initiate OW on ADSK given our confidence recent model transitions help pave a cleaner path forward for reaccelerating rev growth & a return to 30+% FCF margin.”