15 AI News Investors Should Not Miss

11. SentinelOne, Inc. (NYSE:S)

Number of Hedge Fund Holders: 37

SentinelOne, Inc. (NYSE:S) is a leading American cybersecurity AI platform that provides top-tier AI-powered security solutions to its clients. The company’s most sophisticated AI-driven platform, Purple AI, has exceeded expectations and played a significant role in the company’s strong Q2 performance, just months after its official launch.

On October 17, SentinelOne, Inc. (NYSE:S) announced the extension of its strategic collaboration agreement (SCA) with Amazon Web Services (AWS). The partnership, aimed at delivering generative AI benefits, will use SentinelOne’s Purple AI powered by Amazon Bedrock, to provide AI-powered security and protection for customers. The expanded strategic collaboration agreement (SCA) will also increase investments in SentinelOne’s AI-powered Singularity™ Platform within AWS Marketplace. This will empower enterprises to access end-to-end protection from a unified, AI-powered platform quickly and with ease.

“By taking advantage of AWS AI infrastructure and Amazon Bedrock to train, tune, and serve our own models, we can give AWS customers access to today’s best generative AI security analyst – and future Purple AI innovation – delivered entirely inside AWS”.

– Gregor Stewart, Vice President, AI and Machine Learning Engineering, SentinelOne

On October 17, Needham, an independent investment bank and asset management firm, resumed a “Buy” rating on the company’s stock, with a price target of $32. The coverage resumption followed after it attended the company’s first-ever analyst event in Las Vegas. The company’s expanding platform, enhanced go-to-market, and improving execution had made them confident in SentinelOne, Needham’s analyst told investors in a research note. Moreover, its partnership with Lenovo last month is also considered “transformational”, driving a “compelling upside” to new annual recurring revenue estimates over the coming years.