AI trends are sweeping markets globally. On November 14, TikTok, the popular social media application owned by Chinese firm ByteDance, announced the availability of Symphony Creative Studios, a generative AI video creation platform it has developed, to all advertisers. According to a report by news agency Reuters, the launch is part of a larger plan by the Chinese tech giant to boost its ad business. A press release from the company indicates that some AI features included in the new platform are turning text inputs into videos, generating previews that can be edited to finalize the content, remixing, digital avatar creation, as well as translation and more.
Read more about these developments by accessing 10 Best AI Data Center Stocks and 10 Buzzing AI Stocks According to Goldman Sachs.
Meanwhile, Foxconn, the Taiwan-based company that is one of the largest contract manufacturers of electronics in the world, announced that it expects robust growth in its artificial intelligence server business next year and will increase investment in several countries amid mounting trade tensions between the US and China. Per a report by Reuters, Young Liu, the chairman of the firm, said after the quarterly earnings results that his firm would be watching to see what policies Donald Trump implements as US president. He added that Foxconn plants in Wisconsin and Texas have seen steady growth in sales on strong demand for AI servers, and the outlook for US operations was positive.
Read more about these developments by accessing 30 Most Important AI Stocks According to BlackRock and Beyond the Tech Giants: 35 Non-Tech AI Opportunities.
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AI News That Broke The Internet This Week
15. Tetra Tech, Inc. (NASDAQ:TTEK)
Market Capitalization: $10 Billion
Tetra Tech, Inc. (NASDAQ:TTEK) provides consulting and engineering services in the United States and internationally. The firm provides cooling solutions to data centers. On November 15, KeyBanc lowered the price target on the stock to $49 from $56 and kept an Overweight rating on the shares. Tetra Tech’s Q4 was above consensus and guidance was right along the midpoints of its long-term framework, the advisory told investors in a research note. KeyBanc believes Tetra Tech is the right high quality name to own in an uncertain policy environment.
