In this article, we discuss the 15 AI news you should not ignore.
Even as the United States pursues a tougher trade policy towards China, the latest indication being the tightening of export restrictions on advanced AI chips, companies from the Asian country continue to debut on the US stock market with elevated investor interest. For example, Pony AI, a China-based autonomous vehicle technology company, recently held an initial public offering that saw shares jump 15% in the market debut, pushing the valuation of the firm to more than $5.25 billion. News agency Reuters reports that the successful debut also suggested a positive investor approach to China-based firms.
Read more about these developments by accessing 10 Best AI Data Center Stocks and 10 Buzzing AI Stocks According to Goldman Sachs.
The IPO price of the stock was $13 per share but the depositary shares opened at $15 in their Nasdaq debut, per the report. Even after the stellar debut, the new company faces several challenges, the report added, including public skepticism about autonomous vehicles, data privacy concerns, and competition from companies, including Tesla which has promised to roll out driverless ride-hailing services to the public in California and Texas next year. The company has said that its US operations will remain limited in scope for the foreseeable future.
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.
For this article, we selected AI stocks by combing through news articles, stock analysis, and press releases. These stocks are also popular among hedge funds. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).
A technician observing a complex fiber-optic networking set-up in a laboratory.
AI News You Should Not Ignore
15. Symbotic Inc. (NASDAQ:SYM)
Number of Hedge Fund Holders: 15
Symbotic Inc. (NASDAQ:SYM) is an automation technology company that engages in developing technologies to improve operating efficiencies in modern warehouses. The AI business focuses on automating supply chain and warehouse operations. On November 27, KeyBanc analyst Ken Newman downgraded the stock to Sector Weight from Overweight following the company’s announcement that it found additional accounting errors in its revenue recognition related to cost overruns. While the complete picture of the impact won’t be available until the 10-K is officially filed in the next two weeks, the advisory says it gets the sense that this restatement is purely an accounting issue and not indicative of a change in customer behavior or order activity.
