15 AI Stocks Taking Wall Street by Storm

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9. Autodesk, Inc. (NASDAQ:ADSK)

Number of Hedge Fund Holders: 55

Autodesk, Inc. (NASDAQ:ADSK), a multinational software corporation, leverages generative AI technology to drive innovation across the design, construction, manufacturing, and entertainment industries.

On November 26, Autodesk, Inc. (NASDAQ:ADSK) delivered strong third-quarter results beating estimates on the top and bottom lines. In Q3, revenue reached $1.57 billion, surpassing the estimated $1.56 billion, and the adjusted EPS was $2.17, exceeding the forecast of $2.12. The company anticipates full-year revenue of $6.12 billion to $6.13 billion versus estimates of $6.11 billion. Revenue from AutoCAD and AutoCAD LT grew by 8%, while AEC and manufacturing segments saw increases of 12% and 16%, respectively. The company incorporates AI into AutoCAD and AEC to optimize design processes, enhance automation, and improve efficiency.

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