15 Best European AI Stocks According to Morgan Stanley

4. RELX PLC (NYSE:RELX)

Number of Hedge Fund Holders: 17

RELX PLC (NYSE:RELX).provides information-based analytics and decision tools for professional and business customers. It operates from the United Kingdom. The firm, valued at over $85 billion, employs more than 11,000 technologists and spends about £1.3 billion a year on information technology services. In late July, the company reported half-year results, posting a revenue of over £4.6 billion with profit climbing to £1.5 billion. The results were accredited to the demand for analytics underpinned by AI. The company, confident in AI and overall demand, also said it had completed £700 million of a previously announced £1 billion share buyback.

Erik Engstrom, the CEO of RELX PLC (NYSE:RELX), said during the earnings call that his firm had delivered strong revenue and profit growth in the first half of 2024 on the back of an improving long-term growth trajectory. He noted that the growth was driven by the ongoing shift in business mix towards higher growth analytics and decision tools powered by AI.