15 Trending AI Stocks on Latest Analyst Ratings and News

5. Alphabet Inc. (NASDAQ:GOOG)

Number of Hedge Fund Holders: 165

Alphabet Inc. (NASDAQ:GOOG) is a California-based technology company that owns and runs the internet search engine Google. Latest reports suggest that the company has signed an agreement with authorities in Australia to develop novel AI-powered tools for automated vulnerability scanners and data protocols which can quickly identify and assess the impact of open source vulnerabilities on the software supply chains of Australian critical infrastructure operators. Under the deal, Google Cloud will provide infrastructure and solutions, including machine learning and Big Data capabilities, plus domain specific large language models, to accelerate research and translate it into tools or as-a-service offerings. Alphabet plans to spend more than $670 million in Australia till 2026.

As media reports indicate that the Department of Justice in the US might pursue a breakup of Alphabet Inc. (NASDAQ:GOOG), prominent Wall Street analyst Daniel Ives, who works at Wedbush, has said that such a development would be a stretch with Google likely to appeal the rulings which might be in the court system for years. He said investors should not expect any disruption to the near-term operations of the firm. However, he cautioned that the business model tweaks and heavier scrutiny of mergers and acquisitions will be front and center for big tech in the coming months.