15 Trending AI Stocks on Latest Analyst Ratings and News

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1. Amazon.com Inc (NASDAQ:AMZN)

Number of Hedge Fund Holders: 308

Amazon.com Inc (NASDAQ:AMZN) is one of the largest online retailers and technology providers offering e-commerce, cloud computing, and services such as digital streaming and artificial intelligence solutions.

On Friday, November 1, U.S. energy regulators rejected a request to increase the amount of power the Susquehanna nuclear plant in Pennsylvania can dispatch to an Amazon data center campus. As technology companies continue to push for directly powering artificial intelligence with nuclear plants, this news serves to be a major roadblock. Back in March, independent power producer Talen Energy sold the data center campus to Amazon for $650 million, which would be powered by the nuclear plant.

According to the Members of the Federal Energy Regulatory Commission, the agreement for increasing the capacity of the data center located on the site of Talen Energy’s Susquehanna nuclear-generating facility could raise power bills for the public and affect the grid’s reliability.

“Co-location arrangements of the type presented here present an array of complicated, nuanced and multifaceted issues, which collectively could have huge ramifications for both grid reliability and consumer costs”.

-FERC Commissioner Mark Christie

In a statement on Monday, November 4, Talen said FERC’s decision will have a “chilling effect on economic development in states such as Pennsylvania, Ohio, and New Jersey. The power company said it is evaluating its options with a “focus on commercial solutions.”

While we acknowledge the potential of AMZN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than AMZN but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock.

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