15 Trending AI Stocks on Latest News and Ratings

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4. Alibaba Group Holding Limited (NYSE:BABA)

Market Capitalization: $211.97 billion

Alibaba Group Holding Limited (NYSE:BABA) is a Chinese multinational conglomerate operating across e-commerce, cloud computing, digital media, and financial technology (“fintech”).  The company leverages artificial intelligence in its e-commerce business, having recently launched more than a hundred new AI models as part of its AI push.

On November 15, Alibaba Group Holding Limited (NYSE:BABA) reported better-than-expected quarterly earnings of $2.15 a share for the quarter ending September 30. However, total revenue fell short of expectations. According to FactSet, the company reported adjusted earnings of 15.06 yuan ($2.15) per American-listed share, with sales totaling 236.5 billion yuan ($33.7 billion). Wall Street analysts had forecast adjusted earnings of 14.82 yuan per share on revenues of 239.5 billion yuan. Alibaba’s falling sales imply businesses in China are facing challenges as customers remain cautious with their spending. Amidst these results, an AI boost to the company’s cloud business serves as positive news for the company. Alibaba’s cloud business saw a 7% increase in revenues, reaching 29.6 billion yuan ($4.2 billion) in the fiscal second quarter, compared to the same quarter last year.

“Growth in our Cloud business accelerated from prior quarters, with revenues from public cloud products growing in double digits and AI-related product revenue delivering triple-digit growth”.

– CEO Eddie Wu.

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