In this article, we discuss the 15 trending AI stocks on latest ratings and news.
Latest reports indicate that billionaire Masayoshi Son, the founder of Japanese multinational tech firm Softbank, is set to meet Indian Prime Minister Narendra Modi. Per news agency Reuters, the meeting comes as Son eyes more artificial intelligence and technology bets in the third-largest economy in Asia. Reuters further claims that Son already met Mukesh Ambani – the richest man in the South Asian country and the chief of prominent conglomerate Reliance Industries. According to sources quoted by Reuters, the duo discussed potential artificial intelligence opportunities in India. CNBC had earlier reported that Softbank is also exploring an additional $1.5 billion investment in AI startup OpenAI.
Read more about these developments by accessing 10 Best AI Data Center Stocks and 10 Buzzing AI Stocks According to Goldman Sachs.
Meanwhile, another billionaire on the other side of the world is mulling further investments in AI as well. Per a report by news publication The Wall Street Journal, xAI, the AI startup of billionaire Elon Musk, is considering the release of a standalone consumer application that follows the success of ChatGPT by OpenAI. The xAI application would be powered by the Grok bot that the startup is marketing. The app will likely arrive after xAI closes its next funding round, which could reach $5 billion and value the company at $50 billion, per the Financial Times. If successful in raising this amount, xAI would take total raised funding to $11 billion.
Read more about these developments by accessing 30 Most Important AI Stocks According to BlackRock and Beyond the Tech Giants: 35 Non-Tech AI Opportunities.
For this article, we selected AI stocks by combing through news articles, stock analysis, and press releases. These stocks are also popular among hedge funds. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).
A data center filled with the latest servers and networking equipment representing the company’s cutting edge security infrastructure.
Trending AI Stocks on Latest Ratings and News
15. Semtech Corporation (NASDAQ:SMTC)
Number of Hedge Fund Holders: 32
Semtech Corporation (NASDAQ:SMTC) develops, manufactures, and markets analog and mixed-signal semiconductor and advanced algorithms. On November 26, Roth MKM analyst Scott Searle raised the price target on the stock to $70 from $60 and kept a Buy rating on the shares. Semtech reported a modest beat for Q3, with a healthy guide up for Q4, but the headline number is Data Center, which was up 58% sequentially, driven by a continued recovery and early contribution from its ACC solution, the analyst told investors in a research note.
