17 Trending AI Stocks on Latest Analyst Ratings and News

4. Meta Platforms, Inc. (NASDAQ:META)

Number of Hedge Fund Holders: 219

Meta Platforms, Inc. (NASDAQ:META) engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. A few weeks after announcing that spending on AI and related tech would inch higher in the coming months, the company has revealed plans to shut down an augmented reality (AR) studio to focus investments in other areas. In a recent post, the firm said that the decision is part of a plan to shift resources to the next generation of experiences, across new form factors like glasses.

Earlier this week, Meta Platforms, Inc. (NASDAQ:META) announced that it had signed a deal with Sage Geosystems to receive geothermal energy to support AI data centers in the US. The first phase of this project is expected to be online and operating in 2027. The firm has committed to investing in sustainable energy as the demand for power rises across the US. Meta has contracted over 12,000 MW in renewable energy projects over the past few years.