18 Trending AI Stocks on Latest Analyst Ratings and News

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3. Amazon.com, Inc. (NASDAQ:AMZN)

Number of Hedge Fund Holders: 308    

Amazon.com, Inc. (NASDAQ:AMZN) engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally. Latest reports reveal that the US government has signed a deal with Anthropic, a US-based AI startup backed by Amazon, for research, testing and evaluation of their artificial intelligence model. Under the terms of the deal, an institute associated with the government would receive access to the AI model before and after the public release. Anthropic is one of the leading developers of a large language model (LLM), the cutting edge tech that forms the basis for the popularity of ChatGPT by OpenAI.

Amazon.com, Inc. (NASDAQ:AMZN) is one of the most followed stocks on Wall Street. Wells Fargo has an Overweight rating on the shares with a price target of $225. In a recent investor note, the advisory underlined that heavy upfront costs related to satellite launches, commencing in the second half of 2024, would reduce operating income forecasts for Amazon from 2025 through 2027, even as the launches present an attractive longer term opportunity.

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