20 AI News and Analyst Ratings You Should Not Miss

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1. NVIDIA Corporation (NASDAQ:NVDA

Number of Hedge Fund Holders: 179 

NVIDIA Corporation (NASDAQ:NVDA) provides graphics, computing and networking solutions. Latest reports indicate that the chip firm has entered into a partnership with United Arab Emirates-based AI company G42 to advance climate technology. The partnership will focus on developing AI solutions aimed at boosting accuracy of weather forecasting globally. Under the deal, per the two firms, a new operational base would be established, along with a Climate Tech Lab in Abu Dhabi, which would serve as a hub for research and development. This facility would also mobilize the creation of tailored climate and weather solutions which use over 100 petabytes of geophysical data assets.

William Blair analyst Sebastien Naji recently initiated coverage of NVIDIA Corporation (NASDAQ:NVDA) stock with an Outperform rating. In a research note, the analyst noted that Nvidia had a long and storied history of designing parallel computing systems to handle complex processing tasks, which historically had positioned the chip firm as a leader in niche markets like gaming, automotive, visualization, and high-performance computing, or HPC. However, per Naji, the rising AI tide had catapulted parallel computing to the forefront of the tech industry and had driven massive demand for the company’s GPUs and parallel computing stack.

While we acknowledge the potential of NVIDIA Corporation (NASDAQ:NVDA) 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 NVIDIA Corporation (NASDAQ:NVDA) but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: $30 Trillion Opportunity: 15 Best Humanoid Robot Stocks to Buy According to Morgan Stanley and Jim Cramer Says NVIDIA ‘Has Become A Wasteland’.

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