20 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. Latest reports suggest that Meta will inform users in Brazil how it will use their personal data to train generative AI models. The move came after authorities in the South American country suspended the new privacy laws of Meta over the use of personal data to train generative AI models. The disclosures will enable Meta to continue to offer generative AI tools to users.

Meta Platforms, Inc. (NASDAQ:META) is one of the biggest firms in the world. The sheer scale of the firm is better understood by looking at daily active user numbers released by the company in the second quarter results. Meta hit 3.2 billion daily active users between March and June this year, with WhatsApp reaching 100 million monthly US users. The family of apps offered by the firm grew revenue by 22% annually in Q2 2024, driven by more than $38 billion in ad revenue.