20 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) operates as a technology conglomerate with core interests in the ecommerce business. Anthropic, the generative artificial intelligence company that is backed by Amazon, recently announced that it would be launching a version of Claude geared towards large businesses. Claude is an array of large language models developed by Anthropic. The move comes after OpenAI, a rival of Anthropic, launched ChatGPT for Enterprise in August. Both companies offer monthly subscriptions to their AI tools. TechCrunch reports that the subscription for Claude would cost more than $30 per month. Amazon.com, Inc. (NASDAQ:AMZN) has already pledged more than $4 billion towards the AI startup.

Citi recently reiterated a Buy rating on Amazon.com, Inc. (NASDAQ:AMZN) with a $245 price target. Analysts at the advisory issued an investor note following a third party seller event named Amazon Accelerate. The note detailed that the advisory was incrementally confident that Amazon’s core retail segment would continue to gain greater wallet share as fulfillment efficiencies lowered overall cost to serve. With faster shipping speeds, the rise in essentials, and improving conversion rates, Amazon’s core retail business would deliver continued share gains and expanding margins as Web Services demand accelerated, the note underlined.

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