30 Most Important AI Stocks According to BlackRock

5. 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. 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. Amazon has pledged more than $4 billion towards the AI startup over the past few months.

Amazon.com, Inc. (NASDAQ:AMZN) is viewed with bullish sentiment on Wall Street. Cantor Fitzgerald recently initiated coverage of the stock with an Overweight rating and $230 price target, citing retail margin expansion and AWS acceleration. The advisory said it saw a runway in both, but added that the magnitude was likely to moderate compared to trends over the past two years and the path was unlikely to be linear.