30 Most Important AI Stocks According to BlackRock

4. Microsoft Corporation (NASDAQ:MSFT)

Number of Hedge Fund Holders: 279

Microsoft Corporation (NASDAQ:MSFT) is a Washington-based technology company. Latest reports indicate that OpenAI, the generative artificial intelligence startup backed by Microsoft,  has crossed the 1 million paid users barrier in the ChatGPT for business section. OpenAI launched ChatGPT in late 2022 to kickstart the AI boom. The tech giant has invested more than $10 billion in the AI startup already, and is potentially considering another large investment, along with Apple and NVIDIA, as the valuation of the startup touches close to $100 billion. OpenAI is considering higher-priced subscriptions to ChatGPT, perhaps $2,000 per month, as it launches new models like Strawberry and Orion.

Microsoft Corporation (NASDAQ:MSFT) was recently added to the Signature Picks list of investment advisory Wells Fargo. The advisory has an Overweight rating on the shares with a $515 price target. In an investor note, the advisory detailed that Microsoft was a leader and share gainer in cloud infrastructure and was positioned to benefit from a significant artificial intelligence-enabled product cycle forming. It added that there was a favorable setup ahead for the tech giant, as incremental server supply coming online would drive an Azure growth reacceleration in the second half of 2024.