33 Most Important AI Companies You Should Pay Attention To

28. Amazon.com, Inc. (NASDAQ:AMZN)

Number of Hedge Fund Holders: 302 

YTD Return as of August 1: 30%    

Amazon.com, Inc. (NASDAQ:AMZN) operates as a technology conglomerate with core interests in the ecommerce business. Contrary to public opinion, the company is investing heavily in incorporating AI into the tools it already markets, in line with efforts of competitors like Google and Microsoft. AI tools can improve the user experience on software offerings of these firms, enabling instant responses and pictorial representations of complex queries and prompts. In mid-July, the company announced that it would be adding more memory to so-called virtual agents that automate work for businesses. This would allow users to build on new requests with AI-enabled processing of prior ones.

Andrew Jassy, the CEO of Amazon.com, Inc. (NASDAQ:AMZN), said during the second quarter earnings call that the firm had invested in custom silicon in Trainium for training and Inferentia for inference. The firm has an eye on generative AI as it develops these chips. He added that the second versions of those chips with Trainium coming later this year were very compelling on price performance.