33 Most Important AI Companies You Should Pay Attention To

22. Meta Platforms, Inc. (NASDAQ:META)

Number of Hedge Fund Holders: 246

YTD Return as of August 1: 44%

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. The firm has been aggressively marketing several AI products, including Meta AI, a virtual assistant powered with AI, as well as smart devices, like Meta Smart Glasses and Meta Quest, that use AI to provide computational power to individual users at their fingertips. The firm is also investing heavily in developing AI data centers that will serve individual customers and businesses with their AI needs on Meta devices across the world.

Mark Zuckerberg, the CEO of Meta Platforms, Inc. (NASDAQ:META), addressed the advertising market during the second quarter earnings call, as his company derives a significant portion of revenue from advertisements that run on the platforms it owns. He noted that AI was going to drive a change in advertising markets in the coming years, as even the creatives needed for marketing shifted towards AI assistants.