35 Non-Tech AI Opportunities Amid DeepSeek Selloff

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15. CarMax, Inc. (NYSE:KMX)

Number of Hedge Fund Holders: 44

CarMax, Inc. (NYSE:KMX) operates as a retailer of used vehicles and related products in the United States. This company stands out as a rewarding investment for several reasons. The most influential factor is the company’s strong performance in its retail and wholesale segments. As per the report for the third quarter of 2024, retail used unit sales increased by 5.4%, and comparable store used unit sales increased by 4.3%; wholesale units increased by 6.3%. Moreover, the total gross profit of $677.6 million increased by 10.6%, driven by unit volumes and strong unit margin performance. In addition, CarMax has become a Founding Partner of the team and the official used car retailer of the Valkyries. This partnership with the Golden State Valkyries will be rooted in community impact, with a dedicated focus on Bay Area youth, and will bring fans closer to the team through exclusive behind-the-scenes content and special access moments throughout the year. Lastly, the company has integrated Microsoft Azure OpenAI Service into business as well.

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