35 Non-Tech AI Opportunities Amid DeepSeek Selloff

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29. Hawaiian Electric Industries, Inc. (NYSE:HE)

Number of Hedge Fund Holders: 32   

Hawaiian Electric Industries, Inc. (NYSE:HE) engages in the electric utility businesses in the United States. There are various reasons that make this company a rewarding investment opportunity. The most compelling factor is its financial performance illustrated in the report for the third quarter of 2024. As per the report, total insurance recoveries and deferrals related to wildfire-related expenses provided a benefit of $27.4 million. Excluding these items, core net income was $52.2 million for the third quarter of 2024 compared to $61.5 million in the third quarter of 2023. This reflects the company’s resilience in managing unexpected expenses. Moreover, the company has designed a new three-year plan for wildfire prevention and resilience, including the deployment of new weather stations and AI-enabled cameras and the undergrounding of overhead power lines. The utility plans to deploy new technology, fortify infrastructure, minimize fire hazards, and expand community partnerships in an effort to reduce the risk of a wildfire started by its equipment, per actions detailed in a new Wildfire Safety Strategy.

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