5 AI Stocks Billionaires are Loading Up On

4. Salesforce.com, inc. (NYSE:CRM)

Number of Billionaire Investors: 26

Salesforce.com, inc. (NYSE:CRM) has literally launched a barrage of AI products. Earlier this year it launched Einstein GPT, an AI tool for Salesforce.com, inc. (NYSE:CRM). Salesforce.com, inc. (NYSE:CRM) recently revealed MarketingGPT and CommerceGPT to cover more business areas. It has also launched Slack GPT and Tableau GPT to launch AI in communications platforms.

As of the end of the first quarter of 2023, 26 hedge funds tracked by Insider Monkey had stakes in Salesforce.com, inc. (NYSE:CRM). Some notable billionaires having stakes in Salesforce.com, inc. (NYSE:CRM) include Thomas Steyer, Stephen Mandel, Steve Cohen, among others.

Harding Loevner Global Equity Strategy made the following comment about Salesforce, Inc. (NYSE:CRM) in its Q1 2023 investor letter:

“It also signaled lower capital expenditures and increased share repurchases. Other tech companies, including Salesforce, Inc. (NYSE:CRM), similarly benefited from plans to lower costs and increase profitability. Meanwhile, NVIDIA, the graphic-chips designer, surged amid investor enthusiasm over the potential commercial applications of artificial-intelligence technologies, such as ChatGPT, which requires the use of many chips.”