5 Best Artificial Intelligence Stocks to Buy for 2021

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1. Facebook, Inc. (NASDAQ: FB)

Number of Hedge Fund Holders: 242

Facebook (NASDAQ: FB) is a California-based multinational technology firm that is famous for social media networks Facebook, Instagram, and messaging service WhatsApp. It also has stakes in other businesses and is one of the largest companies in the world. Facebook has an artificial intelligence initiative named Facebook AI that is working on the use of AI in image searches, cloud storage systems, data analytics, virtual reality, and other projects. Researchers at the company hope to develop human-level systems using AI breakthroughs. 

The company has a market cap of more than $880 billion and posted nearly $90 billion in revenue in December 2020. Facebook stock has been steadily gaining since the start of the year on the back of increased digital advertising revenue. The firm has increased ad prices by 30% since March. Research firm eMarketer expects that Facebook ad revenue will cross $42.6B this year. The company is ranked first on our list of top 10 artificial intelligence stocks for 2021. 

With a $3.3 billion stake in FB, SB Management owns 12 million shares of the company as of the end of the fourth quarter of 2020. Our database shows that 242 hedge funds held stakes in Facebook as of the end of the fourth quarter, versus 230 funds in the third quarter. Our calculations show that, FB ranks 3rd in our list of the 30 Most Popular Stocks Among Hedge Funds: 2020 Q4 Rankings.

You can also take a peek at Top 10 High Growth Stocks To Buy in 2021 and Unknown Billionaire Phill Gross’ Top 10 Stock Picks.

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