5 Best Big Data Stocks To Buy Now

1. Microsoft Corporation (NASDAQ:MSFT)

Number of Hedge Fund Holders: 300

Value of Hedge Fund Holdings: $69,788,476,000

Market Capitalization as of September 25, 2023: $2.36 trillion

Microsoft Corporation (NASDAQ:MSFT) is betting on Big Data analytics through Azure Synapse Analytics, which provides a cloud data warehouse for enterprise BI and analytics on massive datasets. It offers query acceleration using dedicated SQL pools. Meanwhile, Power BI is another tool provided by Microsoft Corporation (NASDAQ:MSFT) that offers interactive data visualizations and business intelligence on big datasets.

Here’s what Harding Loevner said about Microsoft Corporation (NASDAQ:MSFT) in its Q2 2023 investor letter:

“Most notably, Microsoft Corporation (NASDAQ:MSFT) was able to gain an immediate leadership position in generative Al by making a US$10 billion investment in OpenAI, the company behind ChatGPT, earlier this year. Microsoft’s Bing search engine has since introduced ChatGPT into its web index data-a collection so large that it is rivaled by the dataset of only one other business in the world, Alphabet’s Google. Data are the feedstock of Al models, and an Al-enhanced search engine trained on so much data may attract more users to Bing, allowing Microsoft to sell more ads on the service. Microsoft is also adding generative Al to other products, including the Azure cloud service, enabling business customers who use Azure to easily integrate OpenAl models to glean more insights from their data and automate functions such as certain IT tasks. These added capabilities should motivate more businesses to migrate their data to the cloud and make Azure more competitive with Amazon.com’s AWS and Google Cloud.”

Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily enewsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below. You can also check out 10 Best Beverage Stocks with Dividends and 20 Easiest Jobs That Pay $100K.