5 Biggest AI Companies In The World

3. Amazon.com, Inc. (NASDAQ:AMZN)

Market Capitalization: $937 Billion  

Amazon.com, Inc. (NASDAQ:AMZN) engages in the retail sale of consumer products and subscriptions in North America and internationally. On November 30, Amazon reported that its AWS Machine learning University is providing a free educator enablement program. This program provides faculty at community colleges and minority-serving institutions with the skills and resources to teach artificial intelligence, machine learning, and data analytics concepts to build a pipeline for in-demand jobs for now and the future.

On November 30, Amazon.com Inc revealed that it is planning to roll out warning cards for software sold by its cloud-computing division, in light of ongoing concern that artificially intelligent systems can discriminate against different groups. On November 11, Amazon announced its latest warehouse robot. Amazon claims that Sparrow is the first robotic system in warehouses that can detect, select, and handle individual products in the inventory. The robotic arm uses AI and computer vision to recognize and handle millions of items. The company said that using AI-based robots can conduct more operations safely and efficiently.

On December 1, Cowen analyst John Blackledge maintained an Outperform rating on Amazon.com, Inc. (NASDAQ:AMZN) stock and raised the price target to $160 from $150, noting that lower operating losses are expected excluding AWS and Advertising in 223 as cost headwinds subside.   

At the end of the second quarter of 2022, 252 hedge funds in the database of Insider Monkey held stakes worth $30 billion in Amazon.com, Inc. (NASDAQ:AMZN), compared to 271 in the preceding quarter worth $48 billion.

In its Q2 2022 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and Amazon.com, Inc. (NASDAQ:AMZN) was one of them. Here is what the fund said:

“Amazon.com, Inc. (NASDAQ:AMZN) is the world’s largest retailer and cloud services, provider. Shares of Amazon declined 35% in the quarter due to weaker-than-expected profits resulting from the overcapacity of resources coming out of COVID. We expect Amazon to grow its retail capacity in the coming quarters, enabling it to improve profitability accordingly. Amazon remains one of our largest holdings due to its durable competitive advantages with a leading position in multiple trillion-dollar markets with a long runway for growth (…read more)