5 Biggest AI Companies In The World

1. Apple Inc. (NASDAQ:AAPL)

Market Capitalization: $2 Trillion     

Apple Inc. (NASDAQ:AAPL) designs, manufactures and markets smartphones, personal computers, tablets, wearables, and accessories. On December 6, Apple said that it has released a set of optimizations which allow the Stable Diffusion AI, a latent open-source AI text-to-image diffusion model that produces photorealistic images from any given input prompt in a matter of seconds, to be used on Apple Silicon.

Apple is a dominating technology sector with its iPhone-enabled AI features and apps. The release of iPhone models over time confirms that Apple uses Artificial Intelligence in iPhones and visions AI as the key factor for its tech supremacy. Apple launched Siri in 2011 when the concept of a virtual assistant on a smartphone was barely known, making it the first widely used AI and NLP-powered assistant. Microsoft and Google introduced Cortana after three years of the launch of Siri. Siri is an assistant which makes it easier for users to make calls, send texts, search, use apps and get things done with just the command of voice. 

On November 7, BofA analyst Wamsi Mohan maintained a Neutral rating on Apple Inc. (NASDAQ:AAPL) stock and lowered the price target to $154 from $160, noting that the company issued a press release indicating that COVID-19 restrictions have impacted the primary iPhone 14 Pro and Pro Max assembly facility in China and warned that it now expects lower shipments of these models in the December quarter than previously anticipated.

At the end of the third quarter of 2022, 140 hedge funds in the database of Insider Monkey held stakes worth $144 billion in Apple Inc. (NASDAQ:AAPL), compared to 128 in the previous quarter worth $143 billion.

In its Q2 2022 investor letter, Alger Capital, an asset management firm, highlighted a few stocks and Apple Inc. (NASDAQ:AAPL) was one of them. Here is what the fund said:

“Apple Inc. (NASDAQ:AAPL) is a leading technology provider in telecommunications. computing and services. Apple’s iOS operating system is the company’s unique intellectual property and competitive strength. This software drives extremely tight engagement with consumers and enterprises. The engagement is fostering the growing purchase of high-margin services like music, apps, and apple pay. Apple’s shares detracted from performance as management lowered its guidance for the second quarter due to headwinds from the war in Ukraine, adverse foreign currency shifts, and dampened consumer demand associated with the coronavirus in China. Additionally, many investors were concerned that lockdowns implemented to curtail the spread of COVID-19 would impact the production of apple products, however, the manufacturing facilities have resumed activity.”

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