5 Generative AI Stocks To Watch Amidst Copyright Concerns

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1. Alibaba Group Holding Limited (NYSE:BABA)

Number of Hedge Fund Holders: 128

Upside Potential: 57.20%

Average Analyst Price Target: $142.36

Fawne Jiang at Benchmark holds a Buy rating on Alibaba Group Holding Limited (NYSE:BABA) shares as of June 21, alongside a $180 price target.

Alibaba Group Holding Limited (NYSE:BABA) is another Chinese company that is trying to compete with ChatGPT, having released its own chatbot by the name of Tongyi Qianwen.

Our hedge fund data shows 128 funds long Alibaba Group Holding Limited (NYSE:BABA) during the first quarter, with a total stake value of $5.9 billion.

Baron Funds said the following about Alibaba Group Holding Limited (NYSE:BABA) in its first-quarter 2023 investor letter:

Alibaba Group Holding Limited (NYSE:BABA) is the largest retailer and e-commerce company in China. Alibaba operates shopping platforms Taobao and Tmall and owns 33% of Ant Group, which operates Alipay, China’s largest third-party online payment provider. Shares of Alibaba were up this quarter, given meaningful margin expansion, guidance to stabilize core commerce market share in China, and an announced plan to split the company into six units which could further unlock value. We retain conviction that Alibaba is well positioned to benefit from China’s reopening and the ongoing growth in online commerce and cloud in China.”

Follow Alibaba Group Holding Limited (NYSE:BABA)

See also 10 Best Artificial Intelligence Stocks Under $20 and 15 Best Artificial Intelligence (AI) Stocks to Buy.

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