8 Best European Stocks To Buy According to Hedge Funds

4. Accenture plc (NYSE:ACN)  

Number of Hedge Fund Investors: 68  

Accenture plc (NYSE:ACN) is a global consulting and professional services company, headquartered in Ireland. The company specializes in digital, cloud, and security services, helping businesses transform their operations through technology. Accenture plc (NYSE:ACN) serves clients across a range of industries, including finance, healthcare, and energy. The company is known for its innovation in artificial intelligence, automation, and data analytics.

On October 2, 2024, Accenture plc (NYSE:ACN) announced an expanded partnership with NVIDIA aimed at accelerating AI adoption across enterprises worldwide. As part of this initiative, Accenture plc (NYSE:ACN) has formed a new NVIDIA Business Group dedicated to helping clients leverage AI technologies at scale. This development comes in response to the growing demand for generative AI, which contributed $3 billion in bookings for Accenture in its recently concluded fiscal year.

Moreover, Accenture AI Refinery is designed to help businesses implement advanced AI solutions. This platform utilizes the full suite of NVIDIA’s AI tools, including NVIDIA AI Foundry, NVIDIA AI Enterprise, and NVIDIA Omniverse. These technologies will enable businesses to drive innovations in areas such as process reinvention, AI-powered simulations, and sovereign AI, helping them unlock new efficiencies and capabilities.

The Accenture AI Refinery is available on both public and private cloud platforms. It will also integrate with other Accenture Business Groups, allowing for seamless collaboration and further accelerating the adoption of AI across software-as-a-service (SaaS) and cloud AI ecosystems.

Accenture plc’s (NYSE:ACN) growth is driven by several key factors, including its early leadership in artificial intelligence, its global workforce of over 770,000 employees, and its strong brand and reputation in the consulting industry. The company’s ability to deploy its AI tools to clients across the globe is a key differentiator, and its diversified revenue streams provide a strong foundation for growth.