8 Best Socially Responsible Stocks to Buy According to Hedge Funds

2. Alphabet Inc. (NASDAQ:GOOGL)

Number of Hedge Fund Investors: 202

Alphabet Inc. (NASDAQ:GOOGL), the parent company of Google, is a global technology conglomerate that encompasses a diverse range of innovative businesses. The company is known for its pioneering work in search, advertising, cloud computing, and artificial intelligence (AI). Alphabet Inc.’s (NASDAQ:GOOGL) investments in renewable energy projects and eco-conscious data centers position it as a leader in environmental sustainability within the tech sector.

Alphabet Inc. (NASDAQ:GOOGL) is uniquely positioned to lead in the era of AI due to its robust infrastructure, world-class research teams, and broad global reach. The company is investing heavily in state-of-the-art data centers, advanced AI chips, and a global fiber network to support its AI efforts. Notable initiatives include the development of the sixth-generation Trillium TPUs, which offer significant performance improvements and cost efficiencies. Alphabet Inc. (NASDAQ:GOOGL) is also making clean energy investments, including the world’s first corporate agreement to purchase nuclear energy from multiple small modular reactors, which will provide up to 500 megawatts of carbon-free power.

Alphabet Inc. (NASDAQ:GOOGL) is continuously innovating to enhance user experiences and drive engagement across its platforms. In search, recent advancements such as AI Overviews, Circle to Search, and new features in Lens are transforming how users interact with information. AI Overviews, now available in over 100 countries, have reached more than 1 billion users and are increasing overall search usage and user satisfaction. Circle to Search, available on over 150 million Android devices, is being used for shopping, translation, and learning, with a third of users engaging weekly. Additionally, Lens is handling over 20 billion visual searches per month, making it one of the fastest-growing query types on search. These features are not only enhancing user experiences but also creating new opportunities for advertisers to connect with consumers.