9 Must-See AI News Updates That Are Trending on Wall Street

8. MicroStrategy Incorporated (NASDAQ:MSTR)

Number of Hedge Fund Holders: 25

Strategy, formerly known as MicroStrategy Incorporated (NASDAQ:MSTR), offers AI-powered enterprise analytics software and services. It is the largest corporate holder of Bitcoin and the world’s first Bitcoin Treasury Company. On February 6th, Maxim raised the firm’s price target on the stock to $500 from $480 and kept a “Buy” rating on the shares. The rating has been issued following the company’s rebranding to the name “Strategy”. According to the company, the name change reflects Bitcoin and AI as the two transformative technologies of the industry. The firm expects Strategy to keep buying Bitcoin through market activities. Recently, it raised $584 million in a convertible preferred stock offering, which should begin trading on February 6. The price target raise reflects the estimated value of Strategy’s bitcoin holdings over the next 12 months plus the value of the core software business.