As the global AI race heats up, the Trump Administration’s downsizing of federal agencies poses a risk to AI development in the US. His cost-cutting measures are already impacting AI research efforts. Yesterday, a key federal AI research agency witnessed layoffs and faced potential budget cuts. Several US National Science Foundation employees, with expertise in AI, were terminated, threatening the agency’s ability to sustain AI research.
The government’s latest move also affected the Directorate for Technology, Innovation, and Partnerships within the National Science Foundation. The department played a key role in funneling government grants related to AI. Industry experts heavily criticized the downsizing.
Meanwhile, Chinese buyers are circumventing US export curbs to acquire the latest AI chips from top US manufacturers, exacerbating Trump’s challenges in cutting off the transfer of American technology to China. Washington imposed export controls in 2022 to curb China’s access to semiconductors for training AI models, but underground brokers are still managing to bypass the controls.
“China will help bridge the technological divide and prevent technological innovation from becoming a game for the rich countries and the wealthy,” said Chinese politician and computer scientist, Lou Qinjian, at the start of the annual National People’s Congress.
We selected AI stocks by reviewing news articles, stock analysis, and press releases. We listed the stocks in ascending order of their hedge fund sentiment taken from Insider Monkey’s database of over 1000 hedge funds.
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9. Surf Air Mobility Inc. (NYSE:SRFM)
Number of Hedge Fund Holders: 1
Surf Air Mobility Inc. (NYSE:SRFM) is known for its leading regional air mobility platform. Its offerings include software and charter flight operator services, as well as the development of electric and hybrid powertrains for aircraft. The company is focusing on enhancing its AI-powered airline software operating system and working toward certification of electric powertrain technology for better safety, efficiency, and profitability.
On March 4th, Surf Air Mobility Inc. (NYSE:SRFM) announced agreements with six air operator beta customers to use its AI-powered software platform SurfOS, developed by AI leader Palantir Technologies (NASDAQ:PLTR). The launch customers will use SurfOS to improve charter flight distributions, flight pricing, and customer relationship management.
“We believe that SurfOS will be the category-defining technology platform for the advanced air mobility industry. We are creating an operating system that is addressing the needs of aircraft operators, brokers, and owners, all of whom have a real need for modern aviation software enhanced with AI and big data. Individually, those industry participants could not affordably develop this broad suite of customized applications or organize their data onto a single platform. Given that we work with over 400 air operators through our On Demand platform, we are well positioned to bring SurfOS to market at scale.”
-said Sudhin Shahani, co-founder of Surf Air Mobility Inc.
8. Primech Holdings Ltd. (NASDAQ:PMEC)
Number of Hedge Fund Holders: 1
Primech Holdings Ltd. (NASDAQ:PMEC) offers technology-based intelligent products and solutions for use in the cleaning and maintenance of public and private facilities.
On March 4th, the company’s subsidiary, Primech AI Pte. Ltd., announced the launch of its innovative Robotics as a Service (RaaS) business line, which uses proprietary AI-driven technology to address industry problems like labor shortages, hygiene standards, and operational overheads. Primech AI signed a two-year Memorandum of Understanding with CCG Property Services, a subsidiary of Hong Kong’s property developer Chinachem Group, to deploy its AI-powered automated cleaning robot HYTRON in select facilities managed by CCG Property Services.
“Beyond advancing automation in the traditional cleaning industry, this deployment marks a significant milestone for Primech Holdings Limited. It demonstrates our ability to expand internationally and provide cutting-edge cleaning solutions across borders. By working with esteemed partners like Chinachem Group and CCG Property Services, we are proving that our technology is not only effective but also scalable on a global level. This is just the beginning of our vision to redefine commercial cleaning through AI and robotics. This initiative underscores Primech Holdings’ commitment to transforming the cleaning industry through advanced technology while expanding its global footprint beyond its traditional Singapore base.”
-said Kin Wai Ho, CEO of Primech Holdings Ltd.