We recently published a list of 10 Tech News Updates Investors Should Not Miss. In this article, we are going to take a look at where Agora Inc. (NASDAQ:API) stands against other tech news updates investors should not miss.
On March 6th, CoreWeave, an Nvidia-backed cloud-computing startup, denied claims in a Financial Times report that Microsoft had pulled the plug in some of the agreements it had signed with the cloud provider due to service delivery challenges and missed deadlines.
“We pride ourselves in our client partnerships and there have been no contract cancellations or walking away from commitments. Any claim to the contrary is false and misleading,” a CoreWeave spokesperson told Reuters in an emailed statement.
The news follows after Stack Capital Group made an investment of $10 million in the AI-infrastructure company, according to a company release on March 5th.
“Given its growing data center presence across the United States, Europe, and Canada, CoreWeave is extremely well-positioned to continue capitalizing on accelerating global demand for AI infrastructure and compute capabilities,” said Jeff Parks, CEO of Stack Capital.
According to a Reuters report on March 7th, the Azure parent has begun testing out models from xAI, Meta and DeepSeek to develop AI models to compete with OpenAI.
For this article, we selected AI stocks by going through news articles, stock analysis, and press releases. These stocks are also popular among hedge funds, as of Q4 2024.
At Insider Monkey we are obsessed with the stocks that hedge funds pile into. The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
A customer using the Video Calling services, to connect with a loved one.
Agora Inc. (NASDAQ:API)
Number of Hedge Fund Holders: 11
Agora Inc. (NASDAQ:API) provides developers with APIs to embed real-time voice, video, interactive streaming, chat, and AI capabilities into their applications. On March 5th, the company launched a conversational AI Engine which enables developers to create interactive voice experiences compatible with any AI model. With a seamless real-time engagement, the engine provides ultra-low latency responses and greater voice processing to produce immersive voice AI experiences.
“Most AI models don’t yet offer the ability to interact via voice, and those that do haven’t optimized the experience,” said Tony Zhao, CEO of Agora.
The company is also looking to extend Conversational AI Engine’s features into its App Builder product. The new offering has a wide range of uses such as customer support, IoT integration, virtual shopping assistance, mental health support and live tutoring.
Overall, API ranks 9th on our list of tech news updates investors should not miss. While we acknowledge the potential of API as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than API but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.
