We recently compiled a list of the Top 8 Trending AI Stock Updates On Wall Street Today. In this article, we are going to take a look at where CenterPoint Energy, Inc. (NYSE:CNP) stands against the other AI stocks.
As the global AI race heats up with rapid developments in Asia, led by China, the UK government is attempting to strengthen its relationship with the US, with AI at the forefront of the transatlantic collaboration. The UK Prime Minister confirmed during a visit to the White House in February that the nations are working on a new economic plan focusing on advanced technologies.
Meanwhile, US Vice President J.D. Vance said on March 18th that freeing AI from regulation is beneficial for American workers and tech innovators.
“I think there’s too much fear that AI will simply replace jobs rather than augmenting so many of the things that we do now,” said Vance at the Andreessen Horowitz American Dynamism Summit in Washington, D.C.
Although he acknowledged that AI could lead to the displacement of jobs, the vice president highlighted that historical evidence shows that innovation helps create higher-paying jobs.
Elsewhere, OpenAI described DeepSeek as state-controlled in a new policy proposal. It urged the US government to consider banning models from the outfit, claiming potential security risks due to its possible connection with the People’s Republic of China (PRC). OpenAI had previously accused DeepSeek of “distilling” knowledge from OpenAI’s models in violation of its terms of service.
“We’re not advocating for restrictions on people using models like DeepSeek. What we’re proposing are changes to U.S. export rules that would allow additional countries to access U.S. compute on the condition that their datacenters don’t rely on PRC technology that present[s] security risks — instead of restricting their access to chips based on the assumption that they will divert technology to the PRC. The goal is more compute and more AI for more countries and more people.”
-said OpenAI spokesperson Liz Bourgeois.
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 Q4 2024 database of over 1000 hedge funds.
Why are we interested in 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 technician surveying a substation site, showing the large scale operations the company undertakes.
CenterPoint Energy, Inc. (NYSE:CNP)
Number of Hedge Fund Holders: 29
CenterPoint Energy, Inc. (NYSE:CNP) is an energy delivery firm that engages in electric transmission, distribution, power generation, as well as natural gas distribution operations, serving millions of customers in several US states.
On March 20th, Osmose, a provider of utility infrastructure asset assessment and restoration and AI-powered predictive modeling platform for utility, Neara, announced a partnership that will benefit CenterPoint Energy, Inc. (NYSE:CNP). The partnership will combine the companies’ expertise in field data collection and structural analysis, which would help CenterPoint Energy, Inc. (NYSE:CNP) strengthen power grids, assess risks better, and prioritize asset upgrades with better efficiency, reducing operational overheads and boosting ongoing asset restoration efforts. CenterPoint already uses Osmose and Neara’s tools to improve storm preparedness and maintain network reliability.
“At CenterPoint Energy, we are focused every day on building the most resilient coastal grid in the nation and increasing the resiliency of the communities we are privileged to serve. As we work to leverage technology to deliver better outcomes for our customers, we’re continuing to enhance our advanced modeling capabilities, which includes collaborating with cutting-edge technology providers like Neara and Osmose to leverage data from both site-specific field analysis and LiDAR-based modeling to optimize the accuracy of individual asset analysis as well as the efficiency of our whole system modeling.”
-said Eric Easton, VP of Grid Transformation at CenterPoint Energy Inc.
Overall, CNP ranks 7th on our list of trending AI stock updates on Wall Street today. While we acknowledge the potential of CNP as an investment, our conviction lies in the belief that 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 CNP but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None. This article is originally published at Insider Monkey.
