AI News Investors Probably Missed

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1. Amazon.com, Inc. (NASDAQ:AMZN)

Number of Hedge Fund Holders: 308   

Amazon.com, Inc. (NASDAQ:AMZN) operates as a technology conglomerate with core interests in the ecommerce business. The cloud division of the company, Amazon Web Services, recently announced a new collaboration with oilfield services firm SLB to bring key technologies from the Delfi digital platform of the latter to customers on AWS. This is not the first SLB deal with a major tech giant. The firm also disclosed a partnership with NVIDIA earlier this month to develop generative artificial intelligence solutions for the energy industry. Howard Gefen, the general manager of energy and utilities at AWS, has said that Amazon.com, Inc. (NASDAQ:AMZN) had been happy to expand the partnership with SLB to help the organization scale AI, data and cloud technologies.

While we acknowledge the potential of Amazon.com, Inc. (NASDAQ:AMZN) 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 timeframe. If you are looking for an AI stock that is more promising than Amazon.com, Inc. (NASDAQ:AMZN) but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: $30 Trillion Opportunity: 15 Best Humanoid Robot Stocks to Buy According to Morgan Stanley and Jim Cramer Says NVIDIA ‘Has Become A Wasteland’.

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