AI News Investors Probably Missed

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12. EPAM Systems, Inc. (NYSE:EPAM)

Number of Hedge Fund Holders: 37  

EPAM Systems, Inc. (NYSE:EPAM) provides digital platform engineering and software development services worldwide. As the AI boom forces businesses to digitize operations, EPAM has benefited from the rise in demand for custom AI applications, helping firms by providing product development in this regard. In the second quarter, this translated to a revenue of $1.15 billion, beating estimates of $1.14 billion. EPAM Systems, Inc. (NYSE:EPAM) also posted adjusted profit of $2.45 per share, compared with analyst estimates of $2.26 apiece. EPAM offers consulting, cybersecurity, software engineering and product development services. As global IT spend rises to above $5 trillion, EPAM is in pole position to capitalize on the emerging trends in AI.

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