AI News Investors Should Not Miss

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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. Earlier this week, the regulatory authorities in Britain cleared the partnership that the tech giant had made with AI startup Anthropic back in March. Under the partnership, Amazon.com, Inc. (NASDAQ:AMZN) had agreed to invest over $4 billion into the company in the coming months.

The British regulator said the partnership did not qualify for investigation under merger rules. Anthropic, which was co-founded by former OpenAI executives and siblings Dario and Daniela Amodei, has received billions of dollars in investments from several tech giants, including Amazon rival Google. The startup is preparing to raise fresh funding at a valuation of around $40 billion.

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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