We recently compiled a list of the Top 8 AI News Updates Investors Shouldn’t Miss. In this article, we are going to take a look at where Lightspeed Commerce Inc. (NYSE:LSPD) stands against the other AI stocks.
On March 19th, the stock market bounced back after the US Federal Reserve kept interest rates unchanged at 4.25% to 4.5%. The Fed also anticipated two rate cuts this year despite elevated inflation. The S&P 500 index was up over 1%, while the Nasdaq Composite jumped by well over 200 points. The rally was led by the magnificent seven stocks after weeks of market declines amid trade wars and disappointing economic data.
Elsewhere, AI continues to transform industries and individual lives, from AI nurses reshaping hospital care to schools reporting that students are learning faster and more effectively with AI.
Furthermore, AngelList CEO Avlok Kohli claimed that all software companies are AI companies now.
“The enthusiasm into AI actually carries over into everything, which effectively impacts all startups,” said Kohli when asked if investors are as excited about emerging startups outside of AI.
Meanwhile, security risks surrounding AI continue to loom. Computer scientist and AI pioneer Fei-Fei Li co-authored a report suggesting that lawmakers should consider AI risks that “have not yet been observed in the world” when devising AI regulations. The report highlighted that the novel risks posed by AI could require legislation that compels AI developers to publicly report their safety tests and security protocols.
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 customer using a mobile device to purchase goods through an omni-channel experience.
Lightspeed Commerce Inc. (NYSE:LSPD)
Number of Hedge Fund Followers: 18
Lightspeed Commerce Inc. (NYSE:LSPD) offers a cloud-based commerce platform for merchants to scale and provide customer experiences for clients in the retail and hospitality sectors as well as golf businesses worldwide.
On March 19th, Lightspeed Commerce Inc. (NYSE:LSPD) announced a new AI-based website-building tool to help retail merchants create web pages for online stores from a screen capture. This technology would eliminate the requirement for manual coding and third-party developers and help them save time and money. The AI website builder is currently available in beta version with select Lightspeed merchants.
“Designing a website in-house can be time-consuming, frustrating, and complex for many merchants. Without design expertise or coding skills, they can often spend significant time experimenting with layouts, adjusting branding elements, and troubleshooting issues to get their store looking just right. Our goal is to remove the friction from website design and give merchants the power to iterate at the speed of commerce. This AI-driven technology is a leap forward in ecommerce efficiency, which can help businesses of all sizes create compelling digital experiences effortlessly.”
-said Dax Dasilva, Founder and CEO at Lightspeed.
Overall, LSPD ranks 6th on our list of top AI news updates investors shouldn’t miss. While we acknowledge the potential of LSPD 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 LSPD 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.
