We recently published a list of Top 9 AI Ratings and News Updates on Wall Street’s Radar. In this article, we are going to take a look at where Alibaba Group Holding Limited (NYSE:BABA) stands against other top AI ratings and news updates on Wall Street’s radar.
Despite AI’s potential to transform our lives for the better, security threats associated with the technology continue to make headlines. North Korea’s Kim Jong Un oversaw tests of newly developed AI-powered suicide drones and called for increased production. Kim Jong Un had reportedly said that unmanned control and AI capability should be prioritized in modern arms development.
Elsewhere, Alabama Governor Kay Ivey banned Chinese AI tools over data security concerns.
“When it comes to the threat posed by the Chinese government, Alabama takes no chances. Our citizens’ information must be protected in the strongest possible ways, which is why we are not only putting a ban on these two Chinese AI companies within our state government but also safeguarding our state’s IT infrastructure from any foreign country of concern,” she said.
Bill Gates also recently reiterated concerns about AI replacing most jobs. He believes the rate of advancements in AI could mean that the technology could replace many professions, including doctors and teachers.
“It’s very profound and even a little bit scary — because it’s happening very quickly, and there is no upper bound,” Gates said in a recent interview. However, he noted that certain types of jobs will likely never be replaced by AI. He said last year that he remains optimistic about the overall benefits of AI, like “breakthrough treatments for deadly diseases, innovative solutions for climate change, and high-quality education for everyone.”
We selected AI stocks by reviewing news articles, stock analysis, and press releases. We listed the stocks in ascending order of the number of hedge funds that hold stakes in them, as of Q4 2024.
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).
An e-commerce platform displaying a wide range of products to customers online.
Alibaba Group Holding Limited (NYSE:BABA)
Number of Hedge Fund Holders: 107
Alibaba Group Holding Limited’s (NYSE:BABA) offerings include technology infrastructure, e-commerce platforms, cloud services, and digital media solutions for businesses and consumers globally. The company has also made significant investments in AI development.
On March 26th, Alibaba Cloud announced it had launched Qwen2.5-Omni-7B, an end-to-end multimodal model in the Qwen series. The company said the new model is designed for comprehensive multimodal perceptions, capable of analyzing various inputs like text, images, audio, and videos to produce real-time text and natural speech responses. Alibaba is confident that the milestone sets a new standard for optimal deployable multimodal AI for edge devices like smartphones and laptops. It added that the high performance and robust multimodal capabilities make the new model a suitable foundation for developing agile and affordable AI agents.
Overall, BABA ranks 1st on our list of top AI ratings and news updates on Wall Street’s radar. While we acknowledge the potential of BABA 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 BABA 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.
