We recently published a list of 10 AI Stocks Dominating Wall Street. In this article, we are going to take a look at where Alibaba Group Holding Limited (NYSE:BABA) stands against other AI stocks dominating Wall Street.
Representatives from around the world are going to be attending the Artificial Intelligence (AI) Summit at the Grand Palais on 10–11 February 2025. The summit will focus on harnessing the power of AI systems as well as the risks posed by them. From heads of state and government and leaders of international organizations to business leaders, as well as representatives from academia, civil society, and the arts, it would seem everyone related to the artificial intelligence world is to attend. However, that’s not quite true.
READ ALSO: Top 10 AI Stocks Trending On Wall Street and 12 High Flying AI Stocks This Week
Reuters has recently reported that the U.S. delegation to the AI Summit will not include technical staff from the country’s AI Safety Institute. Vice President JD Vance is leading the U.S. contingent to France, with attendees including members of the White House Office of Science and Technology Policy: Principal Deputy Director Lynne Parker and Senior Policy Advisor for Artificial Intelligence Sriram Krishnan. However, Homeland Security and Commerce Department officials are not going to be there, particularly the representatives of the U.S. AI Safety Institute trips have been canceled.
The AI Safety Institute, created under former President Joe Biden, was created to mitigate certain risks from AI, having signed agreements with U.S. startups OpenAI and Anthropic for safety testing. The absence of these representatives implies that the Commerce Department, in which the Safety Institute resides, is still in the transition phase after Trump’s inauguration.
Regarding the discussion on AI, Prof Gina Neff from the Minderoo Centre for Technology and Democracy said that there is currently “a vacuum for global leadership on AI”.
Another professor from Southampton University seems to agree:
“DeepSeek made everybody realize that China is a force to be reckoned with,” says the computer scientist. We don’t have to just go along with what the big companies on the West Coast are saying. We need global dialogue.”
-Prof Dame Wendy Hall, Southampton University.
For this article, we selected AI stocks by going through news articles, stock analysis, and press releases. These stocks are also popular among 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 275% since May 2014, beating its benchmark by 150 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: 115
Alibaba Group Holding Limited (NYSE:BABA) is an online retailer that leverages AI in its e-commerce business. On February 7, Chinese news outlet The Paper reported that Alibaba has denied claims that said that the Chinese e-commerce giant intends to invest in DeepSeek. The Paper quoted Yan Qiao’s statements, who works as the vice president at Alibaba.
“As a fellow Chinese and Hangzhou company, we applaud DeepSeek, but news circulating that Alibaba will invest in DeepSeek is fake news.”
Earlier on Friday, other Chinese media outlets reported rumors that Alibaba (NYSE:BABA) planned to invest $1 billion into DeepSeek.
Overall, BABA ranks 3rd on our list of AI stocks dominating Wall Street. While we acknowledge the potential of BABA 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 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 Complete List of 59 AI Companies Under $2 Billion in Market Cap
Disclosure: None. This article is originally published at Insider Monkey.