We recently published a list of 14 AI Stocks Catching Wall Street’s Attention. In this article, we are going to take a look at where Amazon.com Inc. (NASDAQ:AMZN) stands against other AI stocks catching Wall Street’s attention.
In the latest development in the feud between OpenAI and Elon Musk, the ChatGPT maker has countersued billionaire Musk, citing a pattern of harassment. The company also asked a federal judge to stop Musk from any “further unlawful and unfair action” against OpenAI in a court case over the company’s future structure that has fueled the AI revolution.
OpenAI claims that Musk has tried “nonstop” to slow down its business for his benefit, accusing him of using “bad-faith tactics” against it to help him control AI technology.
Musk has been actively seeking to stop OpenAI from transitioning to a “for-profit” company, claiming that the transition will be a bad idea, which prioritizes commercial interests and compromises its mission of benefiting humanity.
OpenAI, however, denies these allegations. The company must complete its transition by the end of the year if it seeks to secure the entire $40 billion of its current fundraising round. If the transition fails to complete by year-end, the funding will likely be reduced to US$20 billion.
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“Through press attacks, malicious campaigns broadcast to Musk’s more than 200 million followers on the social media platform he controls, a pretextual demand for corporate records, harassing legal claims, and a sham bid for OpenAI’s assets, Musk has tried every tool available to harm OpenAI,”
-OpenAI wrote in a filing in Musk’s existing lawsuit against it in U.S. District Court for the Northern District of California.
In response, Musk’s legal team has referred to a $97.4 billion unsolicited takeover bid from a Musk-led consortium. This bid was rejected by OpenAI.
“Had OpenAI’s Board genuinely considered the bid as they were obligated to do they would have seen how serious it was. It’s telling that having to pay fair market value for OpenAI’s assets allegedly ‘interferes’ with their business plans.”
-Musk’s lawyer Marc Toberoff said in a statement provided to Reuters.
“Elon’s nonstop actions against us are just bad-faith tactics to slow down OpenAI and seize control of the leading AI innovations for his personal benefit. Today, we countersued to stop him.”
-OpenAI said in a statement on Wednesday.
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. The hedge fund data is 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).
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Amazon.com, Inc. (NASDAQ:AMZN)
Number of Hedge Fund Holders: 339
Amazon.com Inc. (NASDAQ:AMZN) is an American technology company offering e-commerce, cloud computing, and other services, including digital streaming and artificial intelligence solutions. On April 10, Truist reiterated the stock as “Buy” but reduced the price target to $230 from the previous $265. The firm said it’s cutting its price target but standing by the stock. This is because it believes that despite short-term headwinds, the company’s strategic position and market presence will help its growth over the longer term.
“We’re reducing our estimates and PT to $230 from $265 for AMZN on tariff concerns, particularly with China which is now subject to 125% rate.”
Overall, AMZN ranks 1st on our list of AI stocks catching Wall Street’s attention. While we acknowledge the potential of 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 time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than AMZN but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.
