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Amazon.com, Inc. (AMZN)’s New Discount Storefront Haul Faces AI Image Accuracy Issues

We recently published a list of 15 AI News That Broke The Internet This Week. In this article, we are going to take a look at where Amazon.com, Inc. (NASDAQ:AMZN) stands against other AI news that broke the internet this week.

AI trends are sweeping markets globally. On November 14, TikTok, the popular social media application owned by Chinese firm ByteDance, announced the availability of Symphony Creative Studios, a generative AI video creation platform it has developed, to all advertisers. According to a report by news agency Reuters, the launch is part of a larger plan by the Chinese tech giant to boost its ad business. A press release from the company indicates that some AI features included in the new platform are turning text inputs into videos, generating previews that can be edited to finalize the content, remixing, digital avatar creation, as well as translation and more.

Read more about these developments by accessing 10 Best AI Data Center Stocks and 10 Buzzing AI Stocks According to Goldman Sachs.

Meanwhile, Foxconn, the Taiwan-based company that is one of the largest contract manufacturers of electronics in the world, announced that it expects robust growth in its artificial intelligence server business next year and will increase investment in several countries amid mounting trade tensions between the US and China. Per a report by Reuters, Young Liu, the chairman of the firm, said after the quarterly earnings results that his firm would be watching to see what policies Donald Trump implements as US president. He added that Foxconn plants in Wisconsin and Texas have seen steady growth in sales on strong demand for AI servers, and the outlook for US operations was positive.

READ ALSO: 30 Most Important AI Stocks According to BlackRock and Beyond the Tech Giants: 35 Non-Tech AI Opportunities.

For this article, we selected AI stocks by combing 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).

A customer entering an internet retail store, illustrating the convenience of online shopping.

Amazon.com, Inc. (NASDAQ:AMZN)

Market Capitalization: $2.1 Trillion  

Amazon.com, Inc. (NASDAQ:AMZN) operates as a technology conglomerate with core interests in the ecommerce business. The company recently launched a new online discount storefront named Haul. The storefront, designed to be a competitor to Chinese online discount stores, prices items under $20. An analysis of the platform by Modern Retail, a media brand covering the ins and outs of the reinvention of the retail industry, indicates that a lot of postings on the platform include AI images. Per Modern Retail, the accuracy of these images, in relation to the product being sold, is not the best.

Overall, AMZN ranks 4th on our list of AI news that broke the internet this week. 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. 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 the cheapest AI stock.

READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock.

Disclosure: None. This article is originally published at Insider Monkey.

AI Fire Sale: Insider Monkey’s #1 AI Stock Pick Is On A Steep Discount

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A New Dawn is Coming to U.S. Stocks

I work for one of the largest independent financial publishers in the world – representing over 1 million people in 148 countries.

We’re independently funding today’s broadcast to address something on the mind of every investor in America right now…

Should I put my money in Artificial Intelligence?

Here to answer that for us… and give away his No. 1 free AI recommendation… is 50-year Wall Street titan, Marc Chaikin.

Marc’s been a trader, stockbroker, and analyst. He was the head of the options department at a major brokerage firm and is a sought-after expert for CNBC, Fox Business, Barron’s, and Yahoo! Finance…

But what Marc’s most known for is his award-winning stock-rating system. Which determines whether a stock could shoot sky-high in the next three to six months… or come crashing down.

That’s why Marc’s work appears in every Bloomberg and Reuters terminal on the planet…

And is still used by hundreds of banks, hedge funds, and brokerages to track the billions of dollars flowing in and out of stocks each day.

He’s used this system to survive nine bear markets… create three new indices for the Nasdaq… and even predict the brutal bear market of 2022, 90 days in advance.

Click to continue reading…