We recently published a list of 15 Trending AI Stocks on Latest News and Ratings. In this article, we are going to take a look at where Applied Materials, Inc. (NASDAQ:AMAT) stands against other trending AI stocks on latest news and ratings.
According to Anthropic CEO Dario Amodei, artificial intelligence models capable of performing at human levels may emerge as early as 2026. That is, if current advancements hold steady. Amodei compares the path to general artificial intelligence with educational stages. Currently, he notes that we’re starting to get to PhD level, while last year we were at the undergraduate level.
READ ALSO: 10 AI News Making Waves Today and 10 AI Stocks to Watch on Latest News and Analyst Ratings.
“If you just eyeball the rate at which these capabilities are increasing, it does make you think that we’ll get there by 2026 or 2027”.
– Anthropic CEO Dario Amodei
He also acknowledged that possible setbacks may exist, such as data shortages, limitations in scaling AI clusters, and potential geopolitical issues impacting microchip supply chains. Previously, OpenAI CEO Sam Altman made a similar claim, noting that artificial general intelligence can be achieved in five years with the current hardware. According to Altman, the benchmark would pose “surprisingly little” change to society.
Latest Developments in AI
How fast we can get to AGI is a debate of its own. In the meantime, let’s take a closer look at the latest developments and innovations shaping the world of artificial intelligence. In its first, a robot has been trained by watching videos of seasoned surgeons, performing the same surgical procedures skillfully as human doctors. The findings, led by Johns Hopkins University researchers, were illuminated at the Conference on Robot Learning in Munich, a top event for robotics and machine learning.
“It’s really magical to have this model and all we do is feed it camera input and it can predict the robotic movements needed for surgery. We believe this marks a significant step forward toward a new frontier in medical robotics.”
– Senior author Axel Krieger, an assistant professor in JHU’s Department of Mechanical Engineering.
In other news, CNBC’s David Faber reports that Elon Musk’s artificial intelligence company xAI is raising up to $6 billion at a $50 billion valuation. Musk’s AI startup seeks to “understand the true nature of the universe. Last year, xAI released a chatbot named Grok, modeled after “The Hitchhiker’s Guide to the Galaxy.” The chatbot aims to directly compete with companies including ChatGPT creator OpenAI.
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).
A technician in a clean room assembling a semiconductor chip using a microscope.
Applied Materials, Inc. (NASDAQ:AMAT)
Market Capitalization: $139.23 billion
Applied Materials, Inc. (NASDAQ:AMAT) is a leader in materials engineering solutions engaged in the provision of manufacturing equipment, services, and software to the semiconductor, display, and related industries. This key AI player provides the equipment needed to produce chips that power everything from personal computers to smartphones.
On November 15, TD Cowen analyst Krish Sankar maintained a “Buy” rating on Applied Materials, Inc. (NASDAQ:AMAT), reducing the price target to $230.00. The buy rating comes from strong operational enhancements and a favorable pricing strategy for Applied Materials. The company has a robust position in the market, with market leadership in Gate All Around (GAA) technology and high-speed memory. In particular, it possesses a top 25% share in DRAM and High Bandwidth Memory (HBM). Moreover, although there is some quarterly revenue volatility expected, strong spending on Integrated Circuit and Packaging Systems (ICAPS), especially from China, is expected to boost growth.
Overall, AMAT ranks 5th on our list of trending AI stocks on latest news and ratings. While we acknowledge the potential of AMAT 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 AMAT but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.
