We recently published a list of 10 Tech News Updates Investors Should Not Miss. In this article, we are going to take a look at where Aptiv PLC (NYSE:APTV) stands against other tech news updates investors should not miss.
On March 6th, CoreWeave, an Nvidia-backed cloud-computing startup, denied claims in a Financial Times report that Microsoft had pulled the plug in some of the agreements it had signed with the cloud provider due to service delivery challenges and missed deadlines.
“We pride ourselves in our client partnerships and there have been no contract cancellations or walking away from commitments. Any claim to the contrary is false and misleading,” a CoreWeave spokesperson told Reuters in an emailed statement.
The news follows after Stack Capital Group made an investment of $10 million in the AI-infrastructure company, according to a company release on March 5th.
“Given its growing data center presence across the United States, Europe, and Canada, CoreWeave is extremely well-positioned to continue capitalizing on accelerating global demand for AI infrastructure and compute capabilities,” said Jeff Parks, CEO of Stack Capital.
According to a Reuters report on March 7th, the Azure parent has begun testing out models from xAI, Meta and DeepSeek to develop AI models to compete with 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, as of Q4 2024.
At Insider Monkey we are obsessed with 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).
Aptiv PLC (NYSE:APTV)
Number of Hedge Fund Holders: 52
Aptiv PLC (NYSE:APTV) is an automotive technology supplier. On March 6th, TD Cowen initiated coverage on the company’s stock, giving it a “Buy” rating with a price target of $90. The rating is backed by the company’s accelerated growth driven by impressive bookings compared to its peers. The automotive technology company’s anticipated Electrical Distribution Systems spinoff could potentially serve as a catalyst for future growth.
Through the spinoff, the company’s financial structure is slated to be more aligned with multi-industrial companies which can have a strong bearing on its stock performance.
Overall, APTV ranks 5th on our list of tech news updates investors should not miss. While we acknowledge the potential of APTV 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 APTV 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.
