We recently compiled a list of the 10 AI News Stories That Are Dominating Headlines. In this article, we are going to take a look at where CEVA, Inc. (NASDAQ:CEVA) stands against the other AI stocks.
Grok 3, xAI’s chatbot and ChatGPT challenger is in its final stages of development, reported Elon Musk on Thursday. The chatbot is reportedly going to be released in a week or two. Speaking at the Dubai World Governments Summit, Musk said that the chatbot outperforms all others in the market.
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“Grok 3 has very powerful reasoning capabilities, so in the tests that we’ve done thus far, Grok 3 is outperforming anything that’s been released, that we’re aware of, so that’s a good sign”.
-Elon Musk
Musk had founded xAI as a rival to ChatGPT after he left OpenAI back in 2018. When Emirati State Minister for AI Omar Sultan Al Olama asked what to expect from the upcoming Grok 3 model, Musk bragged that it was “scary smart” with “very powerful reasoning capabilities.”
A few days back, a consortium of investors led by Musk said it had offered $97.4 billion to buy the nonprofit that controls OpenAI. The move marked an attempt by the billionaire to stop OpenAI from becoming a for-profit company. He had even sued CEO Sam Altman and others in August, asking a U.S. district judge to block OpenAI’s attempt to transition to a for-profit entity.
“I think the evidence is there in that OpenAI has gotten this far while having at least a sort of dual profit, non-profit role. What they’re trying to do now is to completely delete the non-profit, and that seems really going too far.”
Musk may be bragging that his chatbot is superior to others, but Benjamin De Kraker, who worked on the human data team for Grok development, has differing opinions on the top AI models for code. According to De Kraker, OpenAI’s o1-pro, o1, and o3-mini are all tied for the top spot, while the unreleased Grok 3 is in fourth position. Only time will tell who is right.
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 close-up of a digital signal processor, showing its exceptional processing capabilities.
CEVA, Inc. (NASDAQ:CEVA)
Number of Hedge Fund Holders: 17
CEVA, Inc. (NASDAQ:CEVA) provides silicon and software solutions for semiconductor and OEM companies globally. On February 11, the company announced that ListenAI Technology has licensed the Ceva-Waves Wi-Fi 6 IP to enhance its portfolio of Edge AI processors. ListenAI Technology is a leader in intelligent terminal system-on-chip (SoC) solutions, with its processors targeting a wide range of applications that use audio, voice, and vision. The partnership aims to address the need for cutting-edge wireless solutions and seamless connectivity. By adopting Ceva-Waves Wi-Fi 6 IP for its new Wi-Fi 6 SoC, ListenAI will ensure that devices can meet performance, reliability, and power efficiency demands. The partnership will enable the company to expand its product offerings, integrating robust wireless capabilities with advanced AI-driven features.
“We believe that robust and efficient wireless connectivity is essential for the performance of edge AI devices. Our Wi-Fi 6 IP enables ListenAI’s edge AI portfolio to seamlessly connect, process, and respond in real time, empowering smarter interactions and delivering the reliability, speed, and efficiency demand from intelligent devices.”
-Tal Shalev, vice president and general manager of the wireless IoT business unit at Ceva.
Overall CEVA ranks 4th on our list of the AI stocks that are dominating headlines. While we acknowledge the potential of CEVA 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 timeframe. If you are looking for an AI stock that is more promising than CEVA 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.
