We recently compiled a list of the Top 8 Must-See AI News Updates Investors Probably Missed. In this article, we are going to take a look at where Cyngn Inc. (NASDAQ:CYN) stands against the other AI stocks.
As the US and Asia, led by China, continue to make staggering advancements in AI, experts worry that Europe may fall behind as its extremely strict regulatory approach to AI puts it at risk of becoming a “museum.”
“I think we really need to step up in Europe…the American economy, Chinese economy have been growing far faster compared to the European economies over the last 20 years,” Sweden PM Ulf Kristersson told attendees of the Techarena event in Stockholm today. “If we don’t change that, Europe will actually become some kind of a museum compared to other parts of the world.”
“To be able to compete in the new geopolitical context, Europe needs to become a place where business and innovation can thrive. That means less regulation. That means more access to capital and talent,” Kristersson added. “As it stands now, we’ve got companies having troubles using the latest technology due to uncertainties with the European legislation, companies founded in Europe relocating to the U.S. due to the lack of access to capital. That is simply not good enough.”
Despite French President Emmanuel Macron’s $113.7 million investment in AI, which included commitments from UAE and Canadian investment funds, as well as European Commission President Ursula von der Leyen announcing that the EU would mobilize $208.6 billion for AI investments in Europe, US VP JD Vance said Europe is too focused on regulating AI rather than embracing its growth potential.
“To create that kind of trust, we need international regulatory regimes that fosters the creation of AI technology rather than strangles it, and we need our European friends in particular to look to this new frontier with optimism rather than trepidation,” Vance told attendees at the Paris Summit.
We selected AI stocks by reviewing news articles, stock analysis, and press releases. We listed the stocks in ascending order of their hedge fund sentiment taken from Insider Monkey’s database of over 1000 hedge funds, 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 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).
A close-up of a fuel pump operated by a robotic arm, symbolizing the company’s technology-driven industrial solutions.
Cyngn Inc. (NASDAQ:CYN)
Number of Hedge Fund Holders: 1
Cyngn Inc. (NASDAQ:CYN) designs and supplies scalable, differentiated autonomous vehicle systems, AV fleet management, and analytics tools powered by AI for the industrial sector to enhance the productivity, adaptability, and efficiency of existing workforces by addressing labor shortages, safety incidents, and surging consumer demand for eCommerce.
On February 20th, Cyngn Inc. (NASDAQ:CYN) announced the deployment of DriveMod Tuggers and DriveMod Forklifts to deliver innovative autonomous vehicle solutions to diverse industries, including manufacturing, logistics, defense, and consumer packaged goods.
“The strong demand we’re seeing across industries like Manufacturing, Consumer Packaged Goods, Logistics, and Defense highlights the clear product-market fit of our DriveMod technology. From the rigorous standards of the defense sector to the high-volume operations of consumer packaged goods, our solutions have proven their ability to meet the unique demands of each environment. These deployments validate the need for scalable, autonomous solutions and reinforce the growing appetite for innovation in industrial automation.”
-said Lior Tal, CEO of Cyngn Inc.
Overall CYN ranks 7th on our list of the AI stocks investors probably missed. While we acknowledge the potential of CYN as an investment, our conviction lies in the belief that 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 CYN but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: 20 Best AI Stock To Buy Now and Complete List of All AI Companies Under $2 Billion Market Cap.
Disclosure: None. This article is originally published at Insider Monkey.
