We recently compiled a list of the 9 AI News Updates That Analysts Are Monitoring. In this article, we are going to take a look at where Dell Technologies Inc. (NYSE:DELL) stands against the other AI stocks analysts are monitoring.
OpenAI of ChatGPT fame has emerged as the poster child of the AI revolution. The AI models behind the famous AI assistant have, however, started to attract unwanted attention in recent months. For example, news publication The Guardian has reported that a group of major news organizations in Canada have sued the AI firm for allegedly strip-mining journalism and unjustly enriching itself by using news articles to train the popular ChatGPT software. Per the report, the suit was filed in the superior court of justice in Ontario and calls for punitive damages, a share of profits made by OpenAI from using the articles, and an injunction barring the San Francisco-based company from using any of the news articles in the future.
Read more about these developments by accessing 10 Best AI Data Center Stocks and 10 Buzzing AI Stocks According to Goldman Sachs.
OpenAI has faced similar suits in recent months but has managed to fight back without incurring financial harm. The latest suit, per the report, includes news platforms like the Globe and Mail, the Canadian Press, the CBC, the Toronto Star, Metroland Media, and Postmedia. The companies want up to C$20,000 in damages for each article used by OpenAI, suggesting a victory in court could be worth billions. As it battles these claims, OpenAI has already signed licensing agreements with a handful of media organizations, including the Associated Press wire service, NewsCorp and Condé Nast.
Read more about these developments by accessing 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 team of IT experts discussing the latest network security trends over a laptop screen.
Dell Technologies Inc. (NYSE:DELL)
Number of Hedge Fund Holders: 60
Dell Technologies Inc. (NYSE:DELL) designs, develops, manufactures, markets, sells, and supports various comprehensive and integrated solutions, products, and services. Pat Gelsinger, the CEO of Intel, recently visited the AI data center of startup xAI. During his visit, the CEO praised the development of the data center in a short period of time and lauded Michael Dell, the founder and CEO of Dell Technologies and the current provider of xAI’s head node servers, for the engineering feat behind the buildup. There are reports that xAI is tapping Dell for AI servers following legal troubles at rival Supermicro.
Overall DELL ranks 8th on our list of AI stocks analysts are monitoring. While we acknowledge the potential of DELL 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 DELL 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.
