We recently published a list of Top 8 AI News Updates Driving Markets Today. In this article, we are going to take a look at where Faraday Future Intelligent Electric Inc. (NASDAQ:FFAI) stands against other top AI news updates driving markets today.
The AI race switched gears after Chinese AI startup DeepSeek announced on March 25th that it released a major upgrade to its V3 LLM, intensifying competition with US rivals like OpenAI and Anthropic.
The new model, DeepSeek-V3-0324, is available through the AI development platform Hugging Face as part of the company’s latest efforts to position itself as a leader in the global AI market. DeepSeek claims that the upgrade brings major improvements in reasoning and coding capabilities.
The development comes a day after OpenAI released updates for the Advanced Voice Mode AI feature, which allows for real-time conversation in ChatGPT.
“An OpenAI spokesperson said its new AI voice assistant for paying users is “more direct, engaging, concise, specific, and creative in its answers.”
Elsewhere, fintech Ant Group, backed by Jack Ma, claimed that it was able to develop methods using Chinese chips that trim AI training costs by 20%. This update could hint that Chinese AI developers might be able to gradually reduce reliance on top AI chips manufactured in the US.
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 Q4 2024 database of over 1000 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 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
A cutting-edge electric vehicle being charged in a city street as the sun sets.
Faraday Future Intelligent Electric Inc. (NASDAQ:FFAI)
Number of Hedge Fund Holders: 7
Faraday Future Intelligent Electric Inc. (NASDAQ:FFAI) uses AI and a proprietary variable platform architecture to design, manufacture, and market “TechLuxury” electric vehicles. The company also develops autonomous driving and intelligence systems within its intelligent mobility ecosystem.
On March 24th, Faraday Future Intelligent Electric Inc. (NASDAQ:FFAI) announced securing $41 million in new cash financing commitments that will help it speed up R&D and AI development, advance the FX brand, and execute strategic projects to launch the first FX vehicle by 2025-end. The company added that the net proceeds will help it advance research and testing of autonomous driving capabilities, improve AI talent acquisition efforts, and accelerate infrastructure building.
“This new round of funding lays a solid foundation for not only FF but also our new FX brand as it continues to make important milestones in market strategy and in product development. I am optimistic about the opportunities that this new funding will bring, including supporting the ongoing production of our FF 91 2.0 and the growth of the FX brand in 2025.”
-said Matthias Aydt, Global CEO of FF.
Overall, FFAI ranks 5th on our list of top AI news updates driving markets today. While we acknowledge the potential of FFAI 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 time frame. If you are looking for an AI stock that is more promising than FFAI 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.