We recently published a list of Top 10 AI News You Shouldn’t Miss. In this article, we are going to take a look at where Hewlett Packard Enterprise Company (NYSE:HPE) stands against other top AI news you shouldn’t miss.
The United States is gearing up to be the leader in artificial intelligence technology. However, other nations are also intensifying their efforts to compete in this rapidly advancing field. To challenge the United States’ dominance in this critical technology, Russia has recently pledged to participate in the global race for artificial intelligence actively.
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Speaking at Russia’s flagship AI conference last week, President Vladimir Putin said Russia would develop artificial intelligence with BRICS partners and other countries.
According to Putin, the new AI Alliance Network would include national associations and development institutions in the field of AI from BRICS countries and other interested states. He also claimed that the country must participate equally in the global AI race.
“Russia must participate on equal terms in the global race to create strong artificial intelligence. It is precisely the advanced solutions that Russian scientists are currently working on. We invite scientists from all over the world to join in the collaboration”.
-Putin told an AI conference in Moscow.
Russia has been subject to Western sanctions which have been directed to restrict the country’s access to technologies it needs in the war against Ukraine. As a result, some of the world’s major producers of microchips have halted exports to Russia, limiting its AI ambitions.
Reuters reports how Russia’s dominant lender Sberbank, who is currently leading the AI development in Russia, admits that the microchips underpinning AI development are the trickiest hardware to replace. In this regard, it noted how national AI associations from BRICS members Brazil, China, India, South Africa, Serbia, Indonesia, and other non-BRICS countries, had joined the AI Alliance Network.
The network will be working toward joint research in technology and AI regulation, offering opportunities for AI products to be sold in other member countries’ markets. Currently, the leading AI powers of the world are the United States and China. It goes without saying that Russia’s alliance with China has the potential to significantly reshape the future landscape of artificial intelligence.
Meanwhile, the US is also gearing up to continue leading in AI. President-elect Donald Trump has already appointed an AI and Crypto Czar. Trump is also set to repeal President Joe Biden’s executive order on AI. Trump plans to repeal Biden’s AI order to reduce regulatory constraints, fostering rapid innovation and maintaining the U.S. edge in the global AI race.
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 woman programmer in a modern office working with multiple computer servers.
Hewlett Packard Enterprise Company (NYSE:HPE)
Number of Hedge Fund Holders: 64
Hewlett Packard Enterprise Company (NYSE:HPE) is a technology company that provides high-performance computing (HPC) systems, AI software, and data storage solutions. On December 13, it was announced that the company has been commissioned by The Leibniz Supercomputing Center (LRZ) of the Bavarian Academy of Sciences and Humanities to build its next high-performance computer called “Blue Lion”. Scheduled to go live in early 2027 as part of Germany’s national high-performance computing (HPC) infrastructure, the supercomputer will support cutting-edge research in Bavaria as well as outstanding national science projects. The Blue Lion is based on next-generation HPE Cray technology, and works with next-generation NVIDIA accelerators and processors. It is going to be 30 times faster than its predecessor, SuperMUC-NG.
“Supercomputing plays a pivotal role for progress in science and society, as well as for national competitiveness. LRZ’s Blue Lion is another big step to reinforce Germany’s position as a leading region for supercomputing and AI innovation. Blue Lion will significantly advance LRZ’s computing capacity and also position them in a cutting-edge position with next-generation technologies that will set new standards for the future of supercomputing”.
-Heiko Meyer, Executive Vice President and Chief Sales Officer, Hewlett Packard Enterprise.
Overall, HPE ranks 4th on our list of top AI news you shouldn’t miss. While we acknowledge the potential of HPE 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 HPE 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.