We recently published a list of Top 10 Must-See AI News And Ratings For Investors. In this article, we are going to take a look at where HIVE Digital Technologies Ltd. (NASDAQ:HIVE) stands against other top must-see AI news and ratings for investors.
A high US inflation print has diminished hopes of interest rate cuts by the Federal Reserve, which triggered a downdraft in the US stock markets as the S&P 500 index fell 0.27% to 6051.97 on February 12th, led by share price declines witnessed by several of the magnificent seven companies.
Meanwhile, industry experts are forecasting that DeepSeek’s open-source nature and low fees could drive AI adoption and the development of real-life applications for the technology, which could enable Chinese firms to overcome US export limitations on their powerful chips. Furthermore, dozens of Chinese firms across industries are mulling the integration of DeepSeek’s AI model into their products and business operations.
“This development is very much aligned with the capability of Chinese AI chipset vendors,” said Lian Jye Su, a chief analyst at Omdia. “Chinese AI chipsets struggle to compete with Nvidia’s GPU (graphics processing unit) in AI training, but AI inference workloads are much more forgiving and require a lot more local and industry-specific understanding.”
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 900 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 hands typing code to facilitate the exchange of Ethereum and Ethereum Classic.
HIVE Digital Technologies Ltd. (NASDAQ:HIVE)
Number of Hedge Fund Holders: 7
HIVE Digital Technologies Ltd. (NASDAQ:HIVE) mines and sells digital currencies like Bitcoin and Ethereum. The company also develops and manages data centers that fuel cryptocurrency mining. It uses AI in data centers to power Web3 projects and high-performance computing for industries like healthcare and education.
On February 13th, H.C. Wainwright increased HIVE Digital Technologies Ltd.’s (NASDAQ:HIVE) target price to $10 from $8 and retained a “Buy” stock rating. The brokerage highlighted the company’s “solid” fiscal Q3 results, adding that its “compelling near-term growth prospects remain underappreciated.” Analysts explained that HIVE Digital Technologies Ltd. (NASDAQ:HIVE) remains among the most undervalued miners in the sector despite its compelling near-term growth prospects and upside potential from AI.
Overall, HIVE ranks 5th on our list of top must-see AI news and ratings for investors. While we acknowledge the potential of HIVE 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 HIVE 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.
