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 International Business Machines Corporation (NYSE:IBM) 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.
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International Business Machines Corporation (NYSE:IBM)
Number of Hedge Fund Holders: 56
International Business Machines Corporation (NYSE:IBM) is a multinational technology company that offers AI consulting services, software products, and solutions for cloud computing, analytics, and enterprise systems. On December 13, Bank of America Securities analyst Wamsi Mohan maintained a “Buy” rating on International Business Machines and kept the price target at $250.00. IBM’s strategic position in the enterprise AI space has led to the buy rating. The company’s integration with Red Hat’s offerings, such as RHEL AI and OpenShift AI, allows it to deliver cost-effective AI solutions for enterprises. The open-source approach offers a unique value proposition to its customers. The year 2025 is anticipated to be a pivotal year for AI production success given that the infrastructure is already in place for both private and public cloud environments. Additionally, Neural Magic is anticipated to enhance IBM’s capabilities further by enhancing model efficiency and reducing costs.
Overall, IBM ranks 5th on our list of top AI news you shouldn’t miss. While we acknowledge the potential of IBM 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 IBM 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.
