Jim Cramer’s Bold Predictions About These 15 AI Stocks

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1. Amazon.com, Inc. (NASDAQ:AMZN)

Number of Hedge Fund Holders In Q3 2024: 286

Date of Cramer’s Comments: 08-14-24

Performance Since Then: 31.56%

Amazon.com, Inc. (NASDAQ:AMZN) is the biggest eCommerce firm in the US and also a key player in the lucrative cloud computing industry. Its partnership with AI firm Anthropic has also allowed the company to establish a foothold for itself in the AI industry and access technologies for enterprise AI products provided through AWS. Amazon.com, Inc. (NASDAQ:AMZN) is also among the handful of firms that operate across all layers of the AI stack – from designing custom chips to providing end-use applications. The tail-end of November and the start of December have been great for Amazon.com, Inc. (NASDAQ:AMZN)’s shares as its Project Rainier supercomputer built using in-house Trainium chips will be used by Anthropic to train AI. Cramer was very optimistic about the firm in August:

“We recently bought more Amazon shares because I believe the market was too harsh on their last quarter. Amazon is a buy, and I think it will continue to perform well.”

AMZN was an AI stock Jim Cramer was gushing about in August. While we acknowledge the potential of AMZN 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 AMZN 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.

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