Jim Cramer’s Bold Predictions About These 15 AI Stocks

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10. Snowflake Inc. (NYSE:SNOW)

Number of Hedge Fund Holders In Q3 2024: 71

Date of Cramer’s Comments: 8-16-24

Performance Since Then: 23.91%

Snowflake Inc. (NYSE:SNOW) is a data warehousing company that is one of the biggest of its kind. Estimates suggest that the firm holds a 22% market share which provides it with a sizable advantage in today’s AI industry since data is indispensable for the proper functioning of AI models. Snowflake Inc. (NYSE:SNOW)’s shares have struggled in 2024 due to a broader slowdown in enterprise and cloud computing. However, the firm’s shares jumped by a whopping 33% in November after it announced a partnership with Amazon-backed Anthropic to build AI agents for data analysis. The share price jump reflected the potential offered by Snowflake Inc. (NYSE:SNOW)’s data resources to combine with Anthropic’s AI technologies for analytics. Cramer held off recommending the stock in August:

“The latest feedback I’m getting about Snowflake is that they’re facing some difficulties and are being challenged by a couple of companies. It’s kind of a tough road for them right now. I think I’m going to hold off on recommending it.”

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