We recently compiled a list of the Top 8 Trending AI Stock Updates On Wall Street Today. In this article, we are going to take a look at where Maplebear Inc. (NASDAQ:CART) stands against the other AI stocks.
As the global AI race heats up with rapid developments in Asia, led by China, the UK government is attempting to strengthen its relationship with the US, with AI at the forefront of the transatlantic collaboration. The UK Prime Minister confirmed during a visit to the White House in February that the nations are working on a new economic plan focusing on advanced technologies.
Meanwhile, US Vice President J.D. Vance said on March 18th that freeing AI from regulation is beneficial for American workers and tech innovators.
“I think there’s too much fear that AI will simply replace jobs rather than augmenting so many of the things that we do now,” said Vance at the Andreessen Horowitz American Dynamism Summit in Washington, D.C.
Although he acknowledged that AI could lead to the displacement of jobs, the vice president highlighted that historical evidence shows that innovation helps create higher-paying jobs.
Elsewhere, OpenAI described DeepSeek as state-controlled in a new policy proposal. It urged the US government to consider banning models from the outfit, claiming potential security risks due to its possible connection with the People’s Republic of China (PRC). OpenAI had previously accused DeepSeek of “distilling” knowledge from OpenAI’s models in violation of its terms of service.
“We’re not advocating for restrictions on people using models like DeepSeek. What we’re proposing are changes to U.S. export rules that would allow additional countries to access U.S. compute on the condition that their datacenters don’t rely on PRC technology that present[s] security risks — instead of restricting their access to chips based on the assumption that they will divert technology to the PRC. The goal is more compute and more AI for more countries and more people.”
-said OpenAI spokesperson Liz Bourgeois.
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 Q4 2024 database of over 1000 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 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
Copyright: rawpixel / 123RF Stock Photo
Maplebear Inc. (NASDAQ:CART)
Number of Hedge Fund Followers: 60
Maplebear Inc. (NASDAQ:CART), doing business as Instacart, offers online grocery shopping and home delivery services through a website and mobile app.
On March 20th, Instacart announced a suite of new AI-powered automation tools to boost ad campaign performance to help brands realize their business goals. The tools include AI-powered landing pages, Universal Campaigns, product library improvements, and campaign recommendations designed to save brands time. For instance, Universal Campaigns, powered by machine learning, enables advertisers to create a single campaign with one budget that auto-optimizes across multiple ad formats, saving them the hassle of budget allocation and format optimization. Meanwhile, AI-driven landing pages enable brands to swiftly generate product showcases and custom copy for their brand destinations.
“At Instacart, we’re motivated to use the latest technology to help our brand partners succeed in an increasingly complex advertising landscape. As the retail media space continues to mature, brands face more choices than ever about where and how to reach consumers. We’re investing in AI-powered automation that can cut through some of that complexity – reducing manual setup and allowing advertisers to maximize performance aligned with their business objectives through automatic optimization across formats and placements. Ultimately, these innovations benefit consumers too, creating more personalized discovery experiences that help them find new products they’ll love. We’ve developed these tools hand-in-hand with our advertising partners, and we’re excited to see them drive meaningful growth for brands across the Instacart Ads ecosystem.”
-said Ali Miller, VP of Ads Product at Instacart.
Overall, CART ranks 2nd on our list of trending AI stock updates on Wall Street today. While we acknowledge the potential of CART 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 time frame. If you are looking for an AI stock that is more promising than CART but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None. This article is originally published at Insider Monkey.
