We recently published a list of Top 9 Latest AI News Updates Investors Shouldn’t Miss. In this article, we are going to take a look at where Nebius Group N.V. (NASDAQ:NBIS) stands against other top latest AI news updates investors shouldn’t miss.
Artificial Intelligence (AI) is already transforming diverse industries, including healthcare, energy, cybersecurity, and communications by boosting productivity, enhancing engagement with clients, and significantly lowering operational overheads.
However, experts believe AI today hasn’t evolved enough to guide scientific processes. As tech giants race to launch AI co-scientist tools to help scientists develop hypotheses and research plans and unravel new knowledge, experts opined that these tools fall short of their promises.
“We’ve seen throughout history that some of the most important scientific advancements, like the development of mRNA vaccines, were driven by human intuition and perseverance in the face of skepticism,” said KhudaBukhsh, assistant professor of software engineering at Rochester Institute of Technology. “AI, as it stands today, may not be well-suited to replicate that.”
While some experts believe these tools could be a good starting point for researchers, the lack of details remains worrisome, raising questions about their potential.
“Those are things that various existing tools are claiming to do, but those are not jobs that I would personally leave up to current AI,” added Lana Sinapayen, an AI researcher at Sony Computer Science Laboratories in Japan. She believes that similar tools focus on the wrong kind of scientific legwork.
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 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).
A data analyst at their desk, using the company’s back-end infrastructure to uncover insights.
Nebius Group N.V. (NASDAQ:NBIS)
Number of Hedge Fund Followers: 66
Nebius Group N.V. (NASDAQ:NBIS) is a tech firm that builds AI infrastructure to support the rapidly growing AI industry. They develop full-stack infrastructure, including GPU clusters and AI-centric cloud platforms, using proprietary software architecture and in-house-built hardware to support heavy AI workloads.
On March 5th, Nebius Group N.V. (NASDAQ:NBIS) announced the construction of a new data center in New Jersey with a capacity of up to 300 MW as part of plans to expand its footprint in the US markets and become a leading AI infrastructure provider. The company also announced incremental data center capacity additions in Kansas City and a new colocation deployment in Keflavik, Iceland as it builds out more AI infrastructure across Europe. These additions will significantly contribute to the firm’s planned expansion of installed capacity in the US and Europe in 2025.
“Our first major data center in the US clearly advances our strategic goal of expanding our footprint in the American market as we continue building Nebius into a leading global AI infrastructure provider. This site has the potential to host dedicated large-scale instances, and we have considerable flexibility to accelerate our deployment plans as and when we need to. With New Jersey, we now have secured expansion capacity to over 400 MW. And we are actively reviewing options to extend this pipeline further as we seek to grow aggressively to multiples of where we are today.”
-said Arkady Volozh, founder and CEO of Nebius Group NV.
Overall, NBIS ranks 1st on our list of top latest AI news updates investors shouldn’t miss. While we acknowledge the potential of NBIS 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 NBIS 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.