We recently published a list of 10 AI News Updates You Should Not Miss. In this article, we are going to take a look at where NVIDIA Corporation (NASDAQ:NVDA) stands against other AI news updates you should not miss.
Europe is putting itself on the artificial map with France and the United Arab Emirates having agreed to a framework accord for a 1 gigawatt data center dedicated to artificial intelligence. The French presidency said in a statement that the center will be the core of a new AI “campus” and will have up to 1 gigawatt of capacity, “which represents investments of 30 to 50 billion euros”.
READ ALSO: Top 10 AI Stocks Trending On Wall Street and 12 High-Flying AI Stocks This Week
The move is said to be a part of a larger AI agreement signed between French President Emmanuel Macron and his UAE counterpart Sheikh Mohamed bin Zayed Al Nahyan in Paris. President Emmanuel Macron hosted his Emirati counterpart on Thursday.
“The two leaders expressed their desire to create a strategic partnership in the field of AI and committed to exploring collaborations on projects and investments supporting the development of the AI value chain”.
-A joint Franco-Emirati statement.
According to the leaders, the investments would go into both French and Emirati AI and would include buying advanced chips, building data centers, talent development, and establishing virtual data embassies to secure AI and cloud systems in both countries.
France is also going to be hosting the Artificial Intelligence (AI) Action Summit at the Grand Palais on February 10-11, 2025. The country has deemed the summit a “wake-up call” for Europe in the global race for AI.
“The summit comes at exactly the right time for this wake-up call for France and Europe, and to show we are in position” to take advantage of the technology, an official in Macron’s office told reporters.
Attendees at the summit will include Sam Altman, head of OpenAI, Google CEO Sundar Pichai, and Nobel Prize winner Demis Hassabis, who leads the company’s DeepMind AI research unit, amongst many other industry leaders, government officials, and similar figures from around the world.
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.
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 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).
NVIDIA Corporation (NASDAQ:NVDA)
Number of Hedge Fund Holders: 193
NVIDIA Corporation (NASDAQ:NVDA) specializes in AI-driven solutions, offering platforms for data centers, self-driving cars, robotics, and cloud services. On February 7, Timothy Arcuri from UBS maintained a “Buy” rating on the stock with a price target of $185.00. Besides UBS, analyst Joseph Moore at Morgan Stanley is also bullish on the stock and calls Nvidia a “top pick”. On February 6th, Moore reiterated an “Overweight” rating on the stock with a $152 price target. He said investors should buy in the DeepSeek dip.
“While sentiment has worsened around potential longer term risks, near term business continues to firm, Blackwell supply visibility continues to build [and] customer desire to spend is clearly on display. We remain very optimistic on how the balance of the year plays out.”
-Joseph Moore
Amongst other things, Moore believes the biggest long-term catalyst for Nvidia goes beyond AI training and into the company’s leadership in the inference market. Inference is a process where trained AI models apply its knowledge to new data and then making predictions or decisions based on that data.
“We remain convinced that Nvidia is the biggest beneficiary of long inference workloads.”
Overall, NVDA ranks 4th on our list of AI news updates you should not miss. While we acknowledge the potential of NVDA 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 NVDA 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 Complete List of 59 AI Companies Under $2 Billion in Market Cap
Disclosure: None. This article is originally published at Insider Monkey.