We recently published a list of Top 8 AI News Updates Investors Should Not Miss. In this article, we are going to take a look at where Spectral AI Inc. (NASDAQ:MDAI) stands against other top AI news updates investors should not miss.
The global AI industry is growing at a rapid pace but a looming deadline could stall development across the world. The AI diffusion rule, unveiled by Former US President Joe Biden during his last week in Office, restricts the number of AI processors that can be exported to most nations. The rule will be effective on May 15th.
The goal is to ensure that AI development stays concentrated in the US and its close allies. American policymakers want AI data centers and infrastructure built elsewhere to comply with US security standards. If the US government implements the controversial framework, industry experts believe it could disrupt global infrastructure development plans and pose challenges for leading technology companies expanding in foreign markets.
When asked about export controls last week, Nvidia CEO Jensen Huang said that “we should continue to interact with the government,” so that “whatever policy they believe is best, is informed.”
Amid fears of the US taking control of global AI development, senior foreign officials and top tech companies urge the Trump Administration to reassess the semiconductor strategy. They are trying to persuade Trump’s team to ease some regulations before the compliance deadline.
“Left unchanged, the Biden rule will give China a strategic advantage in spreading over time its own AI technology, echoing its rapid ascent in 5G telecommunications a decade ago,” said Microsoft president Brad Smith last month.
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).
A patient viewing their medical diagnosis on a digital healthcare ecosystem.
Spectral AI Inc. (NASDAQ:MDAI)
Number of Hedge Fund Followers: 7
Spectral AI Inc. (NASDAQ:MDAI) is a predictive AI company that leverages its DeepView System for medical diagnostics to provide faster and more accurate treatment in wound care, focusing on patients with burns. The DeepView System is being developed to help clinicians assess the healing potential of a burn wound before treatment at machine speed, reducing healthcare costs and improving patient outcomes.
On March 24th, Spectral AI Inc. (NASDAQ:MDAI) announced closing a debt financing agreement of up to $15 million from Avenue Venture Opportunities Fund II. It also raised $2.7 million of equity financing from investors to accelerate commercialization efforts for its products, including the upcoming launch of the DeepView System in the US.
“This significant financing provides Spectral AI with the resources necessary to finalize our commercialization efforts and bring our cutting-edge DeepView System across the finish line to the U.S. market. We are excited to be working with Avenue Capital and expect the partnership to provide long-term benefits to the Company. This supports our efforts to bring our technology to market and transform the way healthcare providers predict burn wound healing potential and ultimately improve patient outcomes.”
-said J. Michael DiMaio, chairman of the board of directors of Spectral AI Inc.
Overall, MDAI ranks 7th on our list of top AI news updates investors should not miss. While we acknowledge the potential of MDAI 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 MDAI 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.
