Stay Ahead: 9 Key AI News Updates You Need to See

5. Okta, Inc. (NASDAQ:OKTA)

Number of Hedge Fund Holders: 47

Okta Inc. (NASDAQ:OKTA) is a technology company that offers Okta’s suite of products and services used to manage and secure identities, such as Single Sign-On, which enables users to access applications in the cloud or on-premises from various devices. The stock has started the year on a roll, rallying by more than 20% as investors take note of the tremendous opportunity up for grabs with the integration of AI-driven features across the company’s Customer Identity Cloud and Workplace Identity Cloud.

The integration of AI features was the catalyst behind the company inking a strategic partnership with the McLaren Formula 1 team on January 28th. While the strategic partnership expands Okta Inc.’s (NASDAQ:OKTA) client base, it also allows the McLaren racing team to leverage AI-powered AI-powered tools to improve its apps and platforms. In order to help McLaren Racing run more safely and effectively, Okta will help the team further simplify its digital infrastructure and enhance security features.