We recently compiled a list of the Top 8 AI News Updates Investors Shouldn’t Miss. In this article, we are going to take a look at where TD Synnex Corporation (NYSE:SNX) stands against the other AI stocks.
On March 19th, the stock market bounced back after the US Federal Reserve kept interest rates unchanged at 4.25% to 4.5%. The Fed also anticipated two rate cuts this year despite elevated inflation. The S&P 500 index was up over 1%, while the Nasdaq Composite jumped by well over 200 points. The rally was led by the magnificent seven stocks after weeks of market declines amid trade wars and disappointing economic data.
Elsewhere, AI continues to transform industries and individual lives, from AI nurses reshaping hospital care to schools reporting that students are learning faster and more effectively with AI.
Furthermore, AngelList CEO Avlok Kohli claimed that all software companies are AI companies now.
“The enthusiasm into AI actually carries over into everything, which effectively impacts all startups,” said Kohli when asked if investors are as excited about emerging startups outside of AI.
Meanwhile, security risks surrounding AI continue to loom. Computer scientist and AI pioneer Fei-Fei Li co-authored a report suggesting that lawmakers should consider AI risks that “have not yet been observed in the world” when devising AI regulations. The report highlighted that the novel risks posed by AI could require legislation that compels AI developers to publicly report their safety tests and security protocols.
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).
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TD Synnex Corporation (NYSE:SNX)
Number of Hedge Fund Followers: 33
TD Synnex Corporation (NYSE:SNX) is a leading global technology distributor and a solutions aggregator for the IT ecosystem. The company has been increasingly offering AI services and resources to partners via its growing “Destination AI” program.
On March 18th, TD Synnex Corp.’s (NYSE:SNX) subsidiary, Hyve Solutions Corp, a top provider of hyperscale digital infrastructures, announced it would showcase its latest AI infrastructure portfolio at the GTC 2025 between March 17th and 21st. The company’s end-to-end AI lifecycle solutions around AI design and manufacturing, scalable architecture for enhanced GPU communications, advanced testing, and next-gen AI-optimized, build-to-order racks for high-performance computing are designed to support AI deployments across data center, hybrid cloud and edge environments.
“Hyve Solutions is committed to advancing AI infrastructure for hyperscalers, cloud service providers, and high-performance computing segments. Our solutions are designed to support the scalability and efficiency required for next-generation AI deployments, backed by our strategic collaboration with NVIDIA and our robust global manufacturing and deployment capabilities.”
-said Steve Ichinaga, President of Hyve Solutions.
Overall, SNX ranks 5th on our list of top AI news updates investors shouldn’t miss. While we acknowledge the potential of SNX 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 SNX 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.
