Top 10 AI News Updates Analysts are Monitoring

2. Zoom Video Communications, Inc. (NASDAQ:ZM)

Number of Hedge Fund Holders: 48

Zoom Video Communications, Inc. (NASDAQ:ZM) is an AI-first work platform for human connection. It offers Zoom Meetings with HD video, voice, chat, and content sharing. The company is increasingly investing in AI, going by Zoom AI Companion, a virtual assistant within the Zoom platform, helping users summarize meetings and draft emails.

Zoom Video Communications, Inc. (NASDAQ:ZM) delivered solid fourth quarter and full year 2024 results on February 24, showing modest growth as AI monetization takes shape. Revenue in the quarter was up 3% year over year to $1.18 billion, as full-year revenue increased 3.1% to $4.66 billion. The robust growth came as Zoom AI Companion accelerated Zoom Communications’ transformation into an AI-first company.

CEO Eric Yuan highlighted the company’s shift to an AI-first platform and reported a 68% increase in AI Companion users from quarter to quarter. Zoom plans to make money from its AI solutions by automating office tasks and integrating with other technologies, which will streamline procedures. Zoom plans to launch Custom AI Companion add-ons in April 2025.