Top 10 AI News Updates to Catch Up on This Weekend

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1.  Amazon.com, Inc. (NASDAQ:AMZN)

Number of Hedge Fund Holders: 339

Amazon.com Inc. (NASDAQ:AMZN) is an American technology company offering e-commerce, cloud computing, and other services, including digital streaming and artificial intelligence solutions. On March 14, General Dynamics Information Technology (GDIT), a business unit of General Dynamics, announced that it has expanded its technology partnership with Amazon Web Services (AWS). The two companies will be joining hands to develop cutting-edge cybersecurity, artificial intelligence, cloud migration and modernization solutions to boost digital transformation for defense, intelligence and civilian agencies. AWS will be extending its cloud computing environment to GDIT, while GDIT will leverage its research and development labs to work together with AWS on areas such as quantum, edge computing and high-performance computing.

“GDIT’s collaboration with AWS will advance the modernization and efficiency of our U.S. Federal customers at a critical time of government digital transformation. Our new agreement will deliver AWS’s advanced cloud services, including generative AI solutions with Amazon Bedrock, NOVA, and Q, to federal agencies working on some of America’s most important missions. Together, our companies continue to drive secure, scalable, and cost-effective solutions in defense, intelligence, and citizen services that enhance American AI leadership at home and abroad.”

-David Appel, vice president of U.S. Federal at AWS.

While we acknowledge the potential of AMZN 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 AMZN 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.

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