Top 10 AI Stocks on Wall Street’s Radar

5. NetApp, Inc. (NASDAQ:NTAP)

Number of Hedge Fund Holders: 38

NetApp, Inc. (NASDAQ:NTAP) provides storage and data management solutions, with a particular focus on hybrid cloud environments, AI-driven data storage, cloud integration, and data services. On January 15, NetApp Inc. revealed that it has agreed to sell a portfolio of cloud software assets to Flexera, the global leader in technology spend and risk management. NetApp will be divesting its “Spot” by NetApp FinOps business to Flexera which it acquired back in July 2020. According to Bloomberg, the move is said to streamline its business and strengthen its core operations. Meanwhile, it is also going to ensure that the Spot business can scale effectively within Flexera’s ecosystem, allowing NetApp to focus on its core areas of expertise.

“This decision reflects NetApp’s sharpened focus and underscores our commitment to intelligent data infrastructure and long-term growth opportunities. After a thorough evaluation, it is clear that Flexera’s established expertise and global reach provide the ideal environment for the Spot business to thrive and scale. This move not only allows the Spot team and portfolio to unlock their full potential within Flexera’s ecosystem but also reinforces our dedication to driving value creation and achieving our ambitious growth objectives.”

-Haiyan Song, Executive Vice President, Intelligent Operations Services, at NetApp.