Top 12 AI Stocks Dominating the Market Right Now

Page 7 of 11

5. Alibaba Group Holding Limited (NYSE:BABA)

Number of Hedge Fund Holders: 115

Alibaba Group Holding Limited (NYSE:BABA) is an online retailer that leverages AI in its e-commerce business. On February 11, The Information reported that Apple is teaming up with Alibaba to roll out artificial intelligence features for iPhone users in China. Last year, Apple had selected Baidu as its main partner, but Baidu’s progress in developing models for Apple Intelligence fell short of standards. According to the report, both companies have submitted the Chinese AI features that they co-developed for approval by China’s cyberspace regulator. These tools are crucial for Apple to bring its AI services to China considering sales for the iPhones dipped in the holiday quarter due to a lack of AI features available. The Information stated that Apple has chosen Alibaba for this partnership partly because of the massive personal database the e-commerce giant has on users’ shopping and payment habits. This data could potentially help Apple train models and deliver more customized services.

Page 7 of 11