Top 8 AI News Updates Driving Markets Today

5. Faraday Future Intelligent Electric Inc. (NASDAQ:FFAI)

Number of Hedge Fund Holders: 7

Faraday Future Intelligent Electric Inc. (NASDAQ:FFAI) uses AI and a proprietary variable platform architecture to design, manufacture, and market “TechLuxury” electric vehicles. The company also develops autonomous driving and intelligence systems within its intelligent mobility ecosystem.

On March 24th, Faraday Future Intelligent Electric Inc. (NASDAQ:FFAI) announced securing $41 million in new cash financing commitments that will help it speed up R&D and AI development, advance the FX brand, and execute strategic projects to launch the first FX vehicle by 2025-end. The company added that the net proceeds will help it advance research and testing of autonomous driving capabilities, improve AI talent acquisition efforts, and accelerate infrastructure building.

“This new round of funding lays a solid foundation for not only FF but also our new FX brand as it continues to make important milestones in market strategy and in product development. I am optimistic about the opportunities that this new funding will bring, including supporting the ongoing production of our FF 91 2.0 and the growth of the FX brand in 2025.”

-said Matthias Aydt, Global CEO of FF.