Top 8 Must-See AI News Updates Investors Should Not Miss

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1. Arista Networks Inc. (NYSE:ANET)

Number of Hedge Fund Holders: 70

Arista Networks Inc. (NYSE:ANET) designs and sells client-to-cloud networking solutions, including an advanced network operating system, the CloudVision platform, and Cognitive Wi-Fi to large AI, data center, routing environments and Campus markets.

On February 18th, the company announced a 19.5% YoY increase in revenue to over $7 billion for the full year 2024 as its growing cash flow and robust balance sheet allowed consistent investments in strategic initiatives like AI and Campus markets. In Q4, Arista Networks Inc.’s (NYSE:ANET) revenue increased 6.6% YoY to $1.93 billion as non-GAAP net income surged to $830.1 million or $0.65 per diluted share from $0.52. Last quarter, the company said that Meta Platform (NASDAQ:META) also deployed the Arista 7700R4 Distributed Etherlink Switch for its latest Ethernet-based AI cluster. For Q1 2025, Arista Networks Inc. (NYSE:ANET) forecast revenue between $1.93 billion and $1.97 billion.

“2024 was a remarkable year of momentum resulting in a record $7 billion in revenue. I am so proud of the team’s execution in delivering the ultimate combination of superior growth and profitability. We continued to innovate for our customers with best-of-breed platforms enabling AI for networking and networking for AI.”

-said Jayshree Ullal, Chairperson and CEO of Arista Networks Inc.

While we acknowledge the potential of Arista Networks Inc. (NYSE:ANET) as an investment, our conviction lies in the belief that 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 ANET but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stock To Buy Now and Complete List of All AI Companies Under $2 Billion Market Cap.

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