We recently compiled a list of the 10 AI News Stories That Are Dominating Headlines. In this article, we are going to take a look at where VCI Global Limited (NASDAQ:VCIG) stands against the other AI stocks.
Grok 3, xAI’s chatbot and ChatGPT challenger is in its final stages of development, reported Elon Musk on Thursday. The chatbot is reportedly going to be released in a week or two. Speaking at the Dubai World Governments Summit, Musk said that the chatbot outperforms all others in the market.
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“Grok 3 has very powerful reasoning capabilities, so in the tests that we’ve done thus far, Grok 3 is outperforming anything that’s been released, that we’re aware of, so that’s a good sign”.
-Elon Musk
Musk had founded xAI as a rival to ChatGPT after he left OpenAI back in 2018. When Emirati State Minister for AI Omar Sultan Al Olama asked what to expect from the upcoming Grok 3 model, Musk bragged that it was “scary smart” with “very powerful reasoning capabilities.”
A few days back, a consortium of investors led by Musk said it had offered $97.4 billion to buy the nonprofit that controls OpenAI. The move marked an attempt by the billionaire to stop OpenAI from becoming a for-profit company. He had even sued CEO Sam Altman and others in August, asking a U.S. district judge to block OpenAI’s attempt to transition to a for-profit entity.
“I think the evidence is there in that OpenAI has gotten this far while having at least a sort of dual profit, non-profit role. What they’re trying to do now is to completely delete the non-profit, and that seems really going too far.”
Musk may be bragging that his chatbot is superior to others, but Benjamin De Kraker, who worked on the human data team for Grok development, has differing opinions on the top AI models for code. According to De Kraker, OpenAI’s o1-pro, o1, and o3-mini are all tied for the top spot, while the unreleased Grok 3 is in fourth position. Only time will tell who is right.
For this article, we selected AI stocks by going through news articles, stock analysis, and press releases. These stocks are also popular among hedge funds.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).
A scientist at a computer station, surrounded by a neural network of artificial intelligence code.
VCI Global Limited (NASDAQ:VCIG)
Number of Hedge Fund Holders: 1
VCI Global Limited (NASDAQ:VCIG) is a leading provider of AI-driven enterprise solutions. On February 12, the company announced that it had secured a US$12 million contract through its subsidiary, VC AI Limited (“VC.AI” or the “Company”), with Malaysian-based marketing and data solutions agency Datanex Sdn Bhd. The partnership will allow VC.AI to support Datanex in enhancing and expanding its services through AI-driven solutions and custom-built programs. Using AI-powered tools, clients will be able to implement their marketing campaigns so that they can target high-potential leads, optimize ad spend, and even refine targeting strategies for enhanced engagement and conversions. VC.AI will also be able to reinforce its position in the AI solutions market through the contract, expand its client base, and drive digital transformation.
“This partnership marked a significant step for VCI Global, reinforcing the expertise of our subsidiary, VC.AI, in AI-powered digital solutions and positioning us as a leader in the industry. We are excited to work with Datanex to drive innovation in digital marketing and continue helping businesses use technology to grow and evolve. Together, we believe we can make a real impact on the future of marketing and deliver valuable solutions to our clients”.
-Dato’ Victor Hoo, Group Executive Chairman and Chief Executive Officer of VCI Global.
Overall VCIG ranks 8th on our list of the AI stocks that are dominating headlines. While we acknowledge the potential of VCIG 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 timeframe. If you are looking for an AI stock that is more promising than VCIG but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.
