We recently published a list of 10 AI News Updates You Should Not Miss. In this article, we are going to take a look at where Wearable Devices Ltd. (NASDAQ:WLDS) stands against other AI news updates you should not miss.
Europe is putting itself on the artificial map with France and the United Arab Emirates having agreed to a framework accord for a 1 gigawatt data center dedicated to artificial intelligence. The French presidency said in a statement that the center will be the core of a new AI “campus” and will have up to 1 gigawatt of capacity, “which represents investments of 30 to 50 billion euros”.
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The move is said to be a part of a larger AI agreement signed between French President Emmanuel Macron and his UAE counterpart Sheikh Mohamed bin Zayed Al Nahyan in Paris. President Emmanuel Macron hosted his Emirati counterpart on Thursday.
“The two leaders expressed their desire to create a strategic partnership in the field of AI and committed to exploring collaborations on projects and investments supporting the development of the AI value chain”.
-A joint Franco-Emirati statement.
According to the leaders, the investments would go into both French and Emirati AI and would include buying advanced chips, building data centers, talent development, and establishing virtual data embassies to secure AI and cloud systems in both countries.
France is also going to be hosting the Artificial Intelligence (AI) Action Summit at the Grand Palais on February 10-11, 2025. The country has deemed the summit a “wake-up call” for Europe in the global race for AI.
“The summit comes at exactly the right time for this wake-up call for France and Europe, and to show we are in position” to take advantage of the technology, an official in Macron’s office told reporters.
Attendees at the summit will include Sam Altman, head of OpenAI, Google CEO Sundar Pichai, and Nobel Prize winner Demis Hassabis, who leads the company’s DeepMind AI research unit, amongst many other industry leaders, government officials, and similar figures from around the world.
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 person wearing augmented reality glasses experiencing a virtual reality world.
Wearable Devices Ltd. (NASDAQ:WLDS)
Number of Hedge Fund Holders: 3
Wearable Devices Ltd. (NASDAQ:WLDS) is an award-winning pioneer in artificial intelligence (“AI”)-based wearable gesture control technology. On February 7, the company announced that it achieved a groundbreaking advancement in human-computer interaction: Large MUAP Models (“LMM”). Large MUAP Models are AI-powered neural gesture technology that enables personalized, intuitive interactions for the AI and XR era. Albeit still in development, this technology holds the potential to redefine human-device interaction. LMMs work by tapping on big data to enable devices to understand and predict user intentions. This is done with record speed and precision, allowing interactions to be faster and more intuitive than before. LMMs will provide the intuitive, natural interactions needed to interact seamlessly with digital environments, and will have the potential to enhance the company’s products. Once developed, the company also plans on collaborating with leading companies to integrate these LMMs into next-generation extended reality (XR) platforms as well.
“With LMMs, we are decoding the neural alphabet, potentially unlocking a strategically vital technology that fuses human neurology with AI. This breakthrough has the potential to create sci-fi-like superhuman abilities, giving a fundamental edge to whoever masters it first”.
-Guy Wagner, Chief Scientific Officer of Wearable Devices.
Overall, WLDS ranks 10th on our list of AI news updates you should not miss. While we acknowledge the potential of WLDS 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 time frame. If you are looking for an AI stock that is more promising than WLDS 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.
