We recently published a list of 10 AI News Making Waves on Wall Street. In this article, we are going to take a look at where monday.com Ltd. (NASDAQ:MNDY) stands against other AI news making waves on Wall Street.
OpenAI has previously been dependent on Nvidia for its chip supply, but it looks like it may not be for long. As reported by Reuters, the artificial intelligence startup is all set to develop its first generation of in-house artificial intelligence silicon.
According to sources, the startup is finalizing the design for its first in-house chip in the next few months. It then plans to send it for fabrication at Taiwan Semiconductor Manufacturing Co in a “taping out” process.
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This training-focused chip will be used as a strategic tool to strengthen OpenAI’s negotiating leverage with other chip suppliers. If all goes smoothly, the company will be able to mass-produce its first in-house AI chip and potentially test an alternative later this year.
Meanwhile, big tech companies have struggled to produce satisfactory chips over the years. Nevertheless, DeepSeek has raised questions about whether fewer chips will be needed in developing powerful models in the future.
Google DeepMind boss Demis Hassabis has recently dismissed DeepSeek’s claims that its popular chatbot and AI model is using far less money than US rivals.
DeepSeek “seems to have only reported the cost of the final training round, which is a fraction of the total cost.”
– Hassabis told Bloomberg Television
He also stated that DeepSeek’s emergence doesn’t upend the economics of AI development.
“We don’t see any new silver bullet technologies. DeepSeek is not an outlier on the efficiency curve.”
-Hassabis said at the Artificial Intelligence Action Summit.
The Chinese startup has reportedly spent around $5.6 million on computing costs to train its models. OpenAI and Microsoft are currently investigating these claims, searching if anyone tied to DeepSeek has obtained data from OpenAI through a process known as distillation.
According to Hassabis, DeepSeek seems “to have relied on some Western models to distill from”.
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.
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Software engineers collaborating on a project while seated in a shared workspace.
monday.com Ltd. (NASDAQ:MNDY)
Number of Hedge Fund Holders: 49
monday.com Ltd. (NASDAQ:MNDY) develops software applications globally, offering a cloud-based Work OS for creating work management tools. On February 10, the company reported financial results for its fourth quarter and fiscal year ended December 31, 2024. Not only did the company report better-than-expected results, but it also gave solid guidance as the firm’s artificial intelligence (AI) solutions helped boost demand. For fiscal fourth-quarter 2024, the company reported a revenue growth of 32% year-on-year to $268 million, beating the analyst consensus estimate of $261.37 million. Meanwhile, its adjusted EPS of $1.08 beat the analyst consensus estimate of $0.79. For full year 2025, the company has predicted revenue of $1.208 billion to $1.221 billion, with the midpoint above estimates of $1.208 billion.
“2024 was a remarkable year for monday.com, reflecting our rapid product innovation and focus on go-to-market execution, driving strong demand across customers of all sizes. We are proud to have further expanded our product suite with monday service, which is already seeing rapid adoption from both existing and new customers. As we look to 2025, we are excited to double-down on our AI efforts, with a focus on AI Blocks, Product Power-ups, and our new Digital Workforce of AI Agents. We believe AI can be a game-changer for our customers, giving them the ability to transform their workflows and scale faster than ever before.”
-monday.com co-founders and co-CEOs, Roy Mann and Eran Zinman.
Overall, MNDY ranks 9th on our list of AI news making waves on Wall Street. While we acknowledge the potential of MNDY 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 MNDY 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.