We recently compiled a list of 30 AI news that investors should miss. In this article, we’ll take a look at how Applied Materials (NASDAQ:AMAT) stands compared to other AI stocks.
Artificial intelligence (AI) data centers are one of the hottest topics on Wall Street, as companies across industries race to implement AI technology into their operations. The latest update comes from data center company Equinix, which recently entered into a joint venture with Singapore-based sovereign wealth fund GIC and Canada Pension Plan Investment Board to raise more than $15 billion in capital. announced the establishment of a business. The data center company said the capital will be used to expand its hyperscale data center footprint in the United States. Hyperscale data centers are the industry’s largest, typically developed by U.S.-based technology giants, offer massive network capacity, and often consume as much power as a large city or small country.
To learn more about these trends, visit 33 Most Important AI Companies to Watch and 20 Industrial Stocks Already Riding the AI Wave.
News from the U.S. Commerce Department further encouraged investors as tech stocks stage a resurgence on the back of Fed interest rate cuts and optimism about AI. Earlier this week, the U.S. government announced plans to award nearly $100 million to accelerate the use of artificial intelligence in the development of new sustainable semiconductor materials. The funding is part of more than $52 billion in U.S. chip manufacturing and research funding promised by U.S. President Joe Biden. The funding will be used to support universities, national laboratories and the private sector to develop AI-powered autonomous experiments for sustainable semiconductor manufacturing. The goal is to reduce the time needed to develop new semiconductor materials that consume fewer resources.
To learn more about these developments, visit BlackRock’s 30 Most Important AI Stocks and Beyond the Tech Giants: 35 Non-Technology AI Opportunities.
our methodology
In this article, we selected AI stocks by examining news articles, stock analysis, and press releases. These stocks are also popular among hedge funds.
Why are we interested in stocks that hedge funds invest in? The reason is simple. Our research shows that by mimicking the top stock picks of the best hedge funds, you can outperform the market. Our quarterly newsletter strategy selects 14 small- and large-cap stocks each quarter and has returned 275% since May 2014, outperforming the benchmark by 150 percentage points (Learn more ).
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Technician assembling semiconductor chips using a microscope in a clean room.
Applied Materials, Inc. (NASDAQ:AMAT)
Number of hedge fund holders: 77 people
Applied Materials, Inc. (NASDAQ:AMAT) provides equipment, services and software to the semiconductor industry. According to the latest reports from Indian news publications, the company is preparing to set up a research and development facility in Bengaluru and is awaiting approval from the Karnataka state government in the region. The report was released during the visit of India’s Minister of Industry and Infrastructure Development MB Patil to the United States, where he discussed setting up an innovation center in the Asian country with Applied Materials executives. Applied Materials (NASDAQ:AMAT) has committed to investing nearly $400 million in India over the next four years to set up an engineering center in Bangalore as well.
AMAT ranks 18th overall on our list of AI stocks that investors can’t afford to miss. While we appreciate AMAT’s potential as an investment, we believe that some AI stocks have a better chance of delivering higher returns over shorter time periods. If you’re looking for AI stocks that are more promising than AMAT but trade at less than 5x earnings, check out our report on the cheapest AI stocks.
Read next: $30 trillion opportunity: 15 humanoid robot stocks to buy, according to Morgan Stanley and Jim Cramer, says NVIDIA has ‘become a wasteland.’
Disclosure: None. This article was originally published on Insider Monkey.
