We recently compiled the following list. 20 AI news that investors can’t miss.In this article, we’ll take a look at how Arm Holdings plc (NASDAQ:ARM) stands against other AI stocks you shouldn’t miss.
2024 will be a big year for AI breakthroughs, and it shows no signs of slowing down anytime soon. Generative AI is definitely the biggest trend. McKinsey Based on the 63 use cases they analyzed, they estimate that the industry as a whole could add between $2.6 trillion and $4.4 trillion worth of value annually. When OpenAI released its free web app ChatGPT in 2022, few could have predicted the scale of the AI revolution that would follow. Big tech giants have since followed suit, announcing their own chatbot-based assistants and AI-enabled phones.
Also read: 15 AI News Investors Can’t Miss and 20 AI Trending Stocks with Latest News and Ratings
As AI continues to revolutionize industries and push the limits of technology to new heights, today’s headlines reveal just how impactful these advances will be. The question now is, given these major AI advances, have regulators finally caught up with developers working on the next big AI project? Yahoo Finance catalyst Featuring an interview with Navrina Singh, founder and CEO of Credo AI, who talks about the valuation of AI companies, the sustainability of their growth, and the potential risks they may pose. Credo AI is an AI governance platform that streams responsible AI deployment and monitoring automation.
Singh said that while AI developers may see governance as “speeding up innovation,” companies that embark on emerging technologies like artificial intelligence with the right guardrails in place will ultimately ” It will be a long-term winner. Regardless of how long it takes for governance to fully catch up, the AI craze continues to intensify. In recent news, the world’s largest asset management firm, led by Larry Fink, launched a new exchange-traded fund focused on AI on Tuesday, October 22nd.
Tony Kim, head of the Fundamental Equity Technology Group, believes that AI is a growing opportunity. The ETF will hold a concentrated portfolio of about 30 to 40 stocks, with more being added as new winners emerge. According to Kim, the whole concept of the portfolio is to embody the concepts of time and stack. That said, even though the AI trade has lost some momentum, planning and spending on advanced AI aimed at enabling artificial general intelligence (AGI) has made the portfolio highly relevant. Masu.
“Most of these technology companies are competing for AGI. People have different views on AGI and when it happens and how much it costs, but it goes far beyond that. It costs an order of magnitude more. And it takes even more time. [money]it takes that long. ”
That said, many of the potential winners of the AI revolution may not yet have attracted investor attention or even gone public. Consider Daze. A creative messaging application powered by AI. Although the application has not yet been released, it has already shown potential to compete with major platforms once it hits the market. Before its release, the app’s waiting list was already filled with around 156,000 sign-ups (and growing).
The Daze app’s momentum parallels broader technological advances, including New York-based startup Near Space Labs’ launch of Swifts, an AI-powered robotic camera that flies in a weather balloon. It’s happening. The technology aims to assess property risks and climate-related disasters and help insurance companies pay out claims within days rather than weeks or months.
In other news, Jeff Bezos-backed Perplexity AI has begun talks to raise funding with the aim of doubling its valuation to more than $8 billion, according to the Wall Street Journal. . Perplexity AI is an AI-powered research and conversational search engine that uses natural language predictive text to answer queries. Recently, the search engine has faced numerous lawsuits from companies including Dow Jones and the New York Post for illegally using copyrighted content. Publishers say these bypasses deprive them of advertising and subscription revenue and hurt journalists’ jobs. Perplexity AI has launched revenue sharing programs with some publishers, but many are still pushing back and seeking legal protection for their content.
In this article, we selected AI stocks by examining news articles, stock analysis, and press releases. These stocks are also popular among hedge funds.
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A top view of the arrangement of semiconductor chips and electronic components.
Number of hedge fund holders: 38 people
Arm Holdings plc (NASDAQ:ARM) is a semiconductor and software design company that designs and manufactures semiconductor technology and other related products. The company has demonstrated leadership in mobile and AI technology with products such as the Axion processor, Ethos-U85, and Windows on Arm. The company’s chips are used in conjunction with GPUs in data centers to enable on-device AI capabilities in smartphones.
On October 23, Bloomberg reported that Arm Holdings plc (NASDAQ:ARM) will cancel its chip design license with Qualcomm. The design allowed long-time partner Qualcomm to use Arm’s intellectual property to design the chip. The move will affect most smartphone makers that use Qualcomm chips.
Arm Holdings plc (NASDAQ:ARM) has required Qualcomm to give it 60 days’ notice to terminate an architecture licensing agreement that previously allowed Arm to manufacture chips based on standards it owns. The move marks an escalation in a legal battle that began in 2022 when Arm sued Qualcomm for breach of contract and trademark misuse. The company has now given Qualcomm eight weeks to resolve the issue before taking further action.
Arm said it was “necessary to protect the unparalleled ecosystem that Arm and our valued partners have built over more than 30 years.” In response, a Qualcomm spokesperson said these were “baseless threats designed to forcefully attack our long-time partner and increase royalty rates.” This “appears to be an attempt to obstruct the legal process, and the dismissal claims are entirely baseless. Arm’s anti-competitive conduct will not be tolerated.”
The companies are currently working to resolve a breach of contract lawsuit brought by Arm and a counterclaim by Qualcomm. The issue centers on the latter’s 2021 acquisition of Nuvia, another Arm licensee, and Arm’s claims that Qualcomm failed to renegotiate the terms of the agreement. Qualcomm, on the other hand, claims that its existing contract covers Nuvia’s activities. Nuvia’s work on microprocessor design is important for personal computer chips sold by Qualcomm and the widely used Snapdragon chips for smartphones.
Entire ARM 14th place It’s on our list of AI stocks you can’t miss. While we acknowledge ARM’s potential as an investment, we believe that some AI stocks are more likely to deliver higher returns and do so in a shorter period of time. If you’re looking for AI stocks that have better prospects than ARM but trade at less than 5x earnings, check out our report. cheapest AI stocks.
Read next:8 Best Wide Moat Stocks to Buy Right Now and The 30 Most Important AI Stocks by BlackRock.
Disclosure: None. This article was originally published on Insider Monkey.
