We recently published a list of 15 Trending AI Stocks on Latest News and Notes. In this article, we’ll take a look at where Analog Devices, Inc. (NASDAQ:ADI) stands in relation to other trending AI stocks on the latest news and notes.
When BlackRock, the investment titan with more than $10 trillion in assets under management, invests in something, the financial world pays close attention. This is why Pyramid Analytics, an AI business analytics company, has been in the news. According to a report by news agency Reuters, the startup recently raised over $50 million from the investment management company. Pyramid Analytics operates an AI-powered platform that uses a combination of machine learning and AI to simplify processes and data analysis for clients. Among the startup’s main clients are the U.S. Food and Drug Administration, as well as Hallmark, Deloitte and Volkswagen.
Learn more about these developments by accessing 10 Best AI Data Center Stocks And 10 Hot AI Stocks According to Goldman Sachs.
Meanwhile, AI markets in Europe were brimming with excitement following the successful debut of LightOn, a France-based GenAI startup, on the Euronext Growth market in Paris. The company’s shares jumped nearly 10% in the IPO. The startup builds large language models for companies and institutions. It was valued at around $65 million at the IPO. AI startups have achieved sky-high valuations in their market debuts. They have also raised hundreds of millions of dollars through funding rounds led by venture capital firms, as the AI boom sweeps markets around the world.
ALSO READ: Beyond Tech Giants: 35 Non-Tech AI Opportunities.
For this article, we selected AI stocks by combing through news articles, stock market analyzes and press releases. These stocks are also popular among hedge funds. Why are we interested in stocks that hedge funds are piling into? The reason is simple: our research has shown that we can outperform the market by imitating the stocks selected by the best hedge funds. Our quarterly newsletter strategy selects 14 small- and large-cap stocks each quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).
A technician working on energy management in a semiconductor factory.
Number of hedge fund holders: 63
Analog Devices, Inc. (NASDAQ: ADI) designs, manufactures, tests and markets integrated circuits (ICs), software and subsystems. The company recently reported fiscal fourth-quarter earnings of $1.67 per share, beating market estimates by $0.03. Revenue for the period was $2.44 billion, down more than 10% from revenue in the same period last year, but exceeding market expectations a cool $30 million.
