We recently published a list of 14 AI News Updates Wall Street Is Watching. In this article, we’ll take a look at where Rubrik, Inc. (NYSE: RBRK) stacks up against the other AI updates Wall Street is watching.
Just days after Donald Trump won a hotly contested election for the top job in the United States, Elon Musk, one of his most prominent supporters, received another piece of good news as xAI, the startup of IA, which he founded in 2023, raised $5 billion in funding. round. The latest fundraising brought the startup’s valuation to more than $50 billion. The Wall Street Journal reported that Valor Equity Partners, Sequoia Capital and Andreessen Horowitz were part of the raise, while Qatar’s sovereign wealth fund also participated in the financing process. This set of investors had also backed the startup with $6 billion in funding earlier this year.
Learn more about these developments by accessing 10 Best AI Data Center Stocks And 10 Hot AI Stocks According to Goldman Sachs.
xAI developed Grok, one of the world’s leading AI chatbots. It rivals the performance of chatbots from technological powers with much greater resources. The company also controls Colossus, one of the most powerful supercomputers in the world. The supercomputer will become fully operational by the end of this year, and Musk plans to expand the hardware at the center of that effort to 200,000 GPUs. Last year, the startup also released PromptIDE, an integrated development environment designed for rapid engineering and interpretability research.
ALSO READ: 30 The Most Important AI Stocks According to BlackRock And Beyond Tech Giants: 35 Non-Tech AI Opportunities.
For this article, we selected AI stocks by combing through news articles, stock 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).
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Number of hedge fund holders: 23
Rubrik, Inc. (NYSE:RBRK) provides data security solutions to individuals and businesses around the world. The company’s cybersecurity platform uses AI and machine learning to monitor threats and provide sophisticated data recovery. On November 20, Barclays raised the stock’s price target from $42 to $51 and maintained an overweight on the stock ahead of the December 5 earnings release. The advisory believes the shared setup is strong given positive dealer data and industry feedback. and improving the annual recurring revenue contribution margin.
