10 AI Stocks Making Waves on Wall Street

3. Alphabet Inc. (NASDAQ:GOOGL)

Number of Hedge Fund Holders: 234

Alphabet Inc. (NASDAQ:GOOG) is an American multinational technology conglomerate holding company wholly owning the internet giant Google, amongst other businesses. On February 28, fresh comments from the U.K. watchdog Competition and Markets Authority (CMA) probe into Alphabet’s (GOOGL) were released. The company is being investigated by the UK competition watchdog over the impact of its search and advertising practices on news publishers, consumers, businesses and competing search engines. Comments on search dominance for Google have been mixed, with some supporting the engine and others viewing it as a problem.

According to Yale University Professor Fiona Scott Morton, “Google holds a monopoly in general search that is overwhelming and durable.” Consequently, Samsung responded by saying that the CMA’s potential intervention is possibly going to have a significant effect on it and other original equipment manufacturers as well as challenger browsers. The CMA will be using these responses to determine whether Google’s search and advertising search businesses need to come under the scope of the DMCC and whether it must adjust its practices. These include Google requiring to make the data it collects available to other businesses, allowing more control to publishers over how their data is used, including in Google’s artificial intelligence services.