The Republican-led U.S. Senate voted on Tuesday to end a 10-year ban that stopped states from regulating artificial intelligence models, a plan seemingly supported by Big Tech companies. As per a report from Reuters, lawmakers voted 99-1 to remove the ban from the bill by adopting an amendment offered by Republican Senator Marsha Blackburn.
The vote comes as part of a larger marathon session known as a “vote-a-rama” over the US president’s “big, beautiful bill”, in which lawmakers offered numerous amendments that Republicans eventually hope to pass.
Big tech companies and similar supporters said it was necessary to stop states from making their own confusing rules related to artificial intelligence in order to avoid choking innovation and keep the US from falling behind China.
The only lawmaker who has voted to retain the ban has been Republican Senator Thom Tillis. Meanwhile, Blackburn had presented her amendment to strike the provision a day after agreeing to compromise language with Senate Commerce Committee chair Ted Cruz. This would have cut the ban to five years.
Blackburn then withdrew her support for the compromise before the vote.
“The current language is not acceptable to those who need these protections the most. Until Congress passes federally preemptive legislation like the Kids Online Safety Act and an online privacy framework, we can’t block states from making laws that protect their citizens.”
For this article, we selected AI stocks by going through news articles, stock analysis, and press releases. These stocks are also popular among hedge funds. The hedge fund data is as of Q1 2025.
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10. BigBear.ai Holdings, Inc. (NYSE:BBAI)
Number of Hedge Fund Holders: 17
BigBear.ai Holdings, Inc. (NYSE:BBAI) is one of the 10 Buzzing AI Stocks on Wall Street Right Now. On July 1, H.C. Wainwright analyst Scott Buck raised the price target on the stock to $9 from $6 and kept a “Buy” rating on the shares.
The firm’s buy rating stems from positive momentum exhibited by the stock during the first half of 2025. In particular, shares of BigBear.ai increased 52.6% on the back of new customers and contracts, as well as positive underlying secular trends in AI-driven defense and security.
BigBear.ai has recently won multiple deployments of its biometric software for Enhanced Passenger Processing at airports and ports of entry, a strategic partnership in the UAE, along with a collaboration with Analogic. It has also achieved some balance sheet improvements, offering it the flexibility to pursue potential acquisitions that could further boost revenue growth and profitability.
The firm believes that shares will sustain current momentum as the company executes against its current guidance. Therefore, it recommends investors to continue accumulating a position in lieu of the improving financial results in the second half of 2025 and 2026.
BigBear.ai Holdings, Inc. (NYSE:BBAI) is an artificial intelligence specialist that provides decision intelligence solutions for national security, digital identity, supply chain and logistics, enterprise operations, and manned-unmanned teaming in autonomous systems.
9. Marvell Technology, Inc. (NASDAQ:MRVL)
Number of Hedge Fund Holders: 73
Marvell Technology, Inc. (NASDAQ:MRVL) is one of the 10 Buzzing AI Stocks on Wall Street Right Now. On July 1, Piper Sandler analyst Harsh Kumar reiterated an “Overweight” rating on the stock with an $85.00 price target, citing the company’s XPU growth strategy.
The firm is confident that Marvell’s XPU strategy is on track and will ramp up significantly in the near to mid-term timeframe. It considers Marvell to be one of the two companies that possess intellectual property to service the leading-edge XPU market for hyperscaler customers.
“Growth to be Driven by XPU Proliferation; Last week, we had the opportunity to host management meetings with MRVL. We came away reaffirmed that the growth strategy for the company related to their XPU strategy is on track and is set to ramp significantly in the near to mid-term time frame. In our view, MRVL is one of only two companies that holds the necessary IP to service the leading-edge XPU market for hyperscaler customers, and we continue to believe this market will continue to be resilient as hyperscaler spend remains strong. Below are our key takeaways from the meetings.”
Marvell Technology, Inc. (NASDAQ:MRVL) engages in the development and production of semiconductors, focusing heavily on data centers.
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