11 Trending AI Stocks on Latest News and Ratings

Page 9 of 9

1. Snowflake Inc. (NYSE:SNOW)

Number of Hedge Fund Holders: 85

Snowflake Inc. (NYSE:SNOW) is a software application company that offers a cloud data warehouse platform that allows users to store, analyze, and share data. The company also provides AI powered solutions that simplify unstructured data processing. On February 27, Snowflake moved to deepen its investments in AI innovation with the opening of a Silicon Valley AI hub.

The AI hub will offer solutions that enable developers, startups and business leaders to deepen relationships and shape the future of AI. At a time when the majority of cloud providers continue to operate primarily virtually, the Silicon Valley AI Hub creates a physical hub for AI innovation. This 30,000-square-foot facility accomplishes several strategic goals, including placing the company at the hub of Silicon Valley’s AI talent ecosystem and showcasing its AI capabilities.

Snowflake plans to invest up to $200M in next-gen startups through its AI Data Cloud via the Snowflake Startup Accelerator Program with leading VCs and commits $20M toward AI upskilling, supporting over 4,000 customers with AI/ML capabilities.

Snowflake Inc. (NYSE:SNOW) is presenting itself as a solution to the governance-innovation tradeoff that has impeded enterprise AI adoption by delivering AI capabilities straight to governed data instead of requiring data movement.

“Snowflake is the most consequential data and AI company in the world today,” said Sridhar Ramaswamy, CEO of Snowflake. “Our technology is already at the heart of customers’ data and AI strategies, and now, we are taking it a step further by creating a physical space for people shaping the future of AI to connect, learn, and work.

While we acknowledge the potential of Snowflake Inc. (NYSE:SNOW) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than SNOW but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap.

Disclosure: None. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below.

Page 9 of 9