12 AI Stocks Making Waves on Wall Street

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2. Alphabet Inc. (NASDAQ:GOOGL)

Number of Hedge Fund Holders: 243

Alphabet Inc. (NASDAQ:GOOGL) is one of the 12 AI Stocks Making Waves on Wall Street. On December 16, BMO Capital raised its price target on the stock to $343.00 from $340.00 while maintaining an “Outperform” rating.

The firm remains confident in Google Cloud’s acceleration and long-term AI monetization following cloud-focused expert calls with former AWS employees.

One of the AWS employees holds direct visibility into $4.7B+ of annual cloud spending, the firm noted.  Following these positive checks, it raised its growth estimates for Google Cloud to 39%/40% growth from previous projections of 38%.

BMO highlighted four key takeaways for the stock. These include expanding cloud commitments, AI agents supporting cloud commitments, Claude emerging as a preferred model among developers, and enterprise AI applications scaling in 2027.

“Key Takeaways: 1) Accelerating cloud commitments; 2) Agents supporting incremental cloud commitments; 3) Claude: The developer model of choice; 4) Enterprise AI apps to scale in 2027E. Reiterate Outperform and Top Pick; Raise Estimates and Target Price to $343 from $340.”

Alphabet Inc. (NASDAQ:GOOGL) is an American multinational technology conglomerate holding company wholly owning the internet giant Google, amongst other businesses.

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