12 AI Stocks Making Waves on Wall Street Today

Page 11 of 11

1. Amazon.com, Inc. (NASDAQ:AMZN)

Number of Hedge Fund Holders: 339

Amazon.com Inc. (NASDAQ:AMZN) is an American technology company offering e-commerce, cloud computing, and other services, including digital streaming and artificial intelligence solutions. On May 20, Amazon Web Services, Inc. and SAP announced a new AI Co-Innovation program to help partners develop generative artificial intelligence applications and agents tailored to their ERP workloads. Announced at the SAP Sapphire event, the collaboration will allow combining advanced generative AI technologies with enterprise resource planning (ERP) data from critical systems to solve real-time business challenges such as optimizing delivery routes and predicting potential impacts to supply chain operations.

“AWS and SAP’s long-standing partnership has helped customers accelerate their cloud journey and unlock more value from their business data. Our AI Co-Innovation Program is a significant next step that will give organizations the security and flexibility to build generative AI applications with Amazon Bedrock that can analyze and act on their most critical SAP data. This will help customers transform decades of business information into actionable insights while accelerating their path to becoming more agile, data-driven organizations.”

-Ruba Borno, vice president of Specialists and Partners at AWS.

While we acknowledge the potential of AMZN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk.  If you are looking for an AI stock that is more promising than AMZN and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

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 11 of 11