12 AI Stocks on Latest News and Ratings

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9. Elastic N.V. (NYSE:ESTC)

Number of Hedge Fund Holders: 52

On May 28, Elastic N.V. (NYSE:ESTC) announced a five-year strategic collaboration agreement (SCA) with Amazon Web Services (AWS) to accelerate artificial intelligence innovation. Elastic N.V. is a search AI company offering cloud-based solutions.

The collaboration will allow organizations to streamline their transitions into AI-native enterprises via joint product integrations and go-to-market (GTM) initiatives. This will allow customers to build generative AI-based applications faster while reducing intricacies.

By integrating Elastic’s Search AI Platform with AWS services, customers will be able to build intelligent, scalable, and secure applications by using generative AI features through Amazon Bedrock, migrating Elastic Search workloads to Elastic Cloud and AWS, saving costs, accelerating AI development, and ensuring strong data regulation.

“As the speed of generative AI adoption accelerates, search has become increasingly relevant. Our collaboration with AWS and integration with Amazon Bedrock brings the power of search directly to generative AI for a host of use cases, including cybersecurity and observability. Together, we’re enabling developers to build intelligent, context-aware applications that leverage their own data securely and at scale.”

-Ash Kulkarni, chief executive officer at Elastic.

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