5 Best Artificial Intelligence (AI) Stocks To Buy According to Hedge Funds

  1. Alphabet (Nasdaq:GOOG, GOOGL)

Number of Hedge Fund Investors In Q2 2023: 366

Alphabet is one of the five best artificial intelligence (AI) stocks according to hedge funds that has literally transformed technological adoption and implementation. The Mountain View, California-based Alphabet (Nasdaq:GOOG, GOOGL) offers different products and services including Google Maps, Google Play Store, Cloud, etc. Its investment in artificial intelligence (AI) is one of its core strategies for the future as its DeepMind unit is utilizing AI to provide exceptional services. According to CNBC, Alphabet (Nasdaq:GOOG, GOOGL) has contracted with Scale AI, the $7.3 billion startup to test AI tools.

Insider Monkey took a look at hedge fund portfolios of Alphabet (Nasdaq:GOOG, GOOGL) for their second quarter of 2023 investments and found out that 366 had a stake in the company. The firm’s largest investor is Harris Associates which owns roughly 26.9 million shares for about $3.2 billion of Alphabet (Nasdaq:GOOG, GOOGL).