5 Best Artificial Intelligence and Robotics Stocks To Buy According To Hedge Funds

4. Alphabet Inc. (NASDAQ:GOOG)

Number of Hedge Fund Holders: 155 

Large companies like Alphabet Inc. (NASDAQ:GOOG) have a significant advantage over other software companies in the artificial intelligence domain because of the larger budgets available to them and the enormous datasets they can use to improve the capabilities of their AI products. Google AI, the AI division of Google, has made some Google products compatible with deep learning and AI software, while continuing research into the field. It is ranked fourth on our list of 11 best artificial intelligence and robotics stocks to buy according to hedge funds.

Most market analysts are bullish on Alphabet Inc. (NASDAQ:GOOG) stock, with Goldman Sachs recently initiating coverage at Buy. The firm recently announced a $1 billion investment for the digital transformation of Africa. It had, earlier this year, announced a $1.2 billion investment in a Germany-based cloud computing project as well. 

Out of the hedge funds being tracked by Insider Monkey, London-based investment firm TCI Fund Management is a leading shareholder in Alphabet Inc. (NASDAQ:GOOG) with 2.9 million shares worth more than $7.3 billion. 

In its Q1 2021 investor letter, Artisan Partners, an asset management firm, highlighted a few stocks and Alphabet Inc. (NASDAQ:GOOG) was one of them. Here is what the fund said:

“Large-cap tech companies have been resilient through the pandemic—Alphabet among them. A top contributor, Alphabet’s Play Store and Google Cloud are in demand as businesses accelerate online activity which, along with strong YouTube user growth, is helping stabilize temporarily weaker search ad revenue trends. Through the lens of our disciplined bottom-up research process, we view Alphabet as one of the best businesses in the world, capable of expanding revenues at a rapid rate for years to come, with a bullet proof balance sheet and an average asking price. It’s a name we’ve owned since 2012 and for which we continue to have high hopes regarding future prospects.”