5 Stocks with AI Catalysts in 2023

4. Take-Two Interactive Software, Inc. (NASDAQ:TTWO)

Number of Hedge Fund Holders: 58

Chatter in gaming circles is growing that Take-Two Interactive Software, Inc. (NASDAQ:TTWO)’s incoming GTA 6 would be AI-heavy, as the company is expected to use advanced AI in non-player characters (NPCs), overall game dynamics, traffic, and other parts of the game. Perhaps that’s why Morgan Stanley said the launch of the game could be an AI catalyst for Take-Two Interactive Software, Inc. (NASDAQ:TTWO). Take-Two Interactive Software, Inc. (NASDAQ:TTWO) shares have gained about 19% over the past one year.

As of the end of the second quarter of 2023, 58 hedge funds out of the 910 funds tracked by Insider Monkey had stakes in Take-Two Interactive Software, Inc. (NASDAQ:TTWO). The biggest stakeholder of Take-Two Interactive Software, Inc. (NASDAQ:TTWO) during this period was Chase Coleman and Feroz Dewan’s Tiger Global Management LLC which owns a $703 million stake in the company.

Diamond Hill All Cap Select Strategy made the following comment about Take-Two Interactive Software, Inc. (NASDAQ:TTWO) in its Q4 2022 investor letter:

“Video game developer Take-Two Interactive Software, Inc. (NASDAQ:TTWO) has faced weakness in the mobile gaming market, in addition to game-launching delays. The company reported underwhelming quarterly results in Q4 and lowered its full-year guidance. After reexamining our long-term thesis, we decided to exit our position in favor of more attractive opportunities.”