We recently published a list of Top 10 AI Stocks Making Headlines on Wall Street. In this article, we are going to take a look at where Amazon.com Inc. (NASDAQ:AMZN) stands against other top AI stocks making headlines on Wall Street.
US President Donald Trump is strengthening global ties aimed at long-term cooperation. In its latest, he has announced Saudi Arabia’s $600-billion commitment to invest in the United States on the first day of a four-day tour of the Gulf, paving the way for a series of business deals. These deals aim to strengthen the U.S.’s energy security, defense industry, technology leadership, and access to global infrastructure and critical minerals.
READ ALSO: 9 AI Stocks Poised to Gain from Trump’s Middle East AI Push and 10 AI Stocks Making Moves This Week.
Only recently, the Department of Commerce announced that it was going to rescind President Joe Biden’s rule regarding AI chip exports and implement a “much simpler rule” instead. Fast-forward to Trump’s tour of the Gulf beginning Tuesday, global political and business leaders gathered in Riyadh to discuss topics such as the artificial intelligence boom and global trade.
The elimination of Biden’s rule made sense when a White House official made remarks about how the United States does not need to block the global spread of its AI chips and technology to control national security risks — comments that were made to reflect on the flexible approach being adopted by the US toward sharing advanced technology to trusted allies such as Saudi Arabia.
As evident, President Donald Trump met with Saudi Crown Prince Mohammed bin Salman and several deals were announced between the two countries, with Saudi Arabia benefiting from deals with top tech firms to advance artificial intelligence in the Kingdom. While Saudi Arabia is investing $600 billion in the U.S, the White House also publicized a nearly $142 billion deal to provide the Kingdom with weapons and services from U.S. defense firms.
Nvidia CEO Jensen Huang announced a deal to provide Saudi Arabia with its high-end AI Blackwell chips, amongst deals made by other notable firms such as AMD, Uber, Cisco, and Amazon. Some notable attendees besides Huang included Elon Musk, Andy Jassy, Sam Altman, President Ruth Porat, Arvind Krishna, Alex Karp, and Cristiano Amon.
For this article, we selected AI stocks by going through news articles, stock analysis, and press releases. These stocks are also popular among hedge funds. The hedge fund data is as of Q4 2024.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
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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 13, American cloud computing company PagerDuty renewed its global strategic collaboration agreement (SCA) with Amazon Web Services (AWS) to leverage AWS’s advanced generative AI services within its AI-first platform called PagerDuty Operations Cloud.
The renewed collaboration will help PagerDuty to enhance the platform’s ability to detect and resolve IT problems using artificial intelligence. The PagerDuty platform allows teams to detect and diagnose disorderly events, and alert the right people to respond and streamline infrastructure and workflows. More than 6,000 joint customers will be able to leverage the capabilities of the PagerDuty Operations Cloud to manage their business through AI and automation.
“The integration of AWS advanced AI capabilities, including the Amazon Q index, creates a powerful combination to address critical customer needs for operational resilience. The AWS and PagerDuty strategic collaboration agreement builds on our long-standing relationship to help organizations transform how they detect, respond to and prevent operational disruptions. Now, with the PagerDuty solutions available in AWS Marketplace, we’re making it easier than ever for our shared customers to implement digital operations management that keeps their businesses running smoothly and their customers satisfied.”
-Chris Grusz, Director of AWS Marketplace and ISV Alliances at AWS.
Overall, AMZN ranks 1st on our list of top AI stocks making headlines on Wall Street. 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 doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than AMZN but that trades at less than 5 times its earnings, 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. This article is originally published at Insider Monkey.
