Billionaire Ken Fisher Loves These 5 AI Stocks

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This article presents an overview of Billionaire Ken Fisher Loves These 5 AI Stocks. For a detailed overview of such stocks read our article, Billionaire Ken Fisher Loves These 10 AI Stocks.

5. Alphabet Inc  (NASDAQ:GOOG)

Ken Fisher’s Q1’2024 Stake: $6,991,843,449

Alphabet Inc Class C (NASDAQ:GOOG) is among the leaders in the AI race, with the company well-positioned to benefit from the AI revolution happening in Cloud, Search, Video and Ads. Alphabet Inc Class C (NASDAQ:GOOG) is going ballistic with its AI plans as it feels increasing competition from OpenAI and other generative AI-powered search products. Wall Street analysts praised Alphabet Inc Class C’s (NASDAQ:GOOG) Q1 results which showed Alphabet Inc Class C’s (NASDAQ:GOOG) strengths and caused its market cap to cross $2 trillion. Jefferies increased its price target for Alphabet to $200, saying Search and YouTube ads accelerated for the fifth consecutive quarter.

Palm Valley Capital Fund stated the following regarding Alphabet Inc. (NASDAQ:GOOG) in its first quarter 2024 investor letter:

“Governments have various irons in the fire for curbing (commandeering?) the power of tech titans, with the European Union rolling out the Digital Markets Act, the Federal Trade Commission suing Amazon for illegally using monopoly power, and the DOJ lawsuit against Alphabet Inc. (NASDAQ:GOOG)’s advertising business going to trial in September.

Furthermore, the dominant technology enterprises are not immune from shooting themselves in the foot. Google’s botched launch of its AI model, Gemini, shows the risk of having too much money. You lose discipline. A Pirate Wires exposé into the firm’s culture revealed that employees went to extreme lengths to intentionally degrade the quality of the AI engine’s output for ideological reasons. Try that as a small business! See how far you make it…” (Click here to read the full text)

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