We recently published a list of 10 Trending AI Stocks on Wall Street Right Now. In this article, we are going to take a look at where Dell Technologies Inc. (NYSE:DELL) stands against other trending AI stocks on Wall Street right now.
US President Donald Trump wrapped up his tour of the Middle East today, concluding numerous high-profile deals and diplomatic engagements with countries such as Saudi Arabia, Qatar, and the United Arab Emirates (UAE).
On his last stop of the Gulf tour, Trump inked a massive AI data centre project where the two countries will be partnering on an artificial intelligence campus. Trump noted that the United Arab Emirates and the United States had agreed on a path for the Gulf country to buy advanced AI semiconductors from U.S. companies. This marks a significant step forward in Abu Dhabi’s efforts to become a global AI hub.
The AI agreement “includes the UAE committing to invest in, build, or finance U.S. data centres that are at least as large and as powerful as those in the UAE.”
-White House.
READ ALSO: 10 AI Stocks on Wall Street’s Radar and 9 AI Stocks Poised to Gain from Trump’s Middle East AI Push.
Trump also pledged to strengthen U.S. ties to the United Arab Emirates, announcing deals with the Gulf state totalling over $200 billion. The two countries have agreed to deepen cooperation in artificial intelligence.
The US and UAE have agreed to establish a “US-UAE AI Acceleration Partnership” framework. Trump and Sheikh Mohamed also attended the unveiling of the new 5GW AI campus. This would be the largest outside the United States. However, the countries did not specify which AI chips from Nvidia or other companies could be included in the data centres.
“In the UAE, American companies will operate the data centers and offer American-managed cloud services throughout the region. The agreement also contains strong security guarantees to prevent diversion of U.S. technology.”
-Commerce Secretary Howard Lutnik on the broader AI agreement between the US and the UAE.
“I have absolutely no doubt that the relationship will only get bigger and better..Your wonderful brother came to Washington a few weeks ago and he told us about your generous statement as to the 1.4 trillion.”
-Trump said in a meeting with UAE President Sheikh Mohamed bin Zayed Al Nahyan, referring to a UAE pledge to invest $1.4 trillion in the U.S. over 10 years.
The UAE is “keen to continue and strengthen this friendship for the benefit of the two countries and peoples..your presence here today, your excellency, the president, confirms that this keenness is mutual.”
-Sheikh Mohamed told Trump
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).
A team of IT experts discussing the latest network security trends over a laptop screen.
Dell Technologies Inc. (NYSE:DELL)
Number of Hedge Fund Holders: 63
Dell Technologies Inc. (NYSE:DELL) provides IT solutions, including servers, storage, networking, and personal computing devices, to businesses and consumers worldwide. On May 16, Citi reiterated the stock as “Buy” and raised its price target on Dell to $128 per share from $105 ahead of earnings later this month. The company will report its earnings for its fiscal first quarter on May 29.
“The company’s lean inventory, just-in-time manufacturing, and diversification in supply chain to Mexico and other regions suggest they should be able to adapt to the changing dynamics more rapidly than their peers.”
Overall, DELL ranks 9th on our list of trending AI stocks on Wall Street right now. While we acknowledge the potential of DELL as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than DELL and that has 100x upside potential, 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.
