We recently compiled a list of the 12 AI News and Ratings Investors Probably Missed. In this article, we are going to take a look at where Everspin Technologies, Inc. (NASDAQ:MRAM) stands against the other AI stocks.
AI is transforming industries at a very fast pace, with businesses integrating AI agents to improve efficiency and customer interactions. Bret Taylor, co-founder of Sierra and chairman of OpenAI’s board, discussed the significance of Western leadership in AI innovation, the evolving role of AI in businesses, and the growing competition in the global market in a CNBC interview on March 6.
AI Advancements and the Importance of Western Leadership
Bret Taylor emphasized the need for the Western world to lead in AI innovation, pointing toward its impact on businesses and society. He compared AI agents to past technological shifts like websites and mobile apps, predicting that AI-driven customer interactions will soon become standard. He explained the AI market as having two main components including infrastructure providers like OpenAI, which builds foundational models, and application developers such as Sierra, Harvey, and Cursor, which create AI-driven solutions for industries like customer service, legal, and software development.
Taylor also acknowledged the global competition and that many countries are investing in AI but stressed that Western leadership is crucial to ensure AI models reflect values like freedom and self-expression. While European governments seek more technological independence due to geopolitical factors, he sees a strong demand for US-based AI solutions in Europe and remains optimistic about collaboration. He also views the declining costs of AI as a driver for wider adoption, making advanced AI applications more accessible.
Finally, Taylor discussed the broader implications of AI, as he envisions it transforming education with personalized tutoring, improving healthcare accessibility, and improving industries like software engineering and customer service. He remains optimistic about AI’s societal benefits despite concerns about rapid adoption. Lastly, he highlighted the importance of continued investment in U.S. AI infrastructure, such as Stargate, to support future advancements in AI research and deployment.
For this article, we selected AI stocks by reviewing news articles, stock analysis, and press releases. We listed the stocks in ascending order of their hedge fund sentiment taken from Insider Monkey’s Q4 database of over 1000 hedge funds.
At Insider Monkey we are obsessed with 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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Everspin Technologies, Inc. (NASDAQ:MRAM)
Number of Hedge Fund Holders: 5
Everspin Technologies, Inc. (NASDAQ:MRAM) manufactures and sells Magnetoresistive Random Access Memory (MRAM) products for industrial, medical, automotive, aerospace, and data center applications.
On March 6, Everspin announced that it was awarded a contract to collaborate with a Purdue University-led consortium on the CHEETA program, which integrates MRAM with CMOS for energy-efficient AI computing. The contract is potentially worth up to $10.5 million over four years and includes an initial phase valued at approximately $4 million. Everspin’s MRAM technology developed over nearly two decades and is now being utilized for advanced computing solutions. The project focuses on using MRAM-based In-Memory Compute to significantly reduce power consumption and latency in AI accelerators. Everspin Technologies, Inc. (NASDAQ:MRAM)’s AgILYST MRAM aims to improve AI performance and redefine memory architecture for next-generation computing.
Overall MRAM ranks 10th on our list of AI stocks investors probably missed. While we acknowledge the potential of MRAM as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than MRAM but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.
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