Goldman Sachs’ 35 AI Superstars

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5. Alphabet Inc. (NASDAQ:GOOG)

Number of Hedge Fund Holders: 160

Alphabet Inc. (NASDAQ:GOOG) is a California-based technology company that owns and runs the internet search engine Google. This company stands as a top investment choice for a variety of reasons. To start with, the company showed strong growth in profitability, illustrated in the third quarter of 2024; for instance, a 34% increase in net income was reported, and a 37% rise in EPS, reaching $2.12. Moreover, in Q2 of 2024, the company achieved revenues of $85 billion, a 14% year-on-year increase, driven by strong performance in Search and Cloud. Notably, Cloud revenue exceeded $10 billion for the first time, with $1 billion in operating profit from this segment, highlighting the company’s successful expansion. The advancements in Gemini 2.0 in generative AI, the international expansion of Waymo and the re-entry into the VR/AR space with Android XR make Alphabet a lucrative choice for investment.

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