We recently published a list of 12 AI Stocks Poised for Massive Growth. In this article, we are going to take a look at where Salesforce Inc (NYSE:CRM) stands against other AI stocks poised for massive growth.
With the AI arms race heating up every passing day, more businesses and countries are eager to stake their claim in the rapidly evolving industry. However, restrictions on artificial intelligence chip exports, particularly those announced in the final days of outgoing President Joe Biden’s administration, have made progress in AI difficult for some.
The restrictions have capped AI chips and technology exports to most countries, blocked access to China and the three other adversaries, and allowed almost unlimited access for Washington’s closest allies.
“The US leads AI now – both AI development and AI chip design, and it’s critical that we keep it that way”
-US Commerce Secretary Gina Raimondo told reporters before the announcement was made.
One country that has not been included by Washington among the “key allies and partners” exempted from the measures is Poland. However, it has recently come to light that the country hopes these restrictions may be lifted.
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Reuters reported on the news, stating that Polish deputy digital minister Dariusz Standerski said there is a chance that the Trump administration may lift restrictions on Poland’s access to the U.S.-designed AI chips. According to Standerski, Biden’s decision was “irresponsible” and “the outgoing administration was unable to provide us with a specific reason why we found ourselves in tier two”.
However, he confirmed that dialogue with the new administration has been “very constructive”.
“I think there is a big chance for that. Consultations last until May 15.”
– Standerski, when asked whether there was a chance that Poland would end up in tier one.
The Polish deputy digital minister also said that Polish Deputy Prime Minister Krzysztof Gawkowski discussed rolling back the AI chip curbs on Poland with U.S. Vice President JD Vance during the AI Action Summit in Paris last month. Even some tech groups have been asking President Donald Trump’s team to ease export restrictions, saying the measures should not extend to a group of U.S. allies.
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 customer service team in an office setting using the company’s Customer 360 platform to communicate with customers.
Salesforce, Inc. (NYSE:CRM)
Number of Hedge Fund Holders: 162
Salesforce Inc (NYSE:CRM) is a cloud-based CRM company that has gained popularity after it unveiled its AI-powered platform called Agentforce. On March 11, the company announced plans to invest USD 1 billion in Singapore over the next five years, boosting the nation’s digital transformation and Agentforce adoption. With businesses increasingly embracing Agentforce, Singapore is an important growth market for the company.
Not only will the investment support Singapore’s National AI Strategy 2.0, but it will also help the country manage its slowing growth rate of the labor force, which is characterized by an aging population and declining birth rates. Enterprises in Singapore will be able to develop countless digital workforces that will enable them to unlock new levels of productivity, innovation, and growth.
“We are in an incredible new era of digital labor where every business will be transformed by autonomous agents that augment the work of humans, revolutionizing productivity and enabling every company to scale without limits. Singapore is at the forefront of this shift, and as the world’s largest provider of digital labor through our Agentforce platform, Salesforce is thrilled to expand our work with the business community and our longtime partners in the region to drive innovation, productivity and growth.”
-Marc Benioff, Chair and CEO, Salesforce.
Overall, CRM ranks 7th on our list of AI stocks poised for massive growth. While we acknowledge the potential of CRM 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. If you are looking for an AI stock that is more promising than CRM 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.