3 AI Stocks Hitting New Highs - The AI Momentum Watch

The AI Investing Pulse

December 5th, 2024

In this week’s issue:

1. 3 AI stocks hitting new highs

2. The best performing AI stocks and ETF over the last week

3. Latest stock ideas

4. The latest news on AI stocks, startups and trends

3 AI Stocks Hitting New Highs - The AI Momentum Watch

This week’s analysis spotlights three standout companies from our AI Stock List: Coherent Corp. (COHR), Datadog Inc. (DDOG), and Spotify Technology S.A. (SPOT). Each has recently achieved new 52-week highs, driven by strong financial performance, investor confidence, and their ability to capitalise on AI innovation across hardware, software, and streaming platforms.

Coherent (COHR): $17B Market Cap – Powering AI Infrastructure
Coherent has reached a 52-week high due to surging demand for its AI hardware, including sensors and high-speed transceivers essential for AI data centres and autonomous technologies. Partnerships with industry leaders like Nvidia further highlight its critical role in advancing AI infrastructure. Coherent is also preparing to launch 1.6T transceivers by 2025, reinforcing its position as a key supplier in the expanding AI hardware market. COHR received positive analyst initiations this week.

Datadog (DDOG): $56B Market Cap – Leading AI-Powered Monitoring
Datadog’s rise to a 52-week high reflects strong revenue growth and increasing adoption of its AI-enhanced monitoring and security tools. The company’s ability to optimise cloud environments and streamline AI workflows has solidified its market leadership. Analyst upgrades and raised revenue forecasts indicate confidence in Datadog’s sustained growth and its ability to deliver innovative solutions in the AI-powered software sector.

Spotify Technology (SPOT): $100B Market Cap – AI-Powered Streaming Innovation
Spotify’s 52-week high has been fuelled by exceptional growth in users and revenue, driven by its AI-enhanced personalisation and engagement strategies. The company’s ability to effectively monetise its user base, alongside strong quarterly performance and analyst upgrades, has reinforced its position as a leader in the streaming industry. Spotify’s projections for continued user and revenue growth demonstrate its sustained momentum.

Coherent, Datadog, and Spotify exemplify the diverse potential of AI across industries. Their recent achievements of new 52-week highs reflect strong investor confidence, leadership in their respective sectors, and the transformative impact of AI innovation.

Disclaimer - Past performance is not a guide to future performance. The value of investments, and the income from them, can fall as well as rise. You may not get back the full amount invested and, in some cases, nothing at all.

TOP AI STOCKS

TOP AI ETFs

WEEKLY AI STOCKS IDEAS

Wall Street is bullish on Altassian (TEAM) - MSN - AI Stack: Software Application Layer

Best Canadian stocks: Constellation Software (CSU), Shopify (SHOP), Kinaxix (KXS) - The Motley Fool - AI Stack: Software Application Layer

AI STOCKS & ETFs NEWS 

Meta Platforms (META) price prediction and forecast 2025-2030- 24/7 Wallstreet - “Meta AI is on track to be the most used AI assistant in the world by the end of the year,” according to CEO Mark Zuckerberg.

Tesla stock outlook - Forbes - Analysts at investment firm Stifel raised their outlook for Tesla stock while simultaneously expressing skepticism about Tesla’s bread-and-butter electric vehicle business.

Why BigBear (BBAI) stock roared higher Tuesday morning - Yahoo Finance - Shares of server and storage solution specialist BBAI surged as much as 20.9% after some bullish commentary comparing it to Palantir.

Amazon launches new AI models with competitive performance- Investing.com - These models have been tested against industry benchmarks and have shown competitive or superior performance in various tasks.

AI STARTUPS

These are the pioneering AI startups that raised the most money this year - Startups - UK-based AI startups are on track for a record-breaking fundraising year. Here are the companies that secured the biggest tech investment in 2024.

Jeff Bezos is betting millions on a Nvidia rival - Quartz - Billionaire Jeff Bezos is throwing his weight behind Tenstorrent, a computing company that’s coming for Nvidia’s dominance of the AI chip market.

The startup trying to turn the web into a database - MIT Technology Review - Search firm Exa wants to use the tech behind large language models to tame the wildness of the web.

€50 million AI startup fund launched by GVC Gaesco and next tier ventures - EU Startups - This collaboration will focus on targeting 30–35 operations in B2B AI startups across Europe, the United States, and Latin America.

AI TRENDS

AI infrastructure market set for explosive growth, projected to reach USD 164.12B by 2030 - OpenPR - The research analysts have conducted an in depth segmental analysis of the global AI Infrastructure market based on type, application, and geography.

The current landscape of AI - Medium - Reviewing the trends, challenges, and opportunities shaping AI today.

5 AI software development trends to watch in 2025 - Devpro Journal - Harness the power of AI to streamline development workflows, enhance productivity, and create more innovative and sophisticated applications.

OTHER

Why the stock market crushed expectations in 2024- Business Insider - The S&P 500 has surged 27% in 2024, on track for its best year since 2019.

Harvard graduate leverages AI for NASA to better understand oceans - The Recursive - Oceans cover 71% of Earth and drive vital systems that impact life on land. How can we preserve their health?