The AI Investing Pulse

October 24th, 2024

This Week’s Round-Up of the Top AI Picks from Experts

This week’s AI stock analysis pulls together insights from multiple industry experts, spotlighting key companies driving the future of AI across various sectors.

Nvidia continues to dominate the conversation, with analysts pointing to its GPUs as essential to the booming demand in data centres. One leading Wall Street analyst even described investing in Nvidia as a ‘generational opportunity.’ Meta is also drawing attention, with experts highlighting its AI-driven advancements in Reels monetisation and ad targeting. Meanwhile, Microsoft’s deep AI integration across Azure and Office has many analysts convinced that it has built a solid foundation for sustained long-term growth.

Experts are also bullish on other AI stocks, such as MongoDB, which has seen analyst upgrades after enhancing its database solutions with AI. SoundHound AI is another standout, with analysts particularly optimistic about its leadership in voice and speech recognition technology as AI’s presence in this field grows.

C3.ai remains a strong player in enterprise AI, benefiting from key industry partnerships, though some experts are keeping a close eye on market volatility. Taiwan Semiconductor is considered undervalued by several analysts, given its crucial role in producing AI chips that support the rising demand for hardware.

Beyond these names, analysts are highlighting companies like AppFolio, Spotify, and Vertiv for their innovative use of AI. AppFolio’s AI-powered real estate solutions, Spotify’s personalised music algorithms, and Vertiv’s AI-enhanced data centre infrastructure are all seen as key drivers of growth and innovation in their respective industries as AI continues to transform these sectors.

TOP AI STOCKS

TOP AI ETFs

AI STOCKS & ETFs NEWS 

The AI stocks leading the market to new highs - Morningstar - After a sharp selloff in July and August, stocks seen as benefiting from the AI boom are again leading the market to new highs.

Tesla delivers robust Q3 earnings as Musk’s firm returns to profit growth - Forbes - Tesla's impressive performance in the third quarter showcases a strong rebound, achieving profit growth that has significantly boosted its stock value.

TSMC expects 30% sales growth - Taipai Times - Taiwan Semiconductor Manufacturing raised its revenue forecast thanks to strong and sustainable demand for AI processors for servers.

BlackRock expands AI and Tech investment opportunities with new active ETFs - Yahoo Finance - This move aims to capitalise on the growth potential of AI solutions across various industries.

Cathie Wood's ARK offloads Robinhood stock, buys Tempus AI - Investing.com - Cathie Wood's ARK ETF published their daily trades for Tuesday, October 22, 2024, revealing a mix of strategic buy and sell actions across various sectors.

AI STARTUPS

Legal tech startup Genie AI just raised $17.8 million from Google and Khosla Ventures - Business Insider - This investment aims to enhance the startup's innovative solutions in the legal industry.

Healthcare AI startup Tennr raises $37m to grow research and sales teams - Reuters - The Series B funding valued Tennr between $200 million and $250 million.

Generative AI start-ups attracted $3.9B investments in Q3 2024 - NewsBytes - Venture capitalists significantly increased their investments in generative AI startups, pouring billions into the sector during the third quarter of 2024.

AI TRENDS

Cloud revenues poised to reach $2 trillion by 2030 amid AI rollout - Goldman Sachs - The landscape of Generative AI is rapidly evolving, showcasing innovative applications across various industries. Key trends highlight the increasing integration of AI in creative processes and advancements in model capabilities.

Ark Invest calls blockchain and AI the key to revitalising economy with deflation coming - Cryptoslate - As deflationary pressures loom, these innovations could play a crucial role in reshaping and revitalising financial systems.

AI will generate growth into the global economy - SME Horizon - Advancements in AI are poised to significantly boost productivity and innovation across various industries and could lead to substantial economic growth on a global scale.

With AI market headed for trillion-dollar mark, chip shortages loom - CIODIVE - Seismic shifts in IT infrastructure could trigger a chip shortage over the next several years, according to Bain & Company.

OTHER

AI stagnation: the gap between AI investments and AI adoption - InfoWorld - The disconnect between funding and practical implementation highlights a critical stagnation in the anticipated advancements of AI.

A look at the energy companies OpenAI's Sam Altman is backing - Yahoo Tech - Energy companies are increasingly turning to AI to enhance productivity and optimise their operations.

Non-Invasive early cancer diagnosis through light-AI innovations - MedIndia - Innovative AI technologies are enabling non-invasive detection of cancer at early stages, utilising light-based methods.