We recently compiled a list of the 14 AI Stocks Making Waves on Wall Street. In this article, we are going to take a look at where Dell Technologies Inc. (NYSE:DELL) stands against the other AI stocks.
The Road to Superintelligence
In a recent blog post, OpenAI CEO Sam Altman said that as OpenAI continues to advance it has moved beyond research to product development, with a focus on AGI’s future and safety. He said that the goal is to make sure that AGI benefits humanity by regularly releasing technology and refining its safety. For the future, OpenAI aims to reach superintelligence, believing it could greatly accelerate scientific and societal progress. OpenAI remains committed to its mission, confident in the transformative potential of AI. He wrote:
“We are beginning to turn our aim beyond that, to superintelligence in the true sense of the word. We love our current products, but we are here for the glorious future. With superintelligence, we can do anything else. Superintelligent tools could massively accelerate scientific discovery and innovation well beyond what we are capable of doing on our own, and in turn massively increase abundance and prosperity.
This sounds like science fiction right now, and somewhat crazy to even talk about it. That’s alright—we’ve been there before and we’re OK with being there again. We’re pretty confident that in the next few years, everyone will see what we see, and that the need to act with great care, while still maximizing broad benefit and empowerment, is so important. Given the possibilities of our work, OpenAI cannot be a normal company.”
AI’s Rapid Evolution Could Reshape Business Productivity by 2025
In a CNBC interview, John Chambers, founder and CEO of JC2 Ventures agreed with Sam Altman that AI will soon have a major impact on business and made the forecast that by 2025, AI agents could integrate into the workforce and significantly increase productivity. Chambers believes that AI will boost productivity by 7-10% annually and will contribute to earnings growth and drive the stock market for the next decade. He also pointed out that the U.S. is well-positioned as a leader in AI, with half of the world’s computing power and data centers, excluding China.
Chambers believes the AI shift will happen much faster and deliver greater economic benefits than the internet, emphasizing that companies must adapt rapidly to avoid being left behind. He said that this acceleration will be crucial for both startups and large corporations, as the most innovative will rise ahead of their competitors.
For this article, we selected AI stocks by going through news articles, stock analysis, and press releases. We listed the stocks in ascending order of their hedge fund sentiment taken from Insider Monkey’s database of 900 hedge funds.
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 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).
A team of IT experts discussing the latest network security trends over a laptop screen.
Dell Technologies Inc. (NYSE:DELL)
Number of Hedge Fund Holders: 60
Dell Technologies Inc. (NYSE:DELL) provides AI-optimized servers and storage systems, focusing on modernizing infrastructure and boosting the performance of business applications.
Dell Technologies has unveiled a simplified, AI-driven portfolio to improve productivity and creativity. Its new offerings include AI-powered PCs with built-in NPU technology and are available across three categories that include Dell, Dell Pro, and Dell Pro Max. The products feature the latest Intel, AMD, and Qualcomm silicon, and are designed for long battery life, durability, and performance.
Dell’s AI solutions, such as the Dell Pro AI Studio, simplify AI development for businesses and reduce deployment times significantly. Additionally, Dell emphasizes sustainability with modular designs and the use of recycled materials. The company is focusing on making AI adoption easier for enterprises.
Overall DELL ranks 9th on our list of the AI stocks that are currently making waves on Wall Street. While we acknowledge the potential of DELL 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 timeframe. If you are looking for an AI stock that is more promising than DELL 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.