The AI landscape is heating up, with several companies making strategic moves and analysts adjusting their outlooks. Goldman Sachs initiated coverage on AMD with a 'Neutral' rating and a $140 price target, while also starting coverage on Broadcom with a 'Buy' rating and a $315 price target, anticipating AI to constitute over 40% of Broadcom's business by 2026. AMD faces stiff competition from Nvidia in the GPU market, though its MI355 accelerator shows promise with a four times performance increase. Nvidia's dominance in AI chips is further underscored by Rosenblatt Securities increasing its price target on the company. Speaking of competition, while Nvidia and Microsoft vie for the top spot in AI, some analysts predict Amazon could become the most valuable AI company by 2030, leveraging its e-commerce, logistics, and cloud computing services, including an $8 billion investment in Anthropic for AWS integration. Evercore ISI also increased its price target on Amazon, recognizing its growing AI capabilities through AWS. Coupang is entering the AI cloud computing market with Coupang Intelligent Cloud (CIC), while Meta is deepening its partnership with EssilorLuxottica, increasing its stake to almost 3% for AI eyewear development. BofA Securities raised the price target on Meta's stock to $765.00. Morgan Stanley upgraded Microsoft due to its leading position in AI. SoundHound AI's revenue increased 151% due to the growing conversational AI market. Other AI stocks to watch include Snowflake, ServiceNow, Salesforce, Accenture, Arista Networks, and Super Micro Computer. TD Cowen started coverage of Micron Technology with a Buy rating, highlighting its role in AI infrastructure, and Needham started coverage of MongoDB with a Buy rating, noting its potential in AI-powered applications.
Key Takeaways
- Goldman Sachs gives AMD a 'Neutral' rating with a $140 price target, noting challenges against Nvidia in the GPU market.
- Goldman Sachs gives Broadcom a 'Buy' rating with a $315 price target, projecting AI to comprise over 40% of its business by 2026.
- Amazon may become the most valuable AI company by 2030, integrating AI into its e-commerce, logistics, and cloud services.
- Amazon has invested $8 billion in Anthropic to integrate its services into Amazon Web Services (AWS).
- Meta increased its stake in EssilorLuxottica, parent of Ray-Ban, to almost 3% for AI eyewear development.
- BofA Securities raised the price target on Meta's stock to $765.00.
- SoundHound AI's revenue increased 151% due to the growing conversational AI market.
- AMD's MI355 accelerator delivers a four times performance increase.
- Coupang is entering the AI cloud computing market with Coupang Intelligent Cloud (CIC).
- Morgan Stanley upgraded Microsoft due to its leading position in AI.
Goldman Sachs gives AMD a $140 target amid AI competition
Goldman Sachs started covering Advanced Micro Devices (AMD) stock with a 'Neutral' rating and a $140 price target. The firm believes the AI investment cycle is growing. However, AMD faces challenges in gaining market share against Nvidia in the GPU market. AMD develops semiconductors and processors for various applications like data centers and AI.
Broadcom's AI growth gets Goldman Sachs' support
Goldman Sachs started covering Broadcom Inc. stock with a 'Buy' rating and a $315 price target. The firm believes AI infrastructure spending is increasing. Broadcom is expected to maintain its leading position in enterprise networking silicon. AI is predicted to make up over 40% of the company's business by 2026. Broadcom's custom chip offerings and networking assets uniquely position it in the AI market.
Broadcom's AI growth gets Goldman Sachs' support
Goldman Sachs started covering Broadcom Inc. stock with a 'Buy' rating and a $315 price target. The firm believes AI infrastructure spending is increasing. Broadcom is expected to maintain its leading position in enterprise networking silicon. AI is predicted to make up over 40% of the company's business by 2026. Broadcom's custom chip offerings and networking assets uniquely position it in the AI market.
Goldman Sachs gives AMD a $140 target amid AI competition
Goldman Sachs started covering Advanced Micro Devices (AMD) stock with a 'Neutral' rating and a $140 price target. The firm believes the AI investment cycle is growing. However, AMD's gains in the server CPU market may slow down due to ARM-based solutions. AMD's GPU solutions are also expected to gain limited market share against Nvidia. AMD develops semiconductors and processors for data centers, gaming, AI, and other applications.
Broadcom's AI growth gets Goldman Sachs' support
Goldman Sachs started covering Broadcom Inc. stock with a 'Buy' rating and a $315 price target. The firm believes AI infrastructure spending is increasing.
Amazon could be world's most valuable AI company by 2030
While Nvidia and Microsoft have been competing for the top spot, Amazon may become the most valuable AI company by 2030. Amazon is integrating AI into its e-commerce, logistics, and cloud computing services. The company is using AI-powered robotics in warehouses and exploring AI for package delivery. Amazon has invested $8 billion in Anthropic, integrating its services into Amazon Web Services (AWS).
Amazon could be world's most valuable AI company by 2030
While Nvidia and Microsoft have been competing for the top spot, Amazon may become the most valuable AI company by 2030. Amazon is integrating AI into its e-commerce, logistics, and cloud computing services. The company is using AI-powered robotics in warehouses and exploring AI for package delivery. Amazon has invested $8 billion into a start-up to boost Amazon Web Services (AWS).
Meta increases stake in Ray-Ban parent company for AI eyewear
Meta Platforms, Inc. increased its stake in EssilorLuxottica, the parent company of Ray-Ban and Oakley. BofA Securities raised the price target on Meta's stock to $765.00. Meta now has almost a 3% stake in EssilorLuxottica, its AI-eyewear partner. This investment shows a deeper partnership to develop smart glasses. Meta may increase its stake in the eyewear company to 5% in the future.
Meta increases stake in Ray-Ban parent company for AI eyewear
Meta Platforms, Inc. increased its stake in EssilorLuxottica, the parent company of Ray-Ban and Oakley. BofA Securities raised the price target on Meta's stock to $765.00. Meta now has almost a 3% stake in EssilorLuxottica, its AI-eyewear partner. This investment shows a deeper partnership to develop smart glasses.
SoundHound AI versus Nvidia which is the better AI stock
SoundHound AI's revenue increased 151% due to the growing conversational AI market. Nvidia leads the AI processor market and is very profitable. Nvidia's stock is cheaper than SoundHound's, and it benefits from the AI data center market. SoundHound's tech handles customer service calls and drive-thru orders. Nvidia's semiconductor designs account for up to 95% of all AI data center processors.
Coupang enters AI cloud computing market
Coupang unveiled its new AI cloud computing service, Coupang Intelligent Cloud (CIC). Coupang is competing for government funding as South Korea aims to become a cloud computing hub. The company has invested in AI computing infrastructure for its warehouses and logistics. Coupang's e-commerce marketplace grew 16% year over year. Coupang is expanding into Taiwan and other regions.
Top AI stocks to consider this summer
Snowflake operates a cloud data platform supporting AI and analytics. Snowflake's revenue grew 26% year-over-year, with over 5,200 accounts using Cortex AI. AMD designs semiconductors for data centers, PCs, and gaming. AMD's MI355 accelerator delivers a four times performance increase. AMD's data center AI accelerator market is expected to exceed $500 billion by 2028.
AI stocks to watch now
ServiceNow, Salesforce, Accenture, Arista Networks, and Super Micro Computer are five artificial intelligence stocks to watch.
Analysts make big moves on AI stocks
Morgan Stanley upgraded Microsoft due to its leading position in AI. TD Cowen started coverage of Micron Technology with a Buy rating, highlighting its role in AI infrastructure. Needham started coverage of MongoDB with a Buy rating, noting its potential in AI-powered applications. Rosenblatt Securities increased its price target on Nvidia, citing its dominance in the AI chip market. Evercore ISI increased its price target on Amazon, highlighting its growing AI capabilities through AWS.
SoundHound AI versus Nvidia which is the better AI stock
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Sources
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- Prediction: This Magnificent Artificial Intelligence (AI) Stock Will Be the Most Valuable Company in the World by 2030 (Hint: It's Not Nvidia or Microsoft)
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