Elastic N.V. (ESTC): Piper Sandler Ups Price Target to $130, Cites Generative AI Momentum and Cloud Growth
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We recently compiled a list of the 15 AI Stocks to Watch: News and Analyst Ratings. In this article, we are going to take a look at where Elastic N.V. (NYSE:ESTC) stands against the other AI stocks.
As the “AI arms race” continues to evolve, countries are increasingly beginning to realize the efforts they need to expend to stay relevant. One such country in the picture that’s stepping up its efforts is Britain. On Monday, November 25, British cabinet office minister Pat McFadden warned that Russian cyber criminals are increasingly targeting countries that support Ukraine, directing that Britain and its NATO allies must stay ahead in the AI arms race. He also stated that neither Britain nor its allies will be intimidated by Russian cyber threats to stop supporting Ukraine.
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The remarks, given at the NATO Cyber Defence Conference in London, also unveil Britain's plans to set up a new Laboratory for AI (artificial intelligence) security to help create better cyber defense tools and organize intelligence on attacks. McFadden also emphasized businesses and institutions to do "everything they can to lock their digital doors" to protect themselves from what he called an increasingly aggressive Russia.
"While no one should underestimate the Russian aggressive and reckless cyber threat to NATO, we will not be intimidated by it and we will never allow it to dictate our decisions or policies. And we will do everything we can to defend our countries against it".
McFadden will be sitting down with British businesses to discuss how they can boost their security in a few days.
In other AI news, lawyers for The New York Times and Daily News have revealed that OpenAI engineers accidentally deleted data potentially relevant to a case their company was being sued on. News publishers The New York Times and Daily News had filed a copyright infringement lawsuit against OpenAI. The legal proceedings required OpenAI to let the publishers look through its training datasets for any copyrighted content.
The search, which started on November 1st took a turn on November 14 when lawyers for the publishers alleged that search data stored on one of the virtual machines (after 150 hours of work) had vanished. While some data was recovered, it was without names and folder structure. The lawyers said it “cannot be used to determine where the news plaintiffs’ copied articles were used to build [OpenAI’s] models”.