In This Article:
We recently published a list of 10 AI Stocks on Wall Street’s Radar. In this article, we are going to take a look at where Meta Platforms, Inc. (NASDAQ:META) stands against other AI stocks on Wall Street’s radar.
Days after the Biden-era rule on AI chips export was rescinded, a bipartisan group of eight U.S. lawmakers has now introduced a bill requiring makers of artificial intelligence chips to include technology that verifies the location of their chips before exporting them.
Introduced in the U.S. House of Representatives, the Chip Security Act will aim to address reports of U.S. export-controlled AI chips being smuggled into China.
The bill comes shortly after US President Donald Trump began his tour of the Middle East this week, announcing several deals that will send AI chips to countries in the Middle East. This has been despite growing opposition from some inside the US government.
READ NEXT: Top 10 AI Stocks Making Headlines on Wall Street and 9 AI Stocks Poised to Gain from Trump’s Middle East AI Push
“In order for the United States to maintain our technological advantage, we must employ safeguards to help ensure export controls are not being circumvented, allowing these advanced AI chips to fall into the hands of nefarious actors.”
For this article, we selected AI stocks by going through news articles, stock analysis, and press releases. These stocks are also popular among hedge funds. The hedge fund data is as of Q4 2024.
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 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
A team of developers working in unison to create the company's messaging application.
Meta Platforms, Inc. (NASDAQ:META)
Number of Hedge Fund Investors: 235
Meta Platforms, Inc. (NASDAQ:META) is a global technology company. On May 14, Austrian advocacy group NOYB said it will seek an injunction against Meta Platforms. The said injunction may lead to substantial claims if the tech giant goes ahead with its plans to use Europeans’ personal data to train its AI models. NOYB, or none of your business, is led by privacy activist Max Schrems. Meta plans to start using personal data from European users of Instagram and Facebook from May 27, citing legitimate interest under EU privacy rules for using users’ data.