We recently published a list of Top 10 AI Trending News on Wall Street. In this article, we are going to take a look at where ServiceNow, Inc. (NYSE:NOW) stands against other top AI trending news on Wall Street.
China and the US have been at a crossroads over the past year over access to advanced chips and semiconductor equipment as technological rivalry heats up. While the US has been the most aggressive, it might have to rethink its export controls amid reports that Chinese buyers have found a way around them. Therefore, gaining access to its advanced artificial intelligence chips.
In order to limit China’s access to semiconductors for training and powering cutting-edge artificial intelligence, Washington has enforced export controls since 2022. President Joe Biden’s administration issued several directives and export controls that sought to stop China from acquiring the most cutting-edge chips. In the interest of national security, it also prevented China from obtaining sophisticated semiconductor equipment.
However, according to the Wall Street Journal, a clandestine network of brokers has emerged and is increasingly circumventing the restrictions. The report indicates that Chinese buyers might have the upper hand on routing advanced chips through third parties. The report further indicates that six AI servers with restricted Hopper chips have been delivered to at least two Chinese universities in Shenzhen and Wuhan since December.
Singapore’s government has already charged three men in a case that involves the sale of semiconductors that may violate US export laws. “We will not tolerate individuals and companies violating our laws or taking advantage of their association with Singapore to circumvent export controls of other countries,” Home Affairs Minister K Shanmugam told a press briefing.
As it stands, the new administration under President Donald Trump faces an uphill task of finding ways to curb access to advanced technologies through third parties as the technological rivalry heats up. In a research note to investors, analysts at Jefferies reiterated that the US could tighten chip export controls, a development that could escalate the US-China tech war.
The analysts said that Trump has specifically instructed them to use export controls to close any gaps in existing regulations and guarantee and improve the U.S. technological edge. According to Jefferies, this sets the stage for the United States to impose more stringent export regulations on China.
The push for stringent and aggressive restrictions comes as China changes its approach from employing symbolic legal and regulatory changes to investing in advanced technologies. According to an analysis at the Emerging Technology Observatory (ETO), China is currently producing the majority of the fundamental research that may support future computer hardware. If those efforts become commercially viable, the US may soon be unable to use export restrictions to maintain its competitive edge in the design and manufacturing of high-performance microchips.
By doing this, Beijing is indicating that it has taken the time to assess its own economic advantages, disadvantages, and vulnerability to US sanctions and is now more assured of its ability to compete on an equal footing with the US. There are some distinctive features to China’s strategy, such as the establishment of an economic early-warning system, even though some of it can be viewed as mimicking US export restrictions against Chinese tech firms.
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 in Q4 2024.
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ServiceNow (NOW) Introduces AI Agents for Telecom, Enhancing Industry Automation
A team of software engineers at desks working on code for a cutting-edge cloud computing solution.
ServiceNow, Inc. (NYSE:NOW) is a technology company that offers a cloud-based software platform for automating business workflows within an enterprise. It also provides artificial intelligence solutions that help with human resource and customer service management. On March 3, it unveiled AI agents for the telecom industry, affirming its evolution from workflow automation to intelligent orchestration.
Built with NVIDIA AI Enterprise software, the AI agents are designed to drive productivity across the entire service lifecycle in the telecommunication industry. The AI agents will be employed by communications service providers (CSPs) to solve some of the most prevalent, time-consuming customer service and network operations workflows on their own.
“The launch of new AI agents developed specifically for the telecom industry demonstrates our continued commitment to building solutions that help solve the biggest challenges facing business leaders. ServiceNow has been at the forefront of AI innovation for years, and this collaboration with NVIDIA marks the next step in delivering agentic AI-powered automation that transforms how CSPs operate and serve their customers,” said Rohit Batra, general manager and vice president for manufacturing, telecommunications, media, and technology at ServiceNow.
Overall, NOW ranks 1st on our list of top AI trending news on Wall Street. While we acknowledge the potential of NOW 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 time frame. If you are looking for an AI stock that is more promising than NOW but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
