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Aidy Chai
2023-08-30
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3 AI Stocks Not Named Nvidia That Billionaires Can't Stop Buying
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Chai","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":6,"crmLevelSwitch":1,"followedFlag":false},"themes":[],"htmlText":"Share your opinion about this news…","listText":"Share your opinion about this news…","text":"Share your opinion about this news…","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/214414418727064","repostId":"2363945920","repostType":4,"repost":{"id":"2363945920","pubTimestamp":1693410044,"share":"https://www.laohu8.com/m/news/2363945920?lang=&edition=full","pubTime":"2023-08-30 23:40","market":"us","language":"en","title":"3 AI Stocks Not Named Nvidia That Billionaires Can't Stop Buying","url":"https://stock-news.laohu8.com/highlight/detail?id=2363945920","media":"Motley Fool","summary":"Nearly a dozen billionaire investors piled into Nvidia stock during the second quarter. But it's far from the only artificial intelligence company piquing the interest of billionaires.","content":"<html><head></head><body><p>There's no trend on Wall Street that's hotter in 2023 than the rise of artificial intelligence (AI), which involves the use of software and systems to handle tasks normally overseen by humans. It is a technological advancement that's expected to add $15.7 trillion to the global economy by 2030, based on a report from PwC that was released earlier this year.</p><p>The incorporation of machine learning (ML) allows AI-driven software and systems to learn and evolve over time. ML is the secret sauce that gives AI such a wide range of potential utility across most sectors and industries.</p><p>No publicly traded company is more synonymous with AI than <a href=\"https://laohu8.com/S/NVDA\">Nvidia</a>. The company's A100 and H100 AI-inspired graphics processing units (GPUs) are the cornerstone of most high-compute data centers that require ultra-fast processing speeds. It's been estimated that Nvidia could account for around 90% of high-compute AI GPUs in 2024. </p><p>Not surprisingly, Nvidia's blowout operating results and dominant position in AI-driven data centers have made it a popular buy among billionaire money managers. The latest round of form 13Fs, which detail the buying and selling activity of Wall Street's smartest fund managers, shows that <em>11 </em>prominent billionaires were buying Nvidia in the June-ended quarter.</p><p>But Nvidia wasn't the only artificial intelligence stock being bought by billionaire investors during the second quarter. Three other relatively high-profile AI stocks were also being bought hand over fist.</p><h2 id=\"id_29084801\"><a href=\"https://laohu8.com/S/META\">Meta Platforms</a></h2><p>The first AI stock not named Nvidia that billionaires are comfortably piling into is social media giant <a href=\"https://laohu8.com/S/META\">Meta Platforms</a>. During the June-ended quarter, four prominent billionaire investors gobbled up shares, including (number of shares purchased in the second quarter in parentheses):</p><ul><li><p>Jim Simons at Renaissance Technologies (2,623,447).</p></li><li><p>Jeff Yass at Susquehanna International (1,234,113).</p></li><li><p>Chase Coleman at Tiger Global Management (1,108,025).</p></li><li><p>David Tepper at Appaloosa Management (802,500).</p></li></ul><p>Meta uses AI in a multitude of ways. For instance, it's leaning on it to predict what ads and content might be relevant to users on Facebook and Instagram. As a reminder, more than 98% of Meta's revenue comes from advertising on its social media assets. </p><p>And CEO Mark Zuckerberg is overseeing billions of dollars in quarterly spending on Reality Labs, the company's operating segment devoted to virtual/augmented reality and metaverse ambitions. AI absolutely plays a role in creating 3D virtual universes where people will be able to interact with one another and their environments.</p><p>For the moment, billionaires appear to be buying Meta stock because of its dominant position in the social media arena and its valuation. During the second quarter, the company attracted 3.88 billion monthly active users to its family of apps (Facebook, Instagram, WhatsApp, and Facebook Messenger). As the clear go-to among advertisers, this gives the company substantial ad-pricing power.</p><p>Based on operating cash flow, Meta is also the cheapest of the FAANG stocks. Even with big losses at Reality Labs, Meta is sitting on $53 billion in cash, cash equivalents, and marketable securities, and looks to be pacing for nearly $49 billion in operating income from its family of apps in 2023. It can spend big without greatly impacting its bottom line.</p><h2 id=\"id_3492206906\"><a href=\"https://laohu8.com/S/OKTA\">Okta</a></h2><p>A second AI stock not named Nvidia that billionaires can't stop buying is cybersecurity company <a href=\"https://laohu8.com/S/OKTA\">Okta</a>. Similar to Meta, four billionaire fund managers were active buyers during the second quarter, including (second-quarter share purchases in parentheses):</p><ul><li><p>Israel Englander at Millennium Management (574,988).</p></li><li><p>Ken Griffin at Citadel Advisors (515,602).</p></li><li><p>Jeff Yass at Susquehanna International (349,336).</p></li><li><p>Jim Simons at Renaissance Technologies (211,200).</p></li></ul><p>Okta is an identity verification specialist whose platform is cloud-native and reliant on AI and ML. Whereas on-premises security solutions have limitations, Okta's AI/ML-driven platform can be used to defend against AI-driven attacks, and is designed to grow smarter over time when it comes to recognizing and responding to threats. This adaptive security platform is what provides long-term, double-digit growth potential. </p><p>To add to the above, it certainly doesn't hurt that cybersecurity has evolved into a basic necessity. That is, demand for cybersecurity services by businesses isn't going to decline just because Wall Street hits a rough patch or the U.S. economy struggles. Hackers don't take time off from trying to steal sensitive data, which means Okta's subscribers tend to stick around. In short, Okta is generating predictable cash flow from one year to the next.</p><p>On top of taking advantage of Okta's AI ties, billionaires are likely excited about the company's acquisition of Auth0, which was completed in February 2022. Although the costs of integrating Auth0 have been higher than expected, the deal makes complete sense.</p><p>Auth0 provides Okta with a way to bolster its addressable market in customer identity, as well as expand into international markets. It is Okta's ticket to a sizable uptick in operating cash flow during the second half of this decade.</p><h2 id=\"id_3819896419\"><a href=\"https://laohu8.com/S/MSFT\">Microsoft</a></h2><p>The third artificial intelligence stock not named Nvidia that billionaires simply can't stop buying is "magnificent seven" component Microsoft. Not coincidentally, seven billionaires were mashing the buy button on Microsoft stock during the second quarter, including (shares purchased in parentheses):</p><ul><li><p>Israel Englander at Millennium Management (2,534,025).</p></li><li><p>Philippe Laffont of Coatue Management (2,135,750).</p></li><li><p>Ken Griffin of Citadel Advisors (2,041,023).</p></li><li><p>Jeff Yass of Susquehanna International (1,742,377).</p></li><li><p>Steven Cohen of Point72 Asset Management (1,373,840).</p></li><li><p>David Tepper of Appaloosa Management (980,000).</p></li><li><p>Dan Loeb of Third Point (470,000).</p></li></ul><p>Microsoft uses AI throughout its suite of software solutions and products. This includes incorporating AI into its Bing search engine and Edge browser. An AI-driven Bing can provide more-comprehensive answers via search, while also allowing users to remain on the same page to get those answers. </p><p>Perhaps Microsoft's biggest foray into AI solutions has come via its investments in OpenAI, the company responsible for the ultra-popular chatbot known as ChatGPT. OpenAI is behind the software used to power Microsoft's reinvented Bing search engine.</p><p>While billionaires are undoubtedly excited to see how Microsoft will use AI to make our lives easier, they're probably also avid buyers because of the success Microsoft is experiencing in the cloud.</p><p>Azure is the world's No. 2 cloud infrastructure service provider, and enterprise spending is still, arguably, in its early stages. Even with the U.S. economic outlook uncertain, Azure delivered 27% currency-neutral sales growth in the fiscal fourth quarter (ended June 30). </p><p>Likewise, Microsoft is a cash cow that smart investors tend to flock to during periods of uncertainty. It has generated more than $87 billion in operating cash flow over the trailing-12-month period, and closed out fiscal 2023 with over $111 billion in cash, cash equivalents, and short-term investments.</p><p>Microsoft has the luxury of investing in next-big-thing trends like AI without having to worry about its other highly profitable operating segments.</p></body></html>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>3 AI Stocks Not Named Nvidia That Billionaires Can't Stop Buying</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n3 AI Stocks Not Named Nvidia That Billionaires Can't Stop Buying\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-08-30 23:40 GMT+8 <a href=https://www.fool.com/investing/2023/08/29/3-ai-stocks-not-named-nvidia-billionaires-buying/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>There's no trend on Wall Street that's hotter in 2023 than the rise of artificial intelligence (AI), which involves the use of software and systems to handle tasks normally overseen by humans. It is a...</p>\n\n<a href=\"https://www.fool.com/investing/2023/08/29/3-ai-stocks-not-named-nvidia-billionaires-buying/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"OKTA":"Okta Inc.","META":"Meta Platforms","MSFT":"微软"},"source_url":"https://www.fool.com/investing/2023/08/29/3-ai-stocks-not-named-nvidia-billionaires-buying/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2363945920","content_text":"There's no trend on Wall Street that's hotter in 2023 than the rise of artificial intelligence (AI), which involves the use of software and systems to handle tasks normally overseen by humans. It is a technological advancement that's expected to add $15.7 trillion to the global economy by 2030, based on a report from PwC that was released earlier this year.The incorporation of machine learning (ML) allows AI-driven software and systems to learn and evolve over time. ML is the secret sauce that gives AI such a wide range of potential utility across most sectors and industries.No publicly traded company is more synonymous with AI than Nvidia. The company's A100 and H100 AI-inspired graphics processing units (GPUs) are the cornerstone of most high-compute data centers that require ultra-fast processing speeds. It's been estimated that Nvidia could account for around 90% of high-compute AI GPUs in 2024. Not surprisingly, Nvidia's blowout operating results and dominant position in AI-driven data centers have made it a popular buy among billionaire money managers. The latest round of form 13Fs, which detail the buying and selling activity of Wall Street's smartest fund managers, shows that 11 prominent billionaires were buying Nvidia in the June-ended quarter.But Nvidia wasn't the only artificial intelligence stock being bought by billionaire investors during the second quarter. Three other relatively high-profile AI stocks were also being bought hand over fist.Meta PlatformsThe first AI stock not named Nvidia that billionaires are comfortably piling into is social media giant Meta Platforms. During the June-ended quarter, four prominent billionaire investors gobbled up shares, including (number of shares purchased in the second quarter in parentheses):Jim Simons at Renaissance Technologies (2,623,447).Jeff Yass at Susquehanna International (1,234,113).Chase Coleman at Tiger Global Management (1,108,025).David Tepper at Appaloosa Management (802,500).Meta uses AI in a multitude of ways. For instance, it's leaning on it to predict what ads and content might be relevant to users on Facebook and Instagram. As a reminder, more than 98% of Meta's revenue comes from advertising on its social media assets. And CEO Mark Zuckerberg is overseeing billions of dollars in quarterly spending on Reality Labs, the company's operating segment devoted to virtual/augmented reality and metaverse ambitions. AI absolutely plays a role in creating 3D virtual universes where people will be able to interact with one another and their environments.For the moment, billionaires appear to be buying Meta stock because of its dominant position in the social media arena and its valuation. During the second quarter, the company attracted 3.88 billion monthly active users to its family of apps (Facebook, Instagram, WhatsApp, and Facebook Messenger). As the clear go-to among advertisers, this gives the company substantial ad-pricing power.Based on operating cash flow, Meta is also the cheapest of the FAANG stocks. Even with big losses at Reality Labs, Meta is sitting on $53 billion in cash, cash equivalents, and marketable securities, and looks to be pacing for nearly $49 billion in operating income from its family of apps in 2023. It can spend big without greatly impacting its bottom line.OktaA second AI stock not named Nvidia that billionaires can't stop buying is cybersecurity company Okta. Similar to Meta, four billionaire fund managers were active buyers during the second quarter, including (second-quarter share purchases in parentheses):Israel Englander at Millennium Management (574,988).Ken Griffin at Citadel Advisors (515,602).Jeff Yass at Susquehanna International (349,336).Jim Simons at Renaissance Technologies (211,200).Okta is an identity verification specialist whose platform is cloud-native and reliant on AI and ML. Whereas on-premises security solutions have limitations, Okta's AI/ML-driven platform can be used to defend against AI-driven attacks, and is designed to grow smarter over time when it comes to recognizing and responding to threats. This adaptive security platform is what provides long-term, double-digit growth potential. To add to the above, it certainly doesn't hurt that cybersecurity has evolved into a basic necessity. That is, demand for cybersecurity services by businesses isn't going to decline just because Wall Street hits a rough patch or the U.S. economy struggles. Hackers don't take time off from trying to steal sensitive data, which means Okta's subscribers tend to stick around. In short, Okta is generating predictable cash flow from one year to the next.On top of taking advantage of Okta's AI ties, billionaires are likely excited about the company's acquisition of Auth0, which was completed in February 2022. Although the costs of integrating Auth0 have been higher than expected, the deal makes complete sense.Auth0 provides Okta with a way to bolster its addressable market in customer identity, as well as expand into international markets. It is Okta's ticket to a sizable uptick in operating cash flow during the second half of this decade.MicrosoftThe third artificial intelligence stock not named Nvidia that billionaires simply can't stop buying is \"magnificent seven\" component Microsoft. Not coincidentally, seven billionaires were mashing the buy button on Microsoft stock during the second quarter, including (shares purchased in parentheses):Israel Englander at Millennium Management (2,534,025).Philippe Laffont of Coatue Management (2,135,750).Ken Griffin of Citadel Advisors (2,041,023).Jeff Yass of Susquehanna International (1,742,377).Steven Cohen of Point72 Asset Management (1,373,840).David Tepper of Appaloosa Management (980,000).Dan Loeb of Third Point (470,000).Microsoft uses AI throughout its suite of software solutions and products. This includes incorporating AI into its Bing search engine and Edge browser. An AI-driven Bing can provide more-comprehensive answers via search, while also allowing users to remain on the same page to get those answers. Perhaps Microsoft's biggest foray into AI solutions has come via its investments in OpenAI, the company responsible for the ultra-popular chatbot known as ChatGPT. OpenAI is behind the software used to power Microsoft's reinvented Bing search engine.While billionaires are undoubtedly excited to see how Microsoft will use AI to make our lives easier, they're probably also avid buyers because of the success Microsoft is experiencing in the cloud.Azure is the world's No. 2 cloud infrastructure service provider, and enterprise spending is still, arguably, in its early stages. Even with the U.S. economic outlook uncertain, Azure delivered 27% currency-neutral sales growth in the fiscal fourth quarter (ended June 30). Likewise, Microsoft is a cash cow that smart investors tend to flock to during periods of uncertainty. It has generated more than $87 billion in operating cash flow over the trailing-12-month period, and closed out fiscal 2023 with over $111 billion in cash, cash equivalents, and short-term investments.Microsoft has the luxury of investing in next-big-thing trends like AI without having to worry about its other highly profitable operating segments.","news_type":1},"isVote":1,"tweetType":1,"viewCount":30,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":214414418727064,"gmtCreate":1693386971272,"gmtModify":1693387001349,"author":{"id":"4154227734161912","authorId":"4154227734161912","name":"Aidy Chai","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":6,"crmLevelSwitch":1,"followedFlag":false},"themes":[],"htmlText":"Share your opinion about this news…","listText":"Share your opinion about this news…","text":"Share your opinion about this news…","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/214414418727064","repostId":"2363945920","repostType":4,"isVote":1,"tweetType":1,"viewCount":30,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}
