AI stocks like Amazon and Meta Platforms are performing well, attracting investments from billionaire David Tepper.
From Nasdaq: 2024-12-07 03:17:00
- The AI field is growing, with hedge fund Appaloosa Management, led by David Tepper, investing in AI stocks like Amazon and Meta Platforms. Amazon’s AI services through AWS have boosted sales, with AWS accounting for 60% of operating income. Meta Platforms uses AI to drive traffic and engagement, posting strong financial results.
- Amazon’s diverse business, including AI services through AWS, has led to sales growth. Meta Platforms relies heavily on AI algorithms for ad revenue. Both companies show strong financial performance, with AWS being Amazon’s most profitable segment. Meta Platforms plans to invest more in AI infrastructure for further growth.
Read more at Nasdaq: Billionaire David Tepper Has 14% of His Portfolio Invested in These 2 Brilliant Artificial Intelligence (AI) Stocks