Ghazal Ahmed
4 min read
In This Article:
We recently published a list of 12 AI Stocks Making Waves on Wall Street Today. In this article, we are going to take a look at where Palantir Technologies Inc. (NASDAQ:PLTR) stands against other AI stocks that are making waves on Wall Street today.
The United States recently issued guidance threatening companies not to use advanced computer chips from China, including Huawei’s Ascend AI chips. However, China has now urged the country to “immediately correct its wrongdoings” and stop “discriminatory” measures against it.
A spokesperson for China’s Ministry of Commerce has said that the United States has abused its export control measures. He said that the country has imposed stricter restrictions on Chinese chip products based on unfounded allegations, further explaining how the said restrictions contain discriminatory measures and tend to distort the market.
The U.S. Commerce Department had issued the guidance last week, with its Bureau of Industry and Security stating that “these chips were likely developed or produced in violation of U.S. export controls.”
“The U.S. has been abusing export control measures, imposing stricter restrictions on Chinese chip products under unfounded accusations… China firmly opposes this… Trying to trip others won’t make oneself run faster.”
Opposing the unilateral bullying from the US’s end, the Chinese spokesperson said that the restrictions have infringed upon the legitimate rights and interests of Chinese companies. The country has been accused of undermining the preliminary trade agreement reached in Geneva, Switzerland.
The spokesperson further urged the country to work with China to jointly safeguard the consensus concluded in the Geneva talks.
“If the United States continues to cause China substantive harm, China will take resolute measures to safeguard its legitimate rights and interests.”
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).
Number of Hedge Fund Holders: 64
Palantir Technologies Inc. (NASDAQ:PLTR) is a leading provider of artificial intelligence systems. On Tuesday, May 20, Palantir announced that it has entered into an AI-powered partnership with Divergent Technologies, Inc. to revolutionize on-demand advanced manufacturing. The agreement aims to provide access to Divergent’s advanced manufacturing system through Palantir’s Warp Speed platform for defense and commercial applications.
