We recently published a list of 10 Must-Watch AI Stocks on Investors’ Radar. In this article, we are going to take a look at where Stem, Inc. (NYSE:STEM) stands against other must-watch AI stocks on investors’ radar.
With everyone competing towards supremacy in artificial intelligence, the latest country to intensify its efforts has been Britain. As reported by Reuters, British Prime Minister Keir Starmer said on Monday, January 13th, that he wanted to make the UK an artificial intelligence “superpower”. To reach this goal, the Prime Minister has promised to take a pro-innovation approach to regulation, make public data available to researchers, and create zones for data centers.
READ ALSO: Top 10 AI Stocks on Latest Analyst Ratings and News and 15 Important AI News and Ratings on Investors’ Radar
Starmer plans to make artificial intelligence a key part of his strategy to boost the economy. According to the government, the technology could improve productivity by 1.5% a year, translating to an extra 47 billion pounds ($57 billion) annually over a decade.
“Britain will be one of the great AI superpowers. We’re going to make the breakthroughs, we’re going to create the wealth, and we’re going to make AI work for everyone in our country”.
Another country that has been actively striving towards reaching supremacy when it comes to AI has been the US. In its latest efforts, the US government is moving to restrict artificial intelligence chip and technology exports further. Dozens of countries will be facing new restrictions on the export of advanced computer chips and other artificial intelligence (AI) technology. According to officials, the new rules are intended to make sure that “the world’s AI runs on American rails” and keep it out of the hands of “malicious actors” who could use it to threaten the United States.
Even though the US government may think it’s heading in the right direction, many top tech companies don’t necessarily agree.
“In the wrong hands, powerful AI systems have the potential to exacerbate significant national security risks, including by enabling the development of weapons of mass destruction, supporting powerful offensive cyber operations, and aiding human rights abuses, such as mass surveillance”.
Chipmaker Nvidia is also against these restrictions and will be the most impacted by the plan. According to the chipmaker, if the restrictions are implemented, they would not “mitigate any threat” but only “weaken America’s global competitiveness” and undermine its innovation.
“By attempting to rig market outcomes and stifle competition—the lifeblood of innovation—the Biden Administration’s new rule threatens to squander America’s hard-won technological advantage”.
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.
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 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).
Stem Inc (STEM): Transforming Energy with AI
A technician in a lab coat standing in a cleanroom with energy storage systems in the background.
Stem, Inc. (NYSE:STEM) is a global leader in artificial intelligence (AI)-enabled clean energy software and services. On January 14, the company announced that its solar monitoring and optimization solutions will support the commercial operation of a 484 megawatt (MW) solar portfolio for Neovolt, one of the largest asset owners in Hungary. The five-year agreement is the company’s largest software deal in EMEA, demonstrating its AI-driven value and utility-scale traction in Eastern Europe. It will allow Stem’s AI-powered PowerTrack Web, its software platform, to monitor, optimize, and control eight utility-scale sites in Hungary. This will in turn enhance plant performance through real-time updates, enhanced forecasting, and robust troubleshooting and security measures. The collaboration underscores how Stem’s AI solutions are transforming renewable energy management.
“Stem continues to strengthen its leading position in utility-scale clean energy asset monitoring and control across the growing Eastern European market. We are proud to have supported the successful commissioning of Neovolt’s renewable energy portfolio with our edge-to-cloud solutions. This five-year agreement reflects the culmination of Stem’s commitment and expertise in supporting seamless project execution and management of large-scale renewable asset portfolios”.
Overall, STEM ranks 10th on our list of must-watch AI stocks on investors’ radar. While we acknowledge the potential of STEM as an investment, our conviction lies in the belief that some 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 STEM but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap
Disclosure: None. This article is originally published at Insider Monkey.
Sign Up For Daily Newsletter
Be keep up! Get the latest breaking news delivered straight to your inbox.
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
