Meta Platforms: A History of AI Utilization
Meta Platforms (NASDAQ: META) has a noteworthy legacy of employing AI to its advantage. From facial recognition in photos to curating relevant content on its social media channels, Meta has consistently capitalized on AI systems. Unlike its industry competitors, Meta lacks a cloud infrastructure service but has ingeniously circumvented this obstacle with the open-source Llama AI model, offering it across major cloud services for a fee. Additionally, it provides a suite of complimentary AI-powered tools to aid advertisers, anticipating an upsurge in its digital advertising business in line with improving economic conditions. Furthermore, trading at a mere 22 times forward earnings, Meta presents an attractive investment opportunity.
Palantir Technologies: Embracing AI with Aplomb
Palantir Technologies (NYSE: PLTR) boasts a successful two-decade track record in developing AI-driven data analytics. Reacting swiftly to the mainstreaming of AI, the company expeditiously integrated generative AI models into its suite of data analytics tools and introduced the Palantir Artificial Intelligence Platform (AIP), igniting considerable enthusiasm in the market. Observing a rebound in demand for data analytics and AI services, particularly in generative AI, Palantir’s PEG ratio of less than 1 underscores its stock’s extraordinary value.
Tesla: AI as the Key to Future Prosperity
Tesla (NASDAQ: TSLA) has achieved eminence by popularizing electric vehicles (EVs). While the company’s recent hit, the Model Y, has become the best-selling car globally, the magnitude of its future success is inextricably linked to AI. The realization of its “full self-drive” system’s potential would significantly benefit shareholders. As per Ark Investment Management’s Big Ideas 2023 report, the advent of robotaxis could amass $4 trillion in revenue by 2027. With an estimated 2.7 million vehicles gathering data, Tesla stands to gain an unparalleled technological advantage, should it crack the code on autonomous driving. Furthermore, Tesla’s valuation at 6 times forward sales presents a favorable proposition for an industry leader abundant in data.
