Several interesting developments in the AI market are expected in September 2024. Let’s consider three stocks that might attract investors' attention.
Honda Motor Company
Honda Motor Company (NASDAQ: HMC) made it to this list due to its activities in two directions: electric vertical takeoff and landing (eVTOL) and AI. Over the past three months, HMC shares have fallen by 3.6%. Honda collaborates with SiLC Technologies to develop FMCW lidar-based solutions for autonomous flights. In August, the company reported a 105% increase in global car production compared to the previous year.
Pegasystems Inc.
Pegasystems Inc. (NASDAQ: PEGA) develops AI solutions for government and commercial organizations. The company partners with Google Cloud, AWS, and Microsoft Azure to integrate its solutions. In the second quarter of 2024, Pegasystems reported a 119% increase in free cash flow and a net profit of $6.6 million compared to a loss of $46.8 million a year ago. PEGA shares have risen by 13% over the past three months.
Advanced Micro Devices
Advanced Micro Devices (NASDAQ: AMD) is actively working on prioritizing AI chips over high-end gaming GPUs. In an interview with Tom's Hardware, the head of the Computing and Graphics division, Jack Huynh, emphasized the importance of strategic developer capture. In August, AMD acquired ZT Systems for $4.9 billion, and in July, SiloAI, Europe's largest private AI lab. AMD shares have fallen by 7% over the past three months but have growth potential.
In the AI market, stocks of companies like Honda, Pegasystems, and AMD may be of significant interest to investors. Their strategies and developments in AI make them important market players in September 2024.
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