AI Tech Stocks to Watch (TSXV: $KSUM.V) (OTC: $ALSCF) (NASDAQ:
$SMCI) (NASDAQ: $NVDA) (OTQC: $VRSSF) (CBOE Canada: $VERS.NE) @AlsetAI @nvidia @Supermicro_SMCI
@helloVERSES
AI Technology Making Businesses more Efficient and Profitable-
Big Gains
for AI Stocks on the Horizon?
May 21, 2024 – Investorideas.com,
a global investor news source covering Artificial Intelligence (AI) and technology stocks releases a
snapshot looking at the evolution and integration
of AI solutions to make businesses more efficient and profitable. Looking at some
of the stocks in the sector from recently listed companies like Alset Capital Inc. (TSXV:KSUM)
(OTC
:ALSCF) (FSE:1R60), to established
global leaders, recent revenue and funding news shows there is a pot of gold at
the end of the AI rainbow.
This
article is a paid for content service on behalf of Alset Capital Inc. (KSUM.V).
Read this article featuring KSUM in full at https://www.investorideas.com/news/2024/technology/05211AI-Tech-Stocks.asp
According to GlobalData, “The
AI market is forecast to grow at a CAGR of more than 38% between 2023 and
2030.”
Continued: “The AI competitive
landscape is evolving rapidly, with new products or enabling technologies
(e.g., OpenAI’s Sora, Nvidia’s Blackwell GPUs) being launched, new entrants
emerging (e.g., xAI), and partnerships (e.g., Microsoft and Mistral) established.”
Listing its stock in Only March of this
year, Alset Capital Inc. (TSXV: KSUM)
(OTC:
ALSCF) (FSE: 1R60) is off to the
races, announcing last week that its investee company, Cedarcross
International Technologies Inc. signed an agreement with an arm's length
counterparty to distribute 64 Nvidia H100 HGX 8GPU servers, which generates $26
million in revenue for Cedarcross.
(Paid news dissemination on behalf of Alset Capital)
Following Cedarcross' initial distribution agreement
announced on April 22, 2024, this agreement marks a significant advancement in
Cedarcross' distribution capabilities within the high-performance computing
(HPC) server market. Cedarcross has now secured cumulative gross revenue year
to date of approximately $28 million through its HPC server distribution
business vertical alone. These agreements underscore the robust demand and
strategic market positioning of Cedarcross in the HPC landscape. Leveraging key
industry partnerships, including with Earthmade Computer Corp., an authorized
distributor of Super Micro Computer, Inc. (NASDAQ:
SMCI), Cedarcross continues to demonstrate its ability to secure
competitive pricing and expedited lead times for highly sought-after Nvidia (NASDAQ: NVDA) H100
GPU servers.
"This deal represents a significant milestone for
Cedarcross," said Morgan Good, CEO of Alset. "It substantially
increases their revenue, and highlights their strong partnerships, which
provide access to high-performance computing Nvidia GPU servers for both
in-house use and third parties. Additionally, this distribution vertical
enhances their existing compute leasing business unit, fostering diversity in
their offerings and deeper market penetration."
Following this news and momentum, Alset Capital just announced that its second portfolio
company, Vertex AI Ventures, has entered into a strategic AI data engineering
and automation partnership with Nom Nom AI Inc.
Nom Nom is a pioneer in data engineering, security, and
automation as a service. Their knowledge and expertise provides innovative
solutions that leverage artificial intelligence to streamline operations,
reduce operational and capital expenses, and ensure businesses maintain a
competitive edge in today's data-rich environment. With data volumes reaching
unprecedented levels, the demand for sophisticated analytics and scalable
solutions has never been more urgent. Nom Nom's expertise in managing,
integrating, and automating vast datasets positions them as a cornerstone in
the evolving landscape of data management and artificial intelligence. Nom Nom
seamlessly integrates our hardware with their software capabilities, granting
clients comprehensive access to data insights through their user-friendly
interface. Through our investee company Vertex, clients also gain an intuitive
interface that enhances their understanding of data.
The partnership between Vertex AI Ventures and Nom Nom
arguably brings forth a myriad of benefits, including enhanced data
observability, insights, optimization of machine performance, and real-time
analytics for clients utilizing Alset's portfolio companies AI computing infrastructure.
Nom Nom's specialty in data retention and disposition policies ensures data
security and compliance, addressing crucial concerns in today's digital age.
The collaboration between Vertex AI Ventures and Nom
Nom underscores the transformative power of AI in reshaping industries and
driving efficiency. As organizations increasingly turn to automation and AI
technologies to eliminate human error and streamline operations, data security
remains paramount. This partnership addresses these critical needs, empowering
businesses to operate with confidence in a secure and compliant digital
environment. In the future, Nom Nom will provide a user interface for Vertex AI
Ventures clients, the technology will allow Vertex customers to optimize its
energy consumption and minimize costs. Our clients will have real-time insights
on how much power is being utilized and when. Nom Nom's innovative technology
provides detailed analytics and insights to optimize energy, costs, and
performance.
Under the terms of the partnership, Nom Nom will
provide comprehensive data engineering, security and automation services,
including consulting, planning, AI implementation and optimization, and ongoing
architecture maintenance for Vertex AI Ventures customers.
In April, Alset announced another significant revenue deal.
The Company’s investee, Cedarcross International Technologies Inc.
(“Cedarcross”)entered into a two-year AI Computing leasing agreement, with an
arm's length counterparty. The Agreement is expected to generate approximately
CAD$5.5 million in total revenue.
Under the terms of the Agreement, Cedarcross will
provide approximately 700,000 compute hours annually, totaling 1.4 million AI
compute hours over the contract's duration. This agreement, with an esteemed
arm's length third-party enterprise client, underscores Cedarcross growing
influence and capabilities in the realm of AI infrastructure.
Supermicro (NASDAQ:
SMCI), a global leader delivering first to market innovation for
Enterprise, Cloud, AI, and 5G Telco/Edge IT Infrastructure, recently announced financial results for its third
quarter of fiscal year 2024 ended March 31, 2024.
Third Quarter Fiscal Year 2024 Highlights included:
·
Net sales of $3.85 billion versus $3.66
billion in the second quarter of fiscal year 2024 and $1.28 billion in the same
quarter of last year.
·
Gross margin of 15.5% versus 15.4% in the
second quarter of fiscal year 2024 and 17.6% in the same quarter of last year.
·
Net income of $402 million versus $296
million in the second quarter of fiscal year 2024 and $86 million in the same
quarter of last year.
·
Diluted net income per common share of
$6.56 versus $5.10 in the second quarter of fiscal year 2024 and $1.53 in the
same quarter of last year.
·
Non-GAAP diluted net income per common
share of $6.65 versus $5.59 in the second quarter of fiscal year 2024 and $1.63
in the same quarter of last year.
·
Cash flow used in operations for the third
quarter of fiscal year 2024 of $1,520 million and capital expenditures of $93
million.
"We had yet another record quarter with fiscal Q3
revenue of $3.85 billion with non-GAAP EPS of $6.65 per share. This
year-over-year revenue growth of 200% and year-over-year non-GAAP EPS growth of
308% was well above our industry peers," said Charles Liang, President and
CEO of Supermicro. "Strong demand for AI rack scale PnP solutions, along
with our team’s ability to develop innovative DLC designs, enabled us to expand
our market leadership in AI infrastructure. As new solutions ramp, including
fully production ready DLC, we expect to continue gaining market share. As
such, we are raising our fiscal year 2024 revenue outlook from $14.3 to $14.7
billion to a new range of $14.7 to $15.1 billion."
Looking at efficiencies, Supermicro also recently announced it is addressing the most
demanding requirements from customers who want to expand their AI and HPC
capacities while reducing data center power requirements. Supermicro delivers
complete liquid-cooled solutions, including cold plates, CDUs, CDMs, and entire
cooling towers. A significant reduction in the PUE of a data center is quickly
realized with data center liquid-cooled servers and infrastructure, and this
can reduce overall power consumption in the data center by up to 40%.
VERSES AI (CBOE
Canada: VERS) (OTCQX:VRSSF), a cognitive computing company specializing in
biologically inspired distributed intelligence, with their flagship offering,
Genius™, announced on May 17th,
that it closed the third and final tranche
of its previously announced non-brokered private placement of special warrants , whereby the Company has
completed the issuance of 674,700 Special Warrants at a price of $1.00 per
Special Warrant. Further to the Company's news release dated April 18, 2024 and
April 30, 2024, the Company has raised gross proceeds of $10,000,000 through
the sale of 10,000,000 Special Warrants in the Private Placement.
In mid-April the company gave an update
on its tech, noting, “For an early-stage company we have so much going on,
especially in the last few months. We wanted to provide this update to share
our progress,” said Gabriel René, Founder and CEO of VERSES.
From the news: In the
Company update last year, VERSES announced the merger of many of their previous
technologies and applications into a single developer platform and data
pipeline called Genius™ to enable developers to develop and deploy intelligent
agents. VERSES launched their Genius™ Private Beta program in October 2023 to
enable early access to partners across multiple industries to showcase the
applicability of Genius™. To date, the Company has announced the following 6
Beta engagements: Nalantis, Cortical Labs, SimWell, NASA’s Jet Propulsion
Laboratory (JPL), Volvo Cars, and Blue Yonder.
For investors looking for the direction
of AI stocks and revenue potential moving forward, the stock that incited the
AI stock frenzy by beating estimates in its last earnings report is set to
release new numbers this week.
Nvidia (NASDAQ:
NVDA) will host a conference call on
Wednesday, May 22, at 2 p.m. PT (5 p.m. ET) to discuss its financial results
for the first quarter of fiscal year 2025, which ended April 28, 2024.
The call will be webcast live (in
listen-only mode) on investor.nvidia.com. The company’s prepared remarks will
be followed by a question-and-answer session, which will be limited to
questions from financial analysts and institutional investors.
Ahead of the call, NVIDIA will provide
written commentary on its first-quarter results from its CFO, Colette Kress.
This material will be posted to investor.nvidia.com immediately after the
company’s results are publicly announced at approximately 1:20 p.m. PT.
If Nvidia can pull off another winning
earnings report, AI stocks will most likely see another run as they have
following the leader, Nvidia, in the last AI bull run.
For
a list of artificial intelligence stocks on Investorideas.com
visit here
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