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One of the most thrilling adventures in investing is the current epoch of artificial intelligence. This transformative wave has buoyed numerous companies, yet only a select few, like Nvidia (NASDAQ:NVDA), Microsoft (NASDAQ:MSFT), and Super Micro (NASDAQ:SMCI), have surfed in the slipstream. A recent proclamation from Goldman Sachs highlights the trio of stock groups poised to ride the AI tsunami. In the vanguard are firms shaping the AI infrastructure; following close are companies fashioning AI-tailored products, with a final set of beneficiaries leveraging AI’s potential to enhance productivity. Herein, let’s spotlight one gem from each trove. Behold, the three musketeers of AI growth.
Google’s Alphabet (GOOG, GOOGL)
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Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) pioneers AI infrastructure, notably with its Gemini AI system, and retails AI-infused wares via its Google Cloud arm. Heralded in Goldman’s first cohort of AI flagbearers, GOOG now dazzles under the spotlight of Wedbush’s “Best Ideas List.” The invigorating saga continues with Alphabet’s galloping strides in generative AI, as legions of firms flock to nest in Google’s AI-powered assistant.
And lo, behold the ascent of Gemini, the AI maestro adept at decoding and condensing an eclectic array of media formats. Moreover, Google Cloud’s coffers swell in resonance with the AI symphony, boasting a momentous 26% revenue uptick vis-à-vis its year-prior quarter. In this grand narrative of technological flourishing, GOOG stands undeniably as a vanguard, beckoning the fortuitous winds of AI growth.
ServiceNow (NOW)
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ServiceNow (NYSE:NOW) presents a cornucopia of AI-powered delights, nestling generously within Goldman’s second cohort of AI torchbearers. NOW’s Now Assist is the paragon of AI-enabled productivity enhancement, while its Vancouver Platform emerges as a haven of automation and AI armory, safeguarding firms amidst the crucible of security and regulatory labyrinth.
An extraordinary alliance blooms as ServiceNow births an AI consultant suite in cahoots with Nvidia and consulting luminary Accenture (NYSE:ACN). The reverberations of this communion are bound to resonate across the plains of success in the mid to long term, courtesy of ServiceNow’s laudable repute and the luminary partnership it entangles itself within.
The prophecy engulfs NOW with radiant optimism, as Robert W. Baird chants the hymn of escalating revenue from Washington, foreseeing a meteoric climb that could bear substantive fruit in the days to come.
Revolutionizing Drug Discovery: Eli Lilly Poised for Growth with AI Technology
Boosting Productivity with Artificial Intelligence
Drug maker Eli Lilly’s (NYSE: LLY) productivity stands to receive a tremendous, enduring push from AI technology. The implementation of this cutting-edge technology simplifies and streamlines what has historically been a protracted and laborious drug discovery process.
The utility of AI lies in its ability to rapidly identify the molecules most likely to meet the stringent criteria necessary for safe and effective treatments from the vast array of billions of available molecules. Due to AI’s proficiency in evaluating the characteristics of all these molecules, it dramatically enhances the success rate of drug candidates.
A Game-Changing Partnership with Schrodinger
In a strategic move in October 2022, Eli Lilly inked a groundbreaking agreement valued at up to $425 million with Schrodinger (NASDAQ: SDGR), a prominent player in the realm of AI-powered drug discovery platforms. Schrodinger asserts that its platform can cut in half the time required to pinpoint suitable drug development candidates.
Indeed, this bold collaboration positions Eli Lilly at the forefront of innovation in the pharmaceutical industry, leveraging AI to accelerate and refine the drug discovery process, potentially leading to a new wave of breakthrough treatments.
Investor Confidence and Future Prospects
Investors are eyeing Eli Lilly’s forward-thinking approach to integrating AI technology into its operations with optimism. The company’s commitment to leveraging AI for enhanced productivity and efficacy in drug development has garnered a positive reception from industry analysts.
With a bank’s bullish $870 price target and an “outperform” rating on the shares, investor confidence in Eli Lilly’s future growth trajectory remains high. This strategic focus on automation and standardization is likely to act as a significant catalyst for NOW stock and pave the way for sustained success in the competitive pharmaceutical landscape.
As Eli Lilly continues to harness the power of AI to drive innovation and efficiency in drug discovery, the company is poised to carve out a distinct competitive advantage and potentially usher in a new era of transformative breakthroughs in healthcare.
