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AI industry 5 Min Read Nov 15, 2022
Leading AI IPOs worldwide in 2022
Published By : Dr Nivash Jeevanandam
The use of AI in corporate innovation is becoming increasingly popular today. Hundreds of AI startups are joining the stock markets this year alone. According to Zion Market Research, the global artificial intelligence market is anticipated to increase from $59.7 billion in 2021 to $422.4 billion by 2028. Robotics, automation, and AI are disrupting almost every business.
This article compiles the leading companies' initial public offerings (IPOs) in 2022.
Palantir Technologies Inc. (PLTR)
As a software business specializing in data analytics, Palantir Technologies relies on artificial intelligence. IDC said in September 2022 that Palantir had become the most profitable and widely used AI software platform worldwide. The intelligence and defence industries in the United States account for a significant portion of Palantir's revenue. The U.S. Army Materiel Command awarded the corporation a new $85.1 million contract to aid in deploying artificial intelligence and machine learning technologies to enhance equipment reliability, perform predictive maintenance, and enhance supply chain efficiency. PLTR stock, which ended trading on November 10 at $7.64, has a "buy" rating from Bank of America with a $13 price target.
Microsoft plans to build a new supercomputer on its Azure cloud platform around 2020. The OpenAI project collaborated with the developers of this supercomputer so that we could use it to train AI models, with the result being the creation of massive AI models and accompanying infrastructure for use by other companies and programmers. Microsoft Designer, a graphic design tool powered by AI technology that can make custom social media posts, invitations, and other images, was released in October. MSFT stock, which ended trading on November 10 at $242.98, has a "buy" rating and a $300 price target at Bank of America.
Human resource management is a core area of expertise for Workday, a cloud-based application provider. Shift scheduling and prioritizing, hiring and staffing problems, and shifting labour demand may all be handled with the help of Workday's unique AI-based optimization engine. In addition, the artificial intelligence (AI) powered virtual help assistant Barista from Expressive was incorporated into Workday in April 2022. WDAY stock, which ended trading on November 10 at $153.13, has a "buy" rating from Bank of America with a $220 price target.
Alphabet, the corporation that owns both Google and YouTube, employs AI and automation in nearly every part of its operations, from setting ad prices and promoting content to preventing spam in Gmail. It also owns autonomous car startup Waymo, which in 2020 will roll out the first fully driverless commercial taxi service, and artificial intelligence software subsidiary DeepMind. After closing at $93.94 on November 10th, GOOGL stock is now valued at $114 by Bank of America, which has assigned it a "buy" recommendation.
International Business Machines Corp. (IBM)
IBM has spent years researching how to use best its artificial intelligence supercomputer, Watson, in the fields of medicine, finance, law, and education. When Watson-powered initiatives in genomics and cancer failed to meet expectations, IBM sold off its healthcare data and analytics assets in early 2022. Nonetheless, IBM is still a frontrunner in other AI technology, and its AutoML and AutoAI solutions can aid data scientists in creating and training AI and machine learning models. IBM stock, which ended trading on November 10 at $141.23, has a "buy" rating and a $145 price target at Bank of America.
Amazon has infused artificial intelligence (AI) into every facet of its operations, from product recommendations to ad targeting to its cloud computing service, Amazon Web Services. As a result, many American homes have already installed Alexa, a virtual assistant developed by Amazon. Amazon also provides several AI-powered tools and services to complement its AWS cloud offerings, such as sophisticated text analytics, automatic code reviews, and chatbots. In addition, Amazon spent $1.7 billion to acquire iRobot Corp. (IRBT) in August, a move that might increase the company's foothold in the home automation market and strengthen its position in the artificial intelligence (AI) industry. AMZN stock, which ended trading on November 10 at $96.63, has a "buy" rating and a $137 price target at Bank of America.
