UBS: 8% of Companies Have Large AI Deployments; Picks Amazon, TI
UBS highlights Amazon and Texas Instruments as AI plays after a survey found only 8% of firms have large-scale AI deployments.
UBS released a report Sept. 19 highlighting artificial intelligence investment opportunities in technology, media, and communications. The bank said a survey of businesses found only 8% have large-scale AI deployments currently, and analysts expect AI infrastructure spending to increase as companies look to reduce IT budgets.
The report named Amazon.com Inc (AMZN) and Texas Instruments Inc (TXN) as beneficiaries. Amazon is the largest cloud provider through AWS, which houses much of the AI compute infrastructure. Amazon's price-to-sales ratio stands at roughly 5.5x, above the 3.4x historical median, according to the report. The company's price-to-earnings ratio is 20.41x, down from a five-year median of 49.42x, reflecting recent losses. Insiders sold $365 million in Amazon shares over the past three months. Among 51 large institutional holders tracked by the report, 23 added to positions and 25 trimmed.
Amazon carries an Alpha Score of 59 out of 100, labeled Moderate, according to AlphaScala. Texas Instruments has an Alpha Score of 46, labeled Mixed.
Amazon shares traded at $245.96 on the session, down 0.99%.
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