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Technology Stocks
IPOs 2024: Tempus AI Addresses Medical Diagnostic Use Case
According to a market report, the use of AI in medical diagnostics is expected to grow at 25% CAGR from $0.8 billion in 2022. Chicago-based Tempus AI (Nasdaq: TEM) is a leading player in the market that recently went public to a weak market response.
>>>AI Unicorns: Anthropic Focuses on Building a Safer AI Model
The rapid rise of generative AI technology has led to a growing concern around safety and security around the development of the technology. Backed by both Google and Amazon, Anthropic PBC is a public benefit company (PBC) that is focused on ensuring that they build systems that people can rely on and generate research about the opportunities and risks of AI.
>>>AI Unicorns: Automation Anywhere Moves Beyond RPA
According to a recent report, the global robotic process automation (RPA) market is expected to grow at 40% CAGR from $2.94 billion in 2023. San Francisco-based Automation Anywhere is another high growth AI unicorn that is experiencing a similar meteoric growth.
>>>AI Unicorns: Could OpenAI Become the Most Successful PaaS Company?
When it comes to AI, the one company that comes to everyone’s mind is OpenAI. It was founded in 2015 as a non-profit entity by Sam Altman, Elon Musk, Ilya Sutskever, Greg Brockman, John Schulman, and Wojceih Zaremba to develop a useful version of AI. OpenAI was set up with the intention to act as a countermeasure for the possibility of monopolization of AI technology by tech giants.
>>>AI Unicorns: Scale AI Labels its Way to Unicorn Status
According to a recent report, the global AI market is estimated to grow at 36% CAGR from $214.6 billion in 2024 to $1.339 trillion by 2030. This has accelerated the growth of companies like Scale AI that are providing resources for development of AI solutions.
>>>Cloud Stocks: Analysis of Docusign’s Lexion Acquisition
Digital signature services provider Docusign (Nasdaq: DOCU) recently announced strong quarterly results. The company is looking to expand its market reach through a focused AI-based strategy for document management.
>>>Cloud Stocks: Veeva Addresses Weak Market by Expanding Offerings
The global healthcare cloud computing market is expected to grow 18% annually to reach $320.9 billion by 2034 from $41.1 billion in 2024. The growth in the market is estimated to be driven by the increasing adoption of AI and data analytics in the industry along with the expansion of telehealth and remote monitoring capabilities. Veeva (NYSE: VEEV) recently announced its quarterly results that continued to impress the market, but the weak outlook dimmed market expectations.
>>>Cloud Stocks: Workday Focuses on AI Offerings to Combat Macro Conditions
Enterprise services provider Workday (NASDAQ: WDAY) recently announced its first quarter results that surpassed market expectations. Due to the macro conditions, Workday reduced its subscription outlook for the year, sending the stock falling 11% in the after-hours trading session.
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