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Oppenheimer has raised the price target for AppLovin Corporation to $480, emphasizing the company's advancements in AI-powered advertising technology and e-commerce growth. The article highlights the increasing power demands of AI and cloud computing, suggesting that data centers may soon consume more electricity than entire cities. This surge in energy needs raises concerns about meeting carbon dioxide emission targets, as both renewable energy and natural gas will be necessary to support this growth.
Uber is also making headlines by establishing a new data labeling division called Scaled Solutions, aimed at supporting AI model development. This division will employ gig workers to assist both internal projects and external clients, including companies like Aurora Innovation and Niantic. The article underscores the competitive landscape of AI stocks, with Apple Inc. being a key player, as it continues to innovate and expand its market presence.
• Oppenheimer raises AppLovin's price target, citing AI and e-commerce growth.
• Uber's new division will label data for AI models, supporting various clients.
AI-powered advertising utilizes algorithms to optimize ad placements and targeting for better engagement.
Data labeling involves annotating data to train AI models, crucial for improving their accuracy.
Cloud computing provides on-demand computing resources over the internet, essential for AI applications.
AppLovin specializes in AI-driven advertising technology, enhancing e-commerce strategies for businesses.
Uber is expanding its operations into AI by creating a division focused on data labeling for various applications.
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