Citi's Featured Stocks in the Artificial Intelligence Sector

As artificial intelligence continues to develop, demand is growing for technologies needed to store and process data. Citi has identified three companies in this direction: MongoDB, Snowflake, and Palantir.

MongoDB is one of Citi's primary choices. Revenue from the company's Atlas platform increased by 29%. The bank believes that the transition from legacy databases to modern cloud systems will continue to drive demand for MongoDB's services in the future.

Citi also views Snowflake positively. As artificial intelligence usage grows, the need for data storage and processing increases, creating favorable conditions for the company. Snowflake's AI Data Cloud and Cortex help businesses manage and utilize large volumes of data. Recently, Unlimitail selected Snowflake's platform to manage its new advertising network.

Palantir is another of the bank's favorites, helping companies with data processing and artificial intelligence implementation. Citi focuses on the fact that Palantir's programs help users achieve concrete financial results. Recently, the company has begun collaboration with Rackspace Technology and GNP Seguros, one of Mexico's largest insurance companies.

Source: Investing.com