We recently published a list of 9 Trending AI News Updates Driving US Markets. In this article, we are going to take a look at where Surf Air Mobility Inc. (NYSE:SRFM) stands against other trending AI news updates driving US markets.

As the global AI race heats up, the Trump Administration’s downsizing of federal agencies poses a risk to AI development in the US. His cost-cutting measures are already impacting AI research efforts. Yesterday, a key federal AI research agency witnessed layoffs and faced potential budget cuts. Several US National Science Foundation employees, with expertise in AI, were terminated, threatening the agency’s ability to sustain AI research.

The government’s latest move also affected the Directorate for Technology, Innovation, and Partnerships within the National Science Foundation. The department played a key role in funneling government grants related to AI. Industry experts heavily criticized the downsizing.

Meanwhile, Chinese buyers are circumventing US export curbs to acquire the latest AI chips from top US manufacturers, exacerbating Trump’s challenges in cutting off the transfer of American technology to China. Washington imposed export controls in 2022 to curb China’s access to semiconductors for training AI models, but underground brokers are still managing to bypass the controls.

“China will help bridge the technological divide and prevent technological innovation from becoming a game for the rich countries and the wealthy,” said Chinese politician and computer scientist, Lou Qinjian, at the start of the annual National People’s Congress.

We selected AI stocks by reviewing news articles, stock analysis, and press releases. We listed the stocks in ascending order of their hedge fund sentiment taken from Insider Monkey’s database of over 1000 hedge funds.

Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).

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Surf Air Mobility Inc. (NYSE:SRFM) 

Number of Hedge Fund Holders: 1

Surf Air Mobility Inc. (NYSE:SRFM) is known for its leading regional air mobility platform. Its offerings include software and charter flight operator services, as well as the development of electric and hybrid powertrains for aircraft. The company is focusing on enhancing its AI-powered airline software operating system and working toward certification of electric powertrain technology for better safety, efficiency, and profitability.

On March 4th, Surf Air Mobility Inc. (NYSE:SRFM) announced agreements with six air operator beta customers to use its AI-powered software platform SurfOS, developed by AI leader Palantir Technologies (NASDAQ:PLTR). The launch customers will use SurfOS to improve charter flight distributions, flight pricing, and customer relationship management.

“We believe that SurfOS will be the category-defining technology platform for the advanced air mobility industry. We are creating an operating system that is addressing the needs of aircraft operators, brokers, and owners, all of whom have a real need for modern aviation software enhanced with AI and big data. Individually, those industry participants could not affordably develop this broad suite of customized applications or organize their data onto a single platform. Given that we work with over 400 air operators through our On Demand platform, we are well positioned to bring SurfOS to market at scale.”

-said Sudhin Shahani, co-founder of Surf Air Mobility Inc.

Overall, SRFM ranks 9th on our list of trending AI news updates driving US markets. While we acknowledge the potential of SRFM as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than SRFM but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

 

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Disclosure: None. This article is originally published at Insider Monkey.