AI Companies Shaping Tomorrow: A Jetsons-Worthy Portfolio Selection
Artificial Intelligence or “AI” seems to be the new, hot two letter word on everybody’s lips. If you’re a CEO mentioning AI on an earnings call, your company is likely hot too. It’s hard to believe back in the 80’s a cartoon family of the future, 2060 to be exact, predicted a world in which we are practically living now. While we watched the residents of Orbit City with their video calls, smartwatches and chatbots we laughed at how futuristic it seemed. However, some aspects of today’s world may now even seem futuristic to the Jetsons!
Contender for being the hottest word on the Street, NVIDIA Corporation (NVDA) and the term “AI” go together like PB&J. It’s especially captivating investors this week, when the company announces earnings tomorrow, on the 21st. The chipmaker’s market cap recently outpaced Amazon, at almost $1.8Tn and has boosted smaller AI companies share prices, with its recent disclosure of investments. We’ve decided to follow the AI trend and highlight some lesser-known “Jetson-esque” companies…
George Jetson, the digital index operator at Spacely Space Sprockets complains about being overworked for having to push a button up to five times, for three hours, three days a week…they even predicted Gen-Z! Today, George would discover jobs that require even less work, due to the capabilities of AI. Chips are now the new sprocket and CEVA, Inc. (CEVA) is a leading licensor of signal processing platforms and artificial intelligence processors to chip manufacturers. Their licensed products cover a wide range of applications, including smartphones, consumer electronics, automotive, IoT devices, and more. Most recently, the company released its Q4 and Full Year financialsthat beat EPS consensus but fell short on revenues. When it comes to flying vehicles, the Jetsons automotive innovations are still a bit ahead of 2024. However, today’s Jet AI, Inc. (JTAI) technology, would likely still impress George with its CharterGPT platform that assists in booking private air travel. The company recently announced its partnership with leading web and app-based aviation management platform, FL3XX.
The JetAI private jet service would have been best for the lackluster flier George’s wife, Jane. Jane is a futuristic fashionista who once even sported a new part of glasses that could see into the future. Despite having further advanced products, we think Jane would still be impressed with online retailer Innovative Eyewear, Inc.’s (LUCY) smart glasses. These glasses offer tech features such as built-in Bluetooth audio connectivity, phone control buttons and instant AI voice assistant access. Recently, the company announced it has begun shipping products from its Nautica Smart Eyewear Collection. While Jane is known for shopping at her favorite local galaxy retailer Mooning Dales, George is not always as fond of her spending habits. The couple may have found todays cloud-based AI lending platform, Upstart Holdings, Inc. (UPST) useful for financing any personal loans, consolidating credit card debt or refinancing their fleet of flying saucers. The company recently expanded their AI-Powered vehicle financing nationwide.
The Jetsons teenage daughter and gadget gal, Judy is fascinated with tech devices, including the family’s spaceship. After having obtained her fliers permit, Judy likes to fly at a high mach and hone her aviation skills on trips to the mall with her mother. George and Jane would have probably benefited from utilizing the insurance technology company Roadzen Inc. (RDZN), for any speeding slipups Judy may encounter, in space. Roadzen offers auto insurance services through artificial intelligence technology and recently, set a new revenue milestone reporting Q3 revenue of $15.64M, a 372% increase year-over-year. Judy’s younger brother Elroy, spends his time studying all things related to space science while attending Little Dipper School. Today, we envision galaxy genius Elroy would have found the platform for online live learning Nerdy, Inc. (NRDY), to be out of this world. The platform utilizes AI to connect users to tutors, instructors, specific subject experts and educators who offer a variety of learning experiences from one-on-one to group sessions as well as tutoring, etc. Recently, Varsity Tutors, a Nerdy company, was selected by the MAISA as a vetted provider for school districts in Michigan.
Robotic housekeeper Rosie would be a tough one to impress with today’s technology since she basically encapsulates 2024’s advances. However, she’d be even more efficient if she had AI powered platforms at her fingertips to help her multitask. Presto Automation Inc.’s (PRST) AI solutions are used to assist the restaurant industry which would have streamlined Rosie’s duty to take orders and feed the family. The company announced its AI solution Presto Voice, is projected to capitalize on strong momentum in its recent release, highlighting the 2024 annualized run rate projection. While we have yet to uncover a pet related AI specific company, we think Astro’s favorite AI company would be SoundHound AI, Inc. (SOUN) who specializes in voice, sound and lateral language AI technologies. The company will be reporting their earnings next week on Thursday, February 29th.
As we continue to further our advances into technology through utilization of artificial intelligence, it will be interesting to see what other “Jetson-esque” advances will become reality. Lesser-known AI companies may be on the verge of taking off as investors continue to become even more fascinated with the evolving tech sector, buying up shares in hopes their portfolio will be exclaiming, “Hooba-dooba-dooba!”, in the near future.
