Open Text Corporation (OTEX) Unveils Cloud Editions (CE) 24.4 with AI-Driven Innovations to Enhance Data Connectivity and Streamline Business Operations Gaylord Contreras | usagoldmines.com

We recently compiled a list of the 10 Emerging AI Stocks You Should Keep on Your Radar. In this article, we are going to take a look at where Open Text Corporation (NASDAQ:OTEX) stands against the other AI stocks you should keep on your radar.

As reported by CNBC on November 13, OpenAI’s “blueprint for U.S. AI infrastructure” outlines plans for AI economic zones, utilizing the U.S. Navy’s nuclear expertise, and attracting private investment in government projects. The proposal includes a North American AI alliance to compete with China and a National Transmission Highway Act to modernize the grid. OpenAI views AI as a transformative technology, driving job creation, economic growth, and advancements in energy and chip manufacturing.

The blueprint recommends speeding up permitting processes and creating research hubs at public universities. It also calls for expanding energy and fiber connectivity with government-backed funding. OpenAI highlights the Midwest and Southwest as ideal areas for AI development, with a focus on renewable energy and data centers. The plan emphasizes the need for 50 gigawatts of energy by 2030 to support AI growth and proposes small modular reactors to expand nuclear power capacity.

Read more about these developments by accessing 14 Trending AI Stocks on Latest Ratings and News and 15 AI News Investors Are Paying Attention To.

CNBC recently discussed the future of AI with Kunle Olukotun, co-founder and chief technologist at SambaNova Systems. The discussion centered on the growing demand for AI in 2025, with major tech companies continuing to invest heavily in infrastructure. While these companies are shifting from AI experimentation to deployment, there’s a significant focus on the transition from training models to using them in real-world applications. This change is leading to more complex AI systems, which integrate multiple models for business automation.

Kunle Olukotun expects that in 2025, businesses will move beyond pilot phases, widely adopting AI systems that involve more complex reasoning and interactions, rather than simple chatbots. The key to this shift will be rapid inference capabilities.

Read more about these developments by accessing 30 Most Important AI Stocks According to BlackRock and Beyond the Tech Giants: 35 Non-Tech AI Opportunities.

For this article, we collected the latest AI-related updates around non-US-based stocks from news articles, stock analysis, and press releases. These stocks are also popular among hedge funds.

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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 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).

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Market Capitalization: $7.522 billion

Open Text Corporation (NASDAQ:OTEX) provides information management products and services, including content services such as collaboration, records management, and archiving. Its Experience Cloud platform covers customer experience, digital asset management, AI insights, and e-discovery.

Open Text (NASDAQ:OTEX) launched Cloud Editions (CE) 24.4 at OpenText World 2024 event, offering AI-driven solutions to improve data connectivity, streamline workflows, and enhance business operations in multi-cloud environments. Key updates include AI tools for customer communications, secure cloud faxing, and advanced data management. New features like Content Aviator and DevOps Aviator use AI to help businesses analyze data and automate processes. These innovations support digital transformation, improve productivity, and drive competitive advantages through scalable, secure solutions.

Overall OTEX ranks 7th on our list of AI stocks you should keep on your radar. While we acknowledge the potential of OTEX 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 timeframe. If you are looking for an AI stock that is more promising than OTEX but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

 

READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock.

 

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