Artificial intelligence (AI) could be the most transformative technology in a generation. A recent survey by McKinsey and Company suggests that 72% of companies already use it in at least one business function.

On Monday, storied Swiss bank UBS Group initiated coverage of Arm's stock. Analyst Timothy Arcuri flagged the highly specialized AI stock as a buy, with a price target of $160 per share. That's 17% higher than the stock's most recent closing price.

What's the best example of a stock benefiting from the recent election results? Palantir Technologies (NASDAQ: PLTR) should rank near the top of the list. Shares of the artificial intelligence (AI) and data analytics software company have nearly quadrupled in value year to date.

The startup has signed on ExodusPoint, Soros Fund, and Millennium Management, whose founder Izzy Englander also invested in a past round.

Goldman Sachs says software companies are the next major beneficiaries of the artificial intelligence boom. Datadog is highly rated by Wall Street analysts due to the company’s strong position in observability software.

AI startup Anthropic will collaborate with Amazon Web Services and put the supercomputer to work with its AI technology.

Salesforce Inc.’s big push into artificial intelligence has helped drive shares to a record high. Now, Wall Street wants proof that the heavy spending is going to pay off.

The company is focusing on streamlining the supply chain for its newest AI chip in the face of rising demand, CFO Colette Kress said.

These entrepreneurs, traders and investors are making an outsized impact in fintech, crypto and traditional financial services.

Jared Cohen, Goldman Sachs president of global affairs, co-head of the Goldman Sachs Global Institute, said while talking to CNBC in a latest program that amid rising data center-driven energy demand because of AI, the US would need to collaborate with other countries via “diplomacy.”

Investors should expect that some selling pressure will come in the form of short-term profit-taking before year-end. However, any weakness in Palantir will certainly be met with additional buyers as long-term investors are likely to be waiting for an opportunity to buy Palantir stock on a dip.