Top 4 Undervalued Stocks to Watch in 2024

Smart investors are always trying to get the best possible deal on whatever security or asset they are buying. The better the deal, the higher the chance of generating a substantial ROI. To do so, we use a wide array of tools to try and analyze today's top undervalued stocks. Within this report you'll find 4 stocks selling below intrinsic value with growth potential.

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Google, Amazon-Backed OpenAI Rival Anthropic Launches Claude Chatbot In Europe Amid Regulatory Challenges

Ananya Gairola
May 13, 2024

Alphabet Inc (NASDAQ:GOOGL) (NASDAQ:GOOG) search arm Google and Amazon.com Inc (NASDAQ:AMZN)-backed AI startup Anthropic has introduced its Claude chatbot and subscription plans in Europe.

What Happened: Anthropic, founded by former OpenAI employees in 2021, has unveiled Claude in Europe as part of the company’s strategy to expand its user base and revenue, reported Bloomberg. The company’s basic software offering has already gained traction in sectors such as finance and hospitality across Europe.

Anthropic’s CEO, Dario Amodei, highlighted the company’s cloud-computing partners, Amazon and Google, as key allies in navigating the stringent data usage regulations in the EU.

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“Our cloud providers are known for very strong security,” Amodei said. “We're well-positioned from a data security and privacy perspective.”

Anthropic, known for its focus on responsible and ethical AI, earlier this month introduced a Team plan for corporate clients. The company is now bringing similarly priced plans to Europe, where it will face competition from ChatGPT-parent OpenAI and local rivals like Mistral.

Despite the challenges posed by the EU’s AI Act, Anthropic remains optimistic. The company’s largest model complies with the Act’s restrictions. “We are going to find out how they implement it,” said Jack Clark, Anthropic's co-founder and policy chief.

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Why It Matters: Anthropic’s expansion into Europe comes on the heels of several significant developments. In March, the company introduced its latest generative AI model, Claude 3, which it said outperformed rivals like OpenAI’s GPT-4.

Anthropic’s Claude AI platform was previously only accessible through its website and third-party model libraries. However, in May, the company launched an iOS app for Claude, making the platform more accessible to users.

Despite its recent successes, Anthropic faces stiff competition not only from OpenAI but also from Chinese AI startups. Earlier this month, it was reported that four Chinese AI startups, including Zhipu AI and Moonshot AI, have achieved “unicorn” status and are now set to compete with U.S. giants like OpenAI and Anthropic.

Check out more of Benzinga’s Consumer Tech coverage by following this link.

Read Next: Elon Musk Gets Another Vote Of Confidence From Twitter Co-Founder Jack Dorsey: ‘Elon Made…The Right Choice’

Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.

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