AMAZON.COM INC (AMZN)

BMO Capital downgraded Prologis (PLD) to Underperform from Market Perform with a price target of $104, down from $120. Prologis is a “world-class company with a moat business,” but its valuation screens expensive, the analyst tells investors in a research note. The firm says the company’s s embedded growth is set to moderate back to pre-COVID levels by 2026. Industrial leasing demand is down 56% year-over-year, and BMO does not see a near-term rebound with Amazon expanding modestly and shifting

Every decade seems to create a new wave of growth stocks that benefit from the latest trends in the economy. The last 20 years have created tremendous wealth for investors who jumped early on the growth of e-commerce (Amazon), streaming video (Netflix), and electric cars (Tesla). Artificial intelligence (AI) has the makings of the next wealth-building opportunity in the stock market.

One of them is David Tepper, the billionaire founder of Appaloosa Management. The hedge fund owns several AI stocks worth serious consideration for investors, including Amazon (NASDAQ: AMZN) and Meta Platforms (NASDAQ: META). The tech giant offers a range of AI-related services through its cloud computing arm, Amazon Web Services (AWS).

A co-chair of the U.S. Congressional artificial intelligence task force urged federal energy regulators this week to support the development of data centers directly connected to power plants, citing national security and competition for global AI dominance, according to a letter seen by Reuters dated Dec. 5. U.S. Congressman Jay Obernolte said the Federal Energy Regulatory Commission should move speedily in crafting rules that encourage the expansion of AI and its need for large amounts of electricity, including by clearing the way for so-called co-located AI data centers. Co-location, which can allow data centers to power up faster than if they waited in line to connect to the broader grid, has sparked debates among regulators around how the centers will affect the reliability of the country's electrical system.