10 AI Stocks That Will Skyrocket

7. Alphabet Inc. (NASDAQ:GOOGL)

Street High Upside as of December 3, 2024: 40%

Number of Hedge Fund Holders: 202

Alphabet’s (NASDAQ:GOOGL) performance in Q3 2024 was predominantly driven by its growing demand for search and cloud due to artificial intelligence. The company has been dominating the AI space with its full-stack approach based on three components, a robust AI infrastructure, top-notch research teams, and a large network through its differentiated products and platforms. As of Q3 2024, all products and services with more than 2 billion monthly users use Gemini models. Extending beyond its products, Alphabet Inc. (NASDAQ:GOOGL) is also working to offer Gemini more broadly to developers, such as on GitHub Copilot.

In addition to that, the company also improved the performance of AI in search by expanding the type of questions people can ask. Alphabet Inc. (NASDAQ:GOOGL) also revealed that new Chromebooks would now come with built-in artificial intelligence features. On the shopping front, Alphabet Inc. (NASDAQ:GOOGL) launched a new artificial intelligence tool to help consumers pick the right products supported by generous product details. Alphabet Inc. (NASDAQ:GOOGL) is a prominent name in AI and cloud. Analysts are also bullish on the stock and their high price target represents an upside of 40% from current levels.