10 AI Stocks That Will Skyrocket

6. Arm Holdings plc (NASDAQ:ARM)

Street High Upside as of December 3, 2024: 42%

Number of Hedge Fund Holders: 38

Arm Holdings plc (NASDAQ:ARM) is a semiconductor company that ranks sixth on our list of AI stocks that are expected to skyrocket. The company is one of the largest suppliers of microprocessor technology, graphics and camera technology, and physical IP and processor implementation solutions. Since 1990, the company has shipped more than 300 billion chips, positioning it as a leader in the industry.

On the AI front, the company is making significant advances. In the fiscal second quarter of 2025, Arm Holdings plc (NASDAQ:ARM) partnered with Meta to optimize Llama and other models for generative artificial intelligence from the data center to edge devices. On October 23, the company announced a collaboration with MediaTek and Vivo to help enhance AI experiences on smartphones.

In addition to that, the incidence of AI is significantly increasing the demand for ARM’s energy-efficient compute platform.  Overall, Arm Holdings plc (NASDAQ:ARM) holds dominance in the AI market, especially for mobile, cloud compute, automotive, and IoT use cases. Some of its leading partners in the AI industry include SoundHound AI, Weetaq, Embedl, ENERZAi, and Doulos, to name a few. Analysts are also favoring the stock and their high price target of 200 represents an upside of 42% from current levels.