10 Best Multibagger Penny Stocks to Buy According to Billionaires

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1. Lumen Technologies, Inc. (NYSE:LUMN)

Number of Billionaire Holders: 9

1-Year Gain as of April 21: 141.91%

Share Price as of April 21: $3.29

Lumen Technologies, Inc. (NYSE:LUMN) is a telecommunications company that offers communications, network services, security, cloud solutions, voice, and managed services through its fiber optic and copper networks. Up by 141.91% over the past year, it is turning out to be one of the best multi-bagger penny stocks to buy, according to billionaires.

That’s partly because Lumen Technologies, Inc. (NYSE:LUMN) increasingly benefits from the artificial intelligence spectacle. It has already initiated strategic partnerships with Microsoft, Meta Platforms, and other leading tech companies that require increased connectivity between their data centres. In addition, Lumen Technologies has partnered with Google Cloud to provide advanced cloud and network solutions to meet growing needs for AI workloads.

As more businesses adopt AI technologies, the need for Lumen Technologies, Inc.’s (NYSE:LUMN) reliable and efficient networking solutions should soar. By teaming up with tech giants amid the AI push, Lumen has essentially strengthened and diversified its revenue streams. The partnerships should enhance its top line and competitive edge in the industry. On February 21, Wells Fargo’s Erick Luebchow upgraded the stock rating from Underweight to Equal Weight, setting a $5 price target.

While we acknowledge the potential of Lumen Technologies, Inc. (NYSE:LUMN) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than LUMN but that trades at less than 5 times its earnings check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

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