10 Most Popular AI Penny Stocks to Buy Under $5

8. Richtech Robotics Inc. (NASDAQ:RR)

Share Price as of March 24: $2.26

Number of Hedge Fund Holders: 4

Richtech Robotics Inc. (NASDAQ:RR)  develops and deploys AI-driven robotic solutions for service industry automation. It offers a range of robots like Matradee, Medbot, and DUST-E for delivery, sanitation, and food service. With increasing AI integration, these robots aim to optimize efficiency and customer experience in environments such as restaurants, hotels, hospitals, and retail centers.

The company’s ADAM robot barista is powered by NVIDIA AI and interacts with customers. It takes verbal orders and prepares beverages. This technology is featured in the company’s brand, called Coffee & Tea, which launched its first location in Las Vegas. Richtech Robotics Inc. (NASDAQ:RR) also showcased other AI-powered service robots, like Scorpion, recently at CES.

To further AI and robotics research, the company launched the Richtech Accelerator Program. This program provides US universities with access to the company’s robotic systems to improve AI models. Columbia University is the first partner, which focuses on Natural Language Processing for human-robot interaction. Richtech Robotics Inc.’s (NASDAQ:RR) strategy includes launching new brands that use its AI technology and investing in research programs to advance AI development.