10 Most Popular AI Penny Stocks to Buy Under $5

6. Veritone Inc. (NASDAQ:VERI)

Share Price as of March 24: $2.76

Number of Hedge Fund Holders: 5

Veritone Inc. (NASDAQ:VERI) provides AI computing solutions and services globally. It is centered around its aiWARE platform, which is an AI operating system that transforms unstructured data into actionable insights through ML. It also offers media advertising agency services, that encompass planning, buying, and analytics.

The company’s aiWARE platform handled over 10 petabytes of data in 2024. The newly launched Veritone Data Refinery (VDR) has a $5 million near-term sales pipeline and already generated $0.7 million in Q4 2024 revenue. VDR enables organizations to transform unstructured data, such as video, audio, and text, into high-quality assets for training advanced AI models. Its Intelligent Digital Evidence Management System (IDEMS) is an AI-powered platform for aggregating, analyzing, and sharing digital evidence, and is a key AI application for the public sector. Its pipeline exceeds $110 million, and 18 new public sector customers were added in Q4.

The company anticipates 100% to 150% growth in its public sector business. Veritone Inc. (NASDAQ:VERI) also secured awardable status on the Department of Defense TradeWinds marketplace for three AI solutions recently. In the commercial sector, it secured 42 new deals in Q4, which includes a renewed partnership with CBS News.