10 Trending AI Stocks on Wall Street’s Radar

1. Salesforce, Inc. (NYSE:CRM)

Number of Hedge Fund Holders: 116

Salesforce, Inc. (NYSE:CRM) is a software application company that provides solutions for connecting businesses with customers. Its services include sales to store data, monitor leads and progress, forecast opportunities, and artificial intelligence. On January 23rd, the company’s CEO, Marc Benioff, affirmed they are on course to secure thousands of deals for the new artificial intelligence tool Agentforce.

The remarks at the World Economic Forum in Davos underline the growing momentum for artificial intelligence across sectors, on which Salesforce, Inc. (NYSE:CRM) is increasingly capitalizing. According to Benioff, the accelerated adoption of Agentforce affirms unparalleled growth for Salesforce. While the company’s sales were up by 8% in the third quarter to $9.4 billion, management is projecting revenues of $9.9 billion for the fourth quarter and earnings of $10.10 billion attributed to gains due to AI.

Agentforce is a perfect example of AI agent technology that is becoming increasingly popular. They are believed to be the next step or generation to Microsoft’s backed ChatGPT. On January 23rd, analysts at Bank of America reiterated that Agentforce has the potential to trigger the next phase of growth owing to a more favorable spending environment.

While we acknowledge the potential of Salesforce, Inc. (NYSE:CRM) as an investment, our conviction lies in the belief that some deeply undervalued AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for a deeply undervalued AI stock that is more promising than CRM but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap.

Disclosure: None. This article was originally published at Insider Monkey.