12 Best Artificial Intelligence (AI) Stocks To Buy According to Analysts

Published on February 3, 2024 at 12:02 pm by Ramish Cheema in News

In this piece, we will take a look at the 12 best artificial intelligence stocks to buy according to analysts. If you want to skip our overview of the latest trends in the world of AI, then you can take a look at the 5 Best Artificial Intelligence (AI) Stocks To Buy According to Analysts.

When it comes to AI, the rapid rise in prominence of the technology is quite striking. If we rewind the hands of time to mid 2022, then few people would be regularly talking about the technology, and media coverage would be limited to a handful of players such as the firm behind ChatGPT, OpenAI. Yet, in just a year, AI is at the forefront of the media, investor, and even government attention as the advances in decision making offered by data science enable organizations to upscale their operations.

Since it led the stock market to rise in 2023, AI is naturally at the front of attention in 2024 as well. The first two months of a year are particularly important for markets as they provide them with the perfect data to set the tone for the rest of the year. These come in the form of earnings reports, and for the Q1 2024 earnings season, all that anyone can talk about is AI. The year started off with the Taiwan Semiconductor Manufacturing Company (NYSE:TSM) assuring investors during its earnings call that it was in a stable position to capture any growth in the demand for AI chips. Its CEO C.C. Wei shared that TSMC is working with all the major players in the global A.I. industry, as he shared:

The surge in AI-related demand in 2023 supports our already strong conviction that the structural demand for energy-efficient computing will accelerate in an intelligent and connected world. TSMC is a key enabler of AI applications. No matter which approach is taken, AI technology is evolving to use more complex AI models, as the amount of computation required for training and influence is increasing. As a result, AI model need to be supported by more powerful semiconductor hardware, which requires use of the most advanced semiconductor process technologies. Thus, the value of TSMC technology position is increasing and we are well-positioned to capture the major portion of the market in terms of semiconductor component in AI.

To address unassessable AI-related demand for energy-efficient computing power, customers rely on TSMC to provide the most leading-edge processing technology at scale with a dependable and predictable cadence of technology offering. At the same time, as process technology complexity increased the engagement lead time with customer also started much earlier. There is almost all the AI innovators are working with TSMC and we are observing a much higher level of customer interest and engagement at N2 as compared with N3 at a similar stage from both HPC and the smartphone applications. Our 2-nanometer technology will adopt narrow sheet transistor structure and be the most advanced semiconductor technology in the industry in both density and energy efficient when it is introduced in 2025.

After TSMC, it was Intel Corporation (NASDAQ:INTC)’s turn. The world’s largest chip designer and manufacturer, Intel has struggled to keep up the pace with the industry’s upgrade cycles and is now aggressively targeting rapid iteration and mass production of advanced semiconductor fabrication process node technologies. Leading the charge is Intel’s CEO Patrick Gelsinger, who highlighted that not only can AI become an industry that drives a “$1 trillion semiconductor TAM [TOTAL ADDRESSABLE MARKET] by 2030,” but also confidently asserted that “given our foundry and product offerings, we’re the only company able to participate in 100% of the TAM for AI Silicon logic.“

Shifting from the hardware side of the AI industry to the software, the next duo up on the earnings stage came in the form of Microsoft Corporation (NASDAQ:MSFT) and Alphabet Inc. (NASDAQ:GOOG). As rapidly changing as AI is, if there’s one thing that can be said with certainty about the software segment of artificial intelligence companies and stocks, it’s that Alphabet and Microsoft sit right at the top of the global AI food chain that some estimates say has as many as 57,000 companies. Of course, the definition of an ‘AI company’ depends on whether you also include companies that use AI for their business processes as well as counting others who make the hardware and software. Yet, even if we include the former bunch, Alphabet and Microsoft are still likely to come out on top since their deep expertise in all things data science naturally provides them with a competitive advantage.

Alphabet CEO Sundar Pichai led with AI and aimed right for the money when he explained during the firm’s earnings call for the fourth quarter that it is heavily invested in improving Search results with AI. These announcements came even as Google’s advertisement revenue failed to impress investors and led to a post earnings share price drop. Like Pichai, Microsoft’s Satya Nadella also talked about AI as he shared that the company had evolved from “talking about AI” to “applying AI to scale.”

So, as AI continues to remain the topic in technology and finance, we decided to see what AI stocks analysts believe are worth watching out for. Some top picks are The Trade Desk, Inc. (NASDAQ:TTD), Western Digital Corporation (NASDAQ:WDC), and Microchip Technology Incorporated (NASDAQ:MCHP).

alex-knight-2EJCSULRwC8-unsplash

Our Methodology

To make our list of the best artificial intelligence or AI stocks to buy according to analysts, we used the holdings of the Invesco AI and Next Gen Software ETF and ranked the firms by their average analyst share price target upside. The top stocks were chosen as the best AI stocks.

For these best artificial intelligence stocks according to analysts, we have also mentioned hedge fund sentiment. Hedge funds’ top 10 consensus stock picks outperformed the S&P 500 Index by more than 140 percentage points over the last 10 years (see the details here). That’s why we pay very close attention to this often-ignored indicator.

Best Artificial Intelligence (AI) Stocks To Buy According to Analysts

12. Alphabet Inc. (NASDAQ:GOOGL)

Average Analyst Share Price Upside: 3%

Average Analyst Share Price Target: $156.52

Alphabet Inc. (NASDAQ:GOOGL) is one of the biggest players in the AI industry and an example of how a company can lead in a sector and still not need to make money from it. Alphabet Inc. (NASDAQ:GOOGL)’s biggest business is its search engine, and during the firm’s latest earnings call, CEO Sundar Pichai was quick to comment on how his firm is using AI to improve Google Search results.

For their third quarter of 2023 shareholdings, 221 out of the 910 hedge funds covered by Insider Monkey’s research had held a stake in Alphabet Inc. (NASDAQ:GOOGL). Out of these, the firm’s biggest hedge fund investor is Ken Fisher’s Fisher Asset Management with a $5.7 billion investment.

Alphabet Inc. (NASDAQ:GOOGL) joins The Western Digital Corporation (NASDAQ:WDC), Trade Desk, Inc. (NASDAQ:TTD), and Microchip Technology Incorporated (NASDAQ:MCHP) in our list of the top AI stocks according to analysts.

11. Equinix, Inc. (NASDAQ:EQIX)

Average Analyst Share Price Upside: 4%

Average Analyst Share Price Target: $871.86

Equinix, Inc. (NASDAQ:EQIX) is a real estate investment trust that works with companies to set up their network and data centers. This means that the firm has exposure to potential growth in AI computer facilities. The shares are rated Buy on average, and Equinix, Inc. (NASDAQ:EQIX) secured upgrades from Truist and Wolfe Research in January 2023.

As of Q3 2023 end, 42 out of the 910 hedge funds part of Insider Monkey’s database were the firm’s shareholders. Equinix, Inc. (NASDAQ:EQIX)’s largest stakeholder among these is Philippe Laffont’s Coatue Management through its $457 million stake.

10. ANSYS, Inc. (NASDAQ:ANSS)

Average Analyst Share Price Upside: 4%

Average Analyst Share Price Target: $345.56

ANSYS, Inc. (NASDAQ:ANSS) is an engineering software company that enables engineers to design and develop complex products. This provides it with a key area to utilize AI in, and on this front, ANSYS, Inc. (NASDAQ:ANSS) announced in January 2024 that its Ansys SimAI software uses generative AI to expand access to users with limiting coding or programming language.

For their September quarter of 2023 shareholdings, out of the 910 hedge funds tracked by Insider Monkey, 32 had invested in ANSYS, Inc. (NASDAQ:ANSS). Ian Simm’s Impax Asset Management was the biggest investor as it owned 640,715 shares that are worth $190 million.

9. Marvell Technology, Inc. (NASDAQ:MRVL)

Average Analyst Share Price Upside: 5%

Average Analyst Share Price Target: $72

Marvell Technology, Inc. (NASDAQ:MRVL) is a semiconductor firm that enables chip manufacturers to design and test their products. Its shares are rated Strong Buy on average, and the firm can benefit from any growth in global semiconductor manufacturing capacity due to AI demand.

By the end of last year’s third quarter, 57 out of the 910 hedge funds covered by Insider Monkey’s research were Marvell Technology, Inc. (NASDAQ:MRVL) shareholders. Out of these, the largest stakeholder was David Goel and Paul Ferri’s Matrix Capital Management courtesy of its $712 million investment.

8. AMETEK, Inc. (NYSE:AME)

Average Analyst Share Price Upside: 7%

Average Analyst Share Price Target: $177.23

AMETEK, Inc. (NYSE:AME) is an engineering products company headquartered in Berwyn, California. While AI has become popular in 2023, the firm has been working with the technology for more than four years now. AMETEK, Inc. (NYSE:AME)’s precision electronics have been powering up deep learning servers since 2019, and have laid the path to generative AI that’s on its way to becoming commonplace now.

Insider Monkey dug through 910 hedge funds for their September quarter of 2023 shareholdings and found that 38 had bought a stake in the company. AMETEK, Inc. (NYSE:AME) ‘s biggest hedge fund shareholder is Phill Gross and Robert Atchinson’s Adage Capital Management as it owns $159 million worth of shares.

7. Snowflake Inc. (NYSE:SNOW)

Average Analyst Share Price Upside: 7%

Average Analyst Share Price Target: $220.79

Snowflake Inc. (NYSE:SNOW) is a cloud computing company whose analytical business model stands to be one of the biggest beneficiaries of any advancements in AI. The firm has been doing well on the financial front as of late since it has beaten analyst EPS estimates in all four of its latest quarters.

As of September 2023 end, 71 out of the 910 hedge funds covered by Insider Monkey’s research were Snowflake Inc. (NYSE:SNOW)’s investors. Brad Gerstner’s Altimeter Capital Management was the largest investor through its $2.3 billion stake.

6. Intuitive Surgical, Inc. (NASDAQ:ISRG)

Average Analyst Share Price Upside: 8%

Average Analyst Share Price Target: $405.59

Intuitive Surgical, Inc. (NASDAQ:ISRG) is a robotics company that enables surgeons to use surgical medical assistants during their operations. It seeks to use AI to improve surgical decision making, and despite a commanding position in its market, Intuitive Surgical, Inc. (NASDAQ:ISRG) is racing to launch its new surgical robot as soon as the FDA gives the go ahead.

78 out of the 910 hedge funds profiled by Insider Monkey during Q3 2023 had invested in the robotics company. Intuitive Surgical, Inc. (NASDAQ:ISRG)’s biggest shareholder is Ken Fisher’s Fisher Asset Management as it owns 4.4 million shares that are worth $1.2 billion.

The Trade Desk, Inc. (NASDAQ:TTD), Intuitive Surgical, Inc. (NASDAQ:ISRG), Western Digital Corporation (NASDAQ:WDC), and Microchip Technology Incorporated (NASDAQ:MCHP) are some AI stocks that analysts cannot stop gushing about.

Click here to continue reading and check out 5 Best Artificial Intelligence (AI) Stocks To Buy According to Analysts.

The $250 Trillion AI Hype is Real. A few years from now, you’ll probably wish you’d bought this stock.

Published on November 14, 2025 at by Inan Dogan, PhD

When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

175 Teslas
107 Amazons
140 Metas
84 Googles
65 Microsofts
And 55 Nvidias

And here’s the wild part — this $250 trillion wave isn’t tied to one company, but to an entire ecosystem of AI innovators set to reshape the global economy.

It’s a leap so massive, it could reshape how businesses, governments, and consumers operate worldwide.

Even if that $250 trillion figure sounds ambitious, major firms like PwC and McKinsey still see AI unlocking multi-trillion-dollar potential.

How could anything be worth that much?

The answer lies in a breakthrough so powerful it’s redefining how humanity works, learns, and creates.

And this breakthrough has already set off a frenzy among hedge funds and Wall Street’s top investors.

What most investors don’t realize is that one under-owned company holds the key to this $250 trillion revolution.

In fact, Verge argues this company’s supercheap AI technology should concern rivals.

Before I reveal the details, let’s talk about how some of the richest people on the planet are positioning themselves.

Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

When billionaires from Silicon Valley to Wall Street line up behind the same idea — you know it’s worth paying attention to.

Even as we admire what Tesla, Nvidia, Alphabet, and Microsoft have built, we believe an even greater opportunity lies elsewhere…

But the real story isn’t Nvidia — it’s a much smaller company quietly improving the critical technology that makes this entire revolution possible.

And judging by what I’m hearing from both Silicon Valley insiders and Wall Street veterans…

This prediction might not be bold at all:

A few years from now, you’ll wish you’d owned this stock.

The best part? You can discover everything about this company and its groundbreaking technology right now.

I’ve compiled everything you need to know about this groundbreaking company in a detailed, members-only report.

Trust me — you’ll want to read this report before putting another dollar into any tech stock.

For a ridiculously low price of just $9.99 a month, you can unlock a year’s worth of in-depth investment research and exclusive insights – that’s less than a single fast food meal!

Here’s why this is a deal you can’t afford to pass up:

• Access to our Detailed Report on this Game-Changing AI Stock: Our in-depth report dives deep into our #1 AI stock’s groundbreaking technology and massive growth potential.

• 11 New Issues of Our Premium Readership Newsletter: You will also receive 11 new issues and at least one new stock pick per month from our monthly newsletter’s portfolio over the next 12 months. These stocks are handpicked by our research director, Dr. Inan Dogan.

• One free upcoming issue of our 70+ page Quarterly Newsletter: A value of $149

• Bonus Reports: Premium access to members-only fund manager video interviews

• Ad-Free Browsing: Enjoy a year of investment research free from distracting banner and pop-up ads, allowing you to focus on uncovering the next big opportunity.

• 30-Day Money-Back Guarantee: If you’re not absolutely satisfied with our service, we’ll provide a full refund within 30 days, no questions asked.

If you’re thinking about getting in, don’t wait – because once Wall Street catches wind of this story, the easy money will be gone.

Space is Limited! Only 1000 spots are available for this exclusive offer. Don’t let this chance slip away – subscribe to our Premium Readership Newsletter today and unlock the potential for a life-changing investment.

Here’s what to do next:

1. Head over to our website and subscribe to our Premium Readership Newsletter for just $9.99 a month.

2. Enjoy a year of ad-free browsing, exclusive access to our in-depth report on the revolutionary AI company, and the upcoming issues of our Premium Readership Newsletter over the next 12 months.

3. Sit back, relax, and know that you’re backed by our ironclad 30-day money-back guarantee.

Don’t miss out on this incredible opportunity! Subscribe now and take control of your AI investment future!

Insider Monkey Ads

Markets

Insider Trading

Hedge Funds

Retirement

Opinion

Log In

Sign Up