12 Best Artificial Intelligence Stocks To Invest In Under $10

5. Fastly Inc. (NYSE:FSLY)

Share Price as of November 27: $7.95

Number of Hedge Fund Holders: 14

Fastly Inc. (NYSE:FSLY) operates an edge cloud platform that helps businesses deliver digital experiences faster and more securely. It offers services like content delivery networks, security solutions, and video streaming, serving industries such as technology, media, and finance. Its edge cloud platform uses AI and machine learning to optimize content delivery, security, and performance.

The company reported strong third-quarter 2024 results, with notable progress in diversifying its revenue base, growing its quarterly revenue by 7.35% as compared to the year-ago period. Furthermore, it achieved a 20% growth in revenue outside of its top 10 customers, demonstrating reduced reliance on a few large accounts.

A major highlight for the company was the advancement of its AI accelerator, an AI proxy designed to enhance performance and reduce costs for applications utilizing LLMs. It expanded LLM support to include Google Gemini, in addition to OpenAI. The AI accelerator is expected to be generally available by the end of the year.

By leveraging the power of the company’s platform, the AI accelerator can dramatically reduce latency for tasks like answering queries, which typically take several seconds on traditional cloud platforms. This is achieved by optimizing request routing and utilizing the edge network. Additionally, the accelerator helps lower the overall cost of AI solutions by reducing the reliance on central cloud infrastructure and enabling efficient use of edge resources.

The company’s innovative AI accelerator is poised to revolutionize the AI landscape. By significantly reducing latency and costs associated with AI applications, this cutting-edge technology positions Fastly Inc. (NYSE:FSLY) as a leader in AI innovation.