15 Best New Tech Stocks To Invest In

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1. Core Scientific Inc. (NASDAQ:CORZ)

Market Capitalization as of January 21: $4.19 billion

Number of Hedge Fund Holders: 58

Core Scientific Inc. (NASDAQ:CORZ) provides digital asset mining services in North America. It operates data centers, provides hosting services for cryptocurrency miners, and mines digital assets. This supports the growth of the cryptocurrency industry.

The company improved its position in the high-performance computing (HPC) market by expanding its capacity. It reallocated 100 megawatts of infrastructure previously used for bitcoin mining to HPC. It also partnered with CoreWeave to enhance its financial position. This partnership involves a 12-year contract where Core Scientific Inc. (NASDAQ:CORZ) will provide 200 megawatts of infrastructure to host CoreWeave’s HPC operations using its existing data centers and infrastructure.

The company’s existing power infrastructure and data centers provide a competitive advantage in the AI/HPC space due to the increasing scarcity of power and the growing demand for AI computing resources. Roth Mkm recently initiated coverage on Core Scientific Inc. (NASDAQ:CORZ) with a Buy rating and a $25.50 price target.

While we acknowledge the growth potential of Core Scientific Inc. (NASDAQ:CORZ), our conviction lies in the belief that AI stocks hold great promise for delivering high returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than CORZ 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.

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