In this article, we discuss the 20 trending AI stocks on latest news and analyst ratings.
The latest developments in the AI industry from a business perspective highlight a growing momentum, driven by significant investments, innovative product launches, and both regulatory and market challenges. One notable development is the rise of Safe Superintelligence, a company founded by previous OpenAI bigwig Ilya Sutskever, which recently secured $1 billion in funding to advance AI systems with a focus on safety. This significant capital raise from major venture capital firms like Andreessen Horowitz and Sequoia Capital underscores the growing concerns around AI safety, as companies work to ensure that AI technologies are both powerful and aligned with human values. Similarly, the market selloff of Wall Street’s favorite GPU maker following a stellar earnings report, resulting in a market value loss of close to $280 billion, reflects investor anxieties over the sustainability of AI growth, compounded by concerns over regulatory scrutiny.
Read more about these developments by accessing 33 Most Important AI Companies You Should Pay Attention To and 20 Industrial Stocks Already Riding the AI Wave.
Another major business development that investors should keep an eye on is the purchase of AirTrunk by investment firm Blackstone for over $16 billion. AirTrunk, a data center operator, significantly boosts the position of the investment titan in the rapidly expanding AI infrastructure market. Data centers are expected to require up to $2 trillion in investment globally over the next five years to meet the demands of AI technologies, and the AirTrunk acquisition signals strong confidence in this growth by top investment managers. Data center expansions are critical as companies like OpenAI and Anthropic roll out enterprise-grade AI services, which demand immense computing power. For example, Anthropic recently launched Claude Enterprise, a robust AI chatbot, that caters to organizations that need advanced features like larger context windows and GitHub integration, aiming to streamline business operations through AI.
Read more about these developments by accessing 10 Buzzing AI Stocks According to Goldman Sachs and Beyond the Tech Giants: 35 Non-Tech AI Opportunities.
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For this article, we selected AI stocks based on the latest news and analyst ratings. These stocks are also popular among hedge funds.
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Trending AI Stocks on Latest Analyst Ratings and News
20. Marvell Technology, Inc. (NASDAQ:MRVL)
Number of Hedge Fund Holders: 74
Marvell Technology, Inc. (NASDAQ:MRVL) makes and sells semiconductors. The firm released second quarter earnings this month, beating market estimates on earnings per share and revenue by $0.01 and $20 million respectively. AI data center demand helped the chipmaker post these numbers, as customers like NVIDIA, Amazon, and Google integrated the products marketed by Marvell into their AI offerings. For example, the Blackwell GPUs use the 1.6T optical DSP made by Marvell. Similarly, the AI ASICS made by Marvel are being used in the Trainium 2 AI processor it is building, while Google is also using Marvell products in the Axion CPU processor.
Bank of America recently raised the price target on Marvell Technology, Inc. (NASDAQ:MRVL) stock to $90 from $85 and keeps a Buy rating on the shares post the Q2 report. In an investor note, the advisory noted that Marvell remained a key beneficiary of the ongoing artificial intelligence data center buildout globally, and even while gross margin dilution from an expanding custom silicon mix remained concerning, eventual recoveries in Marvell’s non-AI businesses would help somewhat offset in fiscal 2025 and 2026.
19. Advanced Micro Devices, Inc. (NASDAQ:AMD)
Number of Hedge Fund Holders: 108
Advanced Micro Devices, Inc. (NASDAQ:AMD) operates as a semiconductor manufacturer. It offers AI-enabled chips for several industries, including data center and cloud, personal computers, adaptive and embedded devices, and gaming. Wedbush recently released a research note on the chipmaker, reiterating an Outperform rating with a price target of $200. The advisory said it believed that the ZT acquisition was likely both strategic and opportunistic for AMD. It added that AMD was able to purchase ZT at a discount likely in part due to changing conditions in the original design manufacturers market and particularly Foxconn’s increased presence within the NVIDIA server supply chain.
The note further detailed that Advanced Micro Devices, Inc. (NASDAQ:AMD) had purchased ZT at an attractive price which allowed the former to recoup a meaningful portion of its acquisition cost when it sold the latter’s assets. Wedbush said it was cautiously optimistic on the deal’s value for AMD and also saw AMD’s willingness to spend $4 billion on the acquisition as a signal that prospects for the graphics processing units market continued to look robust.
18. Dell Technologies Inc. (NYSE:DELL)
Number of Hedge Fund Holders: 88
Dell Technologies Inc. (NYSE:DELL) designs, develops, manufactures, markets, sells, and supports various comprehensive and integrated solutions, products, and services. Mizuho analyst Vijay Rakesh recently initiated coverage of the stock with an Outperform rating and $135 price target. The analyst, in an investor note, highlighted that generative artificial intelligence was igniting growth and disruption across multiple markets, including AI servers which comprised the infrastructure enabling the AI revolution. The note underlined that there were two major server manufacturers spearheading this future, including Dell Technologies.
Per the analyst, Dell Technologies Inc. (NYSE:DELL) was better positioned with a broader portfolio and better balance sheet in an overall environment where Supermicro was seeing share loss, margin pressure, negative free cash flow, and lax internal control issues. The note detailed that generative AI was growing exponentially, supporting secular growth in the AI server market, even amid profitability risks from low differentiation, a concentrated customer base, and increasing competition.
17. Intel Corporation (NASDAQ:INTC)
Number of Hedge Fund Holders: 75
Intel Corporation (NASDAQ:INTC) markets key technologies for smart devices. Latest reports, published by Bloomberg, claim that investment firm Apollo Global Management has offered to invest billions of dollars into troubled chipmaker Intel. The investment, worth up to $5 billion, is under consideration by Intel. The investment proposal comes amid reports of a QUALCOMM offer to buy Intel, which analysts have dismissed as regulatory improbable. Intel is considering the sale of parts of the business as it struggles to improve financials. Some of the options on the table include splitting the foundry business and possibly scrapping factory projects.
Northland has an Outperform rating on Intel Corporation (NASDAQ:INTC) stock with a price target of $42. In a recent investor note on the chipmaker, the investment advisory underlined that the US military had no alternative to TSM other than Intel for advanced logic chips and noted that the Department of Defense required that the chips they use be manufactured on US soil. For these reasons, the advisory claimed, the Daddy War Buck would continue to provide funding to the chipmaker, even though Intel needed to be split into pieces to justify the present price target.
Some investors are saying that Intel Corporation (NASDAQ:INTC) is a deep value stock while it trades at less than book value, but is it? The stock is currently trading at ~ 13 times its projected operating cash flow, a 43% discount to its sector. Going by Intel’s executions in the past which includes missed deals with a leading smartphone giant, delayed plants for advanced chips, losing share aggressively to competitors, it might not be a good idea to expect the company to suddenly become a cash cow, while it’s still struggling to catch up to competitors.
16. QUALCOMM Incorporated (NASDAQ:QCOM)
Number of Hedge Fund Holders: 78
QUALCOMM Incorporated (NASDAQ:QCOM) develops and sells foundational technologies for the wireless industry. Stifel analyst Ruben Roy recently chimed in on the rumors about QUALCOMM acquiring chipmaker Intel, noting that such a development appeared unlikely. The analyst said the mega deal appeared similar to other such deals tried in the past that could not clear regulatory hurdles, giving examples of the NVIDIA bid to purchase Arm and the Broadcom proposal to purchase QUALCOMM, both of which collapsed before gaining significant traction. Bank of America analysts also echo these comments. In a recent investor note, they claimed that such an acquisition would allow QUALCOMM to diversify into more semiconductor markets and bring in strategic enterprise clients, but would also create the largest semiconductor company on the planet with Qualcomm’s $33 billion in revenue combined with Intel’s $52 billion.
Led by Vivek Arya, the analysts underlined that both QUALCOMM Incorporated (NASDAQ:QCOM) and Intel were extremely reliant on China sales, and Chinese authorities took years to consider even medium-sized transactions, so the scale/CPU dominance worked against the potential QCOM/INTC combination. China serves as Intel’s largest market, accounting for 26% of its revenue in 2023. Meanwhile, approximately 60% of Qualcomm’s revenue in 2023 came from China and Hong Kong.
15. Lam Research Corporation (NASDAQ:LRCX)
Number of Hedge Fund Holders: 84
Lam Research Corporation (NASDAQ:LRCX) markets semiconductor processing equipment. Doug Bettinger, the CFO of the firm, recently sought to ease investor concerns around China demand, saying that his firm had a large set of new customers in China that did not appear to be fading away any time soon, despite investor concerns over the region. He noted, during the Goldman Sachs Communacopia and Technology conference, that China had been strong this year and there was a broad set of customers in China – a lot of new customers with an eye towards growing for the future. Per the CFO, they were largely involved in 28 nanometer process technology and above, mainly in the sectors of industrial, auto, analog and microcontrollers.
The interest around the China business of Lam Research Corporation (NASDAQ:LRCX) has grown since the firm reported last quarter that China sales accounted for 39% of total sales, amid increasing US curbs on chip business with Chinese entities. Bettinger claims that the China spending is not going to go away, as Chinese customers of his company had roadmaps that went years into the future, providing demand for Lam products. He even acknowledged the Chinese companies would improve over time, making a case for Lam to spend more on research and development every year.
14. ASML Holding N.V. (NASDAQ:ASML)
Number of Hedge Fund Holders: 81
ASML Holding N.V. (NASDAQ:ASML) makes and sells advanced semiconductor equipment systems. Reports released earlier this month claimed that the Dutch authorities, ASML is based in the Netherlands, are considering further limiting the Chinese operations of the chipmaker by not renewing important licenses to repair and provide spare parts for semiconductor equipment in China. These licenses relate to the service of deep ultraviolet lithography (DUV) machines and are due to expire at the end of 2024. These reports came amid US government plans to pressure allies in Europe and Asia to limit export of semi equipment to China.
Morgan Stanley analyst Lee Simpson recently downgraded ASML Holding N.V. (NASDAQ: ASML) stock to Equal Weight from Overweight with a price target of EUR 800, down from EUR 925. The analyst, in an investor note, saw a balanced risk/reward for the shares given late cycle share price dynamics. The note further added that ASML’s risks included weak Intel capacity adds, a slowing DRAM cycle in 2025 and ongoing uncertainties surrounding China demand.
13. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)
Number of Hedge Fund Holders: 156
Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) makes and sells integrated circuits and semiconductors. Latest reports indicate that the company has partnered with Ansys and Microsoft in a project to speed-up simulation and analysis of silicon photonic components by over 10 times. The results of the partnership have been positive, with the companies declaring that they have achieved over 10x speed-up of Ansys Lumerical FDTD 3D electromagnetic simulation software for photonics simulation using Microsoft Azure NC A100v4-series virtual machines, powered by NVIDIA accelerated computing running on Azure AI infrastructure.
Stefan Rusu, head of silicon photonics system design at Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM), has said that the size and complexity of the multiphysics silicon solutions makes the process of simulating all possible parameter combinations challenging but the collaboration showed that Ansys effectively harnesses the latest cloud infrastructure and techniques to deliver powerful, predictively accurate solutions that produce results in a fraction of the time.
12. Micron Technology (NASDAQ:MU)
Number of Hedge Fund Holders: 120
Micron Technology (NASDAQ:MU) makes and sells memory and storage products. The shares have rallied since the company posted fourth-quarter results and guidance for the first-quarter of fiscal 2025 that were above expectations as demand for artificial intelligence continued to rise. In the fourth fiscal quarter, the memory maker earned an adjusted $1.18 per share as revenue rose over 93% year-over-year to come in at $7.75 billion. Adjusted gross margin came in at 36.5% during the period, well above the 34.7% consensus estimate. Cash flow from operations during the quarter was $3.41 billion. Analysts were expecting the company to report adjusted earnings of $1.11 per share on $7.64 billion in revenue.
Sanjay Mehrotra, the CEO of Micron Technology (NASDAQ:MU) said during the earnings call that the company was entering fiscal 2025 with the best competitive positioning in history, forecasting record revenue in fiscal Q1 and a substantial revenue record with significantly improved profitability in fiscal 2025. In the months ahead, Micron expects revenue for the first-quarter to be between $8.5 billion and $8.9 billion, and expects to earn between $1.66 and $1.82 per share on an adjusted basis.
11. Analog Devices, Inc. (NASDAQ:ADI)
Number of Hedge Fund Holders: 64
Analog Devices, Inc. (NASDAQ:ADI) designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products. Truist recently downgraded the stock to Hold from Buy with a price target of $233, down from $266. In a research note accompanying the downgrade, the advisory claimed that industry revenue growth in the semi world had peaked and was entering a slow fade, while stock investment returns had been robust cycle-to-date, making significant additional returns from here more challenging. However, Truist recognized that the fundamentals of the firm appear to have recently bottomed, raising hopes of a significant recovery in 2025.
The advisory further noted that Analog Devices, Inc. (NASDAQ:ADI) stock was trading at 28x estimated 2025 earnings. Per the investment firm, this represented an historical peak for the company, underlining that much of Analog Devices’ potential upside was already embedded in the stock price.
10. Palantir Technologies Inc. (NYSE:PLTR)
Number of Hedge Fund Holders: 44
Palantir Technologies Inc. (NYSE:PLTR) builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations. The company recently revealed that it had signed a multi-year, multi-million-dollar extension of an enterprise deal with energy firm APA Corporation to leverage artificial intelligence tech of the former across the oil and gas operations of the latter. Travis Osborne, the CIO of APA, said on the occasion that the existing partnership with Palantir had enabled improved operational efficiency and business visibility across the global portfolio and APA was excited to expand the use of Palantir AI capabilities to build on this foundation and accelerate performance and cost management even further.
Raymond James analyst Brian Gesuale recently downgraded Palantir Technologies Inc. (NYSE:PLTR) stock to Market Perform from Outperform without a price target. In an investor note, the analyst noted there was enthusiasm about Palantir’s longer term positioning in artificial intelligence, but the downgrade represented a view that the stock needed to consolidate stellar gains over the last couple of years and grow into its rich valuation. Per the analyst, Palantir shares had appreciated over 120% year-to-date and six-fold over two years, while the stock’s valuation had expanded five-fold, making it the richest software name.
9. Broadcom Inc. (NASDAQ:AVGO)
Number of Hedge Fund Holders: 130
Broadcom Inc. (NASDAQ:AVGO) supplies semiconductor infrastructure software solutions. Latest reports suggest that the company is not considering a potential takeover bid for rival Intel. News publication Bloomberg, citing people familiar with the matter, reports that Broadcom was assessing an offer for Intel but has put the brakes on the project, for now. Intel is pitching large parts of the business, including foundry, to potential buyers as it seeks to raise cash for a total overhaul. Several chip firms, including Qualcomm, are reportedly interested in buying parts of the Intel business. Such a takeover would invite security from regulators, evidenced by the fact that authorities shut down a potential merger between Broadcom and Qualcomm in 2018.
William Blair analyst Sebastien Naji recently initiated coverage of Broadcom Inc. (NASDAQ:AVGO) stock with an Outperform rating. In an investor note, the advisory underlined that Broadcom was targeting $12 billion in AI revenue in FY24 and there was room for continued steady growth into FY25 and FY26 driven by increasing custom chip demand, improved software monetization, recovery in non-AI semi chips and accelerating growth of Ethernet AI network fabrics.
8. Constellation Energy Corporation (NASDAQ:CEG)
Number of Hedge Fund Holders: 71
Constellation Energy Corporation (NASDAQ:CEG) generates and sells electricity in the United States. The stock has gained over the past few days after the company announced plans to partner with tech giant Microsoft to reopen the Three Mile Island nuclear site in Pennsylvania. Pennsylvania Governor Josh Shapiro has reportedly written a letter asking grid operator PJM Interconnection to allow the Three Mile Island reactor to be allowed to come online as quickly as possible rather than waiting in the queue as if they were an entirely new development. PJM’s queue for new electricity generation projects has been shut down to new applications since 2021 and is not expected to reopen until 2026, and once it reopens, it is unlikely to be able to approve some new projects for years, Shapiro said.
In response to the new developments, Morgan Stanley analyst David Arcaro has raises his price target for Constellation Energy Corporation (NASDAQ:CEG) stock to $313 from $233 while reiterating an Outperform rating, saying in a research note that the company’s 20-year contract with Microsoft proves out the value of nuclear power for hyperscalers, with higher prices possible for future deals.
7. Super Micro Computer, Inc. (NASDAQ:SMCI)
Number of Hedge Fund Holders: 47
Super Micro Computer, Inc. (NASDAQ:SMCI) develops and manufactures high performance server and storage solutions based on modular and open architecture. The company recently unveiled new servers that are based on Xeon processors made by chipmaker Intel. Per reports, the new servers have completely re-designed architectures, including 10U and multi-node form factors that support next-generation GPUs and higher CPU core densities. They also have updated memory slot configurations with 12 memory channels per CPU and new MRDIMMs, offering highest bandwidth and lowest latency. Charles Liang, the CEO of the firm, said that the new servers would help his firm to create customized solutions with complete rack integration services and in-house developed liquid cooling solutions.
Loop Capital recently lowered the price target on Super Micro Computer, Inc. (NASDAQ:SMCI) stock to $1,000 from $1,500 but kept a Buy rating on the shares. In an investor note, the advisory noted that the company was working to get its gross and operating margins to 14% and 10% respectively while dealing with its 10-K delay, though the perception of its demise were greatly exaggerated while its importance in gen-AI was underappreciated.
6. Microsoft Corporation (NASDAQ:MSFT)
Number of Hedge Fund Holders: 279
Microsoft Corporation (NASDAQ:MSFT) is a Washington-based technology company. Latest reports indicate that OpenAI, the generative artificial intelligence startup backed by Microsoft, has crossed the 1 million paid users barrier in the ChatGPT for business section. OpenAI launched ChatGPT in late 2022 to kickstart the AI boom. The tech giant has invested more than $10 billion in the AI startup already, and is potentially considering another large investment, along with Apple and NVIDIA, as the valuation of the startup touches close to $100 billion. OpenAI is considering higher-priced subscriptions to ChatGPT, perhaps $2,000 per month, as it launches new models like Strawberry and Orion.
DA Davidson analyst Gil Luria recently downgraded Microsoft Corporation (NASDAQ:MSFT) stock to Neutral from Buy with an unchanged price target of $475. In a research note, the analyst noted that competition had largely caught up with Microsoft on the AI front, which reduced the justification for the current premium valuation. The note further claimed that Microsoft’s lead had now diminished in both the cloud business and code generation business, which would make it hard for shares to continue to outperform.
5. Alphabet Inc. (NASDAQ:GOOG)
Number of Hedge Fund Holders: 165
Alphabet Inc. (NASDAQ:GOOG) is a California-based technology company that owns and runs the internet search engine Google. At the recent Google Gemini at Work event, the company outlined a range of artificial intelligence agent use cases. Wall Street analysts, like those led by Scott Devitt at Wedbush, took note of this development. In an investor note, the analysts noted that they had come away from the keynote with increased conviction in the strength of Google’s enterprise generative AI offerings and their emerging contribution to Google Cloud growth. They added that Google was actively working with enterprise customers to develop AI agents across a variety of use cases. Wedbush has an Outperform rating on Alphabet and a 12-month price target of $205.
Some of the companies working with Alphabet Inc. (NASDAQ:GOOG) in this regard included Snap, Volkswagen, Warner Bros. Discovery, and Best Buy. The investor note highlighted that the six primary uses of AI agents employed by enterprises included customer agents, employee agents, code agents, data agents, security agents and creative agents. Per the note, Google reported more than 2 million developers were building with Google’s GenAI solutions, and it had seen 36x growth in Gemini API usage on Vertix AI since the beginning of the year.
4. Meta Platforms, Inc. (NASDAQ:META)
Number of Hedge Fund Holders: 219
Meta Platforms, Inc. (NASDAQ:META) engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. The company recently released the latest large language model, Llama 3.2, also announcing mini versions of the LLM that allow them to fit on edge and mobile devices. The products were revealed during the Meta Connect 2024 event. First looks reveal that the Llama 3.2 1B and 3B models are text-only and support a context length of 128k tokens. They can perform on-device use cases such as summarizations, following instructions and rewriting tasks locally. The models are enabled for Qualcomm and MediaTek hardware and optimized for Arm processors.
Citi analyst Ronald Josey recently raised the price target on Meta Platforms, Inc. (NASDAQ:META) stock to $645 from $580 and kept a Buy rating on the shares. In an investor note, the analyst noted that as Reels ad load and usage continued to expand, Meta’s discovery engine and content recommendation models, powered in part by its investments in generative artificial intelligence, were a competitive advantage and represented a clear path of large language models return on investment.
3. Amazon.com, Inc. (NASDAQ:AMZN)
Number of Hedge Fund Holders: 308
Amazon.com, Inc. (NASDAQ:AMZN) engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally. Latest reports from The Information indicate that generative artificial intelligence startup Anthropic, which is backed by Amazon, is in talks to raise new funding that would value the startup at up to $40 billion. Similar indications have recently been made about Anthropic rival OpenAI, which is also set to raise new funds in a round that would value the startup at over $100 billion. OpenAI is backed by Microsoft. In addition to Amazon, Anthropic is also backed by tech firms like Google and Salesforce.
Amazon.com, Inc. (NASDAQ:AMZN) has appointed Rohit Prasad, one of the chief minds behind the popular Alexa assistant, to spearhead an effort geared towards making the assistant more competitive in the AI space with the AI assistants of Amazon rivals in the tech world, per The Wall Street Journal. The report also claims that Amazon has placed thousands of people in a new team under Prasad to develop AI products for an Alexa upgrade and other businesses.
2. Apple Inc. (NASDAQ:AAPL)
Number of Hedge Fund Holders: 184
Apple Inc. (NASDAQ:AAPL) is a consumer electronics firm. Investment firm Citi recently named the company as the top artificial intelligence stock pick heading into 2025. In a note to investors, the bank’s AI analysts pointed out that early developer feedback on iOS 18 — the latest iPhone software featuring beta AI capabilities — has been positive. Notably, the newly launched AI-powered feature that removes unwanted objects has received favorable reviews. According to the analysts, these innovations give consumers a strong incentive to upgrade their iPhones. The investor note also addressed concerns about the transition to a new CFO and the ongoing antitrust case against Google, expressing confidence that the company will emerge stronger from these challenges.
Apple Inc. (NASDAQ:AAPL) is potentially participating in a funding round for OpenAI, the California-based AI startup that is estimated to be worth around $100 billion, later this year. Experts are divided on the reasons behind the tech giant’s possible investment in OpenAI. According to an analysis by Bank of America, a deeper Apple-OpenAI partnership could be in the works if Apple makes a substantial investment, potentially positioning itself as a rival to Google in the internet search arena.
1. NVIDIA Corporation (NASDAQ:NVDA)
Number of Hedge Fund Holders: 179
NVIDIA Corporation (NASDAQ:NVDA) provides graphics, computing and networking solutions. Famous data storage firm NetApp recently announced that it had used NVIDIA AI software and accelerated computing hardware to come up with an advanced generative AI data vision and end-to-end integrated solution. The product, which uses intelligent data infrastructure for enterprise retrieval augmented generation, marketed by NetApp, will bring new capabilities to the NetApp unified storage operating system that can leverage a new NetApp global metadata namespace to unify data stores for the tens of thousands of enterprises that use NetApp for their data infrastructure.
Latest reports published by American magazine Barron’s indicate that NVIDIA Corporation (NASDAQ:NVDA) CEO Jensen Huang has completed a trading plan adopted earlier in the year. Huang grossed $713 million through stock sales executed by his Rule 10b5-1 trading plan, at an average price of over $118 per share, according to the magazine. The plan was set to be effective through March 2025, but it sold all of the allotted shares six months before expiration, the report claimed. Huang could adopt another plan to sell more shares, it added.
While we acknowledge the potential of NVIDIA Corporation (NASDAQ:NVDA) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than NVIDIA Corporation (NASDAQ:NVDA) but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: $30 Trillion Opportunity: 15 Best Humanoid Robot Stocks to Buy According to Morgan Stanley and Jim Cramer Says NVIDIA ‘Has Become A Wasteland’.
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