5 Fastest Growing AI Stocks To Invest In Now

In this article, we will be taking a look at the 5 fastest growing AI stocks to invest in now. To read our detailed analysis of the artificial intelligence sector, you can go directly to see 11  Fastest Growing AI Stocks To Invest In Now.

5. Synopsys, Inc. (NASDAQ:SNPS)

Number of Hedge Fund Holders: 66

5-year Share Price Performance: 398.6%

Synopsys, Inc. (NASDAQ:SNPS) is an application software company. It offers electronic design automation software products.

Stifel analysts maintain a Buy rating and $620 price target on Synopsys, Inc. (NASDAQ:SNPS) as of January 17.

At the end of the fourth quarter, 66 hedge funds were long Synopsys, Inc. (NASDAQ:SNPS), with a total stake value of $3.2 billion.

Carillon Tower Advisers mentioned Synopsys, Inc. (NASDAQ:SNPS) in its fourth-quarter 2023 investor letter:

“Synopsys, Inc. (NASDAQ:SNPS) provides software for the development of semiconductors. Investors have appreciated the continued strength in demand from major semiconductor companies and the company’s new product announcements leveraging artificial intelligence.”

4. Celestica Inc. (NYSE:CLS)

Number of Hedge Fund Holders: 38

5-year Share Price Performance: 418.5%

Celestica Inc. (NYSE:CLS) had 38 hedge funds long its stock in the fourth quarter, with a total stake value of $677.9 million.

On March 11, Cormar Securities initiated coverage on Celestica Inc. (NYSE:CLS) with a Buy rating and a $56 price target.

Celestica Inc. (NYSE:CLS) provides data center hardware, advanced tech solutions, and connectivity and cloud solutions. The company is a beneficiary of the AI boom as demand for data center hardware continues to rise in the AI space.

3. Tesla, Inc. (NASDAQ:TSLA)

Number of Hedge Fund Holders: 82

5-year Share Price Performance: 827.3%

Tesla, Inc. (NASDAQ:TSLA) is an electric vehicle manufacturer based in Austin, Texas. It provides AI-powered self-driving cars, trucks, and more.

Wedbush analysts maintain an Outperform rating and a $315 price target on Tesla, Inc. (NASDAQ:TSLA) as of March 13.

We saw 82 hedge funds long Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, with a total stake value of $6.3 billion.

Fred Alger Management said the following about Tesla, Inc. (NASDAQ:TSLA) in its fourth-quarter 2023 investor letter:

“Tesla, Inc. (NASDAQ:TSLA) is an electric vehicle manufacturer with a significant technological lead in its large and rapidly growing addressable market. Tesla is a transportation company that is setting the pace for industry innovation, in our view. During the quarter, the company reported weaker-than-expected fiscal third quarter earnings, where gross margins were negatively impacted by factory downtime and ramping production volumes at new manufacturing plants. However, the company noted that they remain confident by the amount of data that Tesla’s established and growing fleet of vehicles has gathered, which may bode well for the company’s full self-driving capabilities.”

2. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Holders: 173

5-year Share Price Performance: 1,879.2%

Bank of America Securities holds a Buy rating and an $1100 price target on NVIDIA Corporation (NASDAQ:NVDA) as of March 13.

Based in Santa Clara, California, NVIDIA Corporation (NASDAQ:NVDA) is a semiconductor company. It offers a variety of AI chips and other semiconductor devices.

NVIDIA Corporation (NASDAQ:NVDA) was seen in the portfolios of 173 hedge funds in the fourth quarter, with a total stake value of $33.8 billion.

1. Super Micro Computer, Inc. (NASDAQ:SMCI)

Number of Hedge Fund Holders: 40

5-year Share Price Performance: 5,088.5%

Super Micro Computer, Inc. (NASDAQ:SMCI) is an information technology company. It offers enterprise AI solutions for AI servers, edge AI servers, and AI GPU servers.

There were 40 hedge funds long Super Micro Computer, Inc. (NASDAQ:SMCI) in the fourth quarter, with a total stake value of $642.9 million.

As of March 13, Bank of America Securities analysts maintain a $1280 price target and Buy rating on Super Micro Computer, Inc. (NASDAQ:SMCI).

See also 10 Best Artificial Intelligence Stocks Under $10 and Top 10 Generative Artificial Intelligence Companies to Invest In.