8 Best Robotics Stocks Under $10

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1. Aurora Innovation, Inc. (NASDAQ:AUR)

Share Price as of June 11: $2.36

Number of Hedge Fund Holders: 27

Topping our list of the best robotics stocks under $10 is Aurora Innovation, Inc. (NASDAQ:AUR), a company based in Pittsburgh, Pennsylvania, specializing in self-driving vehicle technology, a crucial component for autonomous vehicles.

On May 20 at the ACT Expo in Las Vegas, Aurora Innovation, Inc. (NASDAQ:AUR) and Volvo Autonomous Solutions unveiled the Volvo VNL Autonomous truck, which Aurora plans to begin hauling freight with in the coming months. This unveiling is a significant step toward Aurora Innovation, Inc. (NASDAQ:AUR)’s goal of commercializing self-driving trucks by the end of 2024. Initially, the company plans to transport freight between Dallas and Houston using up to 20 fully autonomous Class 8 trucks, with no human drivers on board.

The partnership with Volvo, established in March 2021, is a key component of Aurora Innovation, Inc. (NASDAQ:AUR)’s commercialization strategy. The company has also initiated pilot programs with logistics companies such as FedEx, Ryder, Schneider, and Uber Freight. Earlier this January, Aurora Innovation, Inc. (NASDAQ:AUR) and automotive supplier Continental completed the first phase of a project exceeding $300 million to mass-produce hardware for commercial self-driving trucks. The two companies finalized the design and system architecture for an autonomous vehicle hardware kit and developed a secondary computer system capable of taking over operations in case of a failure.

As of Q1 2024, 27 hedge funds held stakes in Aurora Innovation, Inc. (NASDAQ:AUR), according to Insider Monkey’s database of 919 hedge funds. These held a consolidated stake value of $160.8 million in the company.

While we acknowledge the potential of Aurora Innovation, Inc. (NASDAQ:AUR), our conviction lies in the belief that 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 AUR but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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