8 Fastest Growing AI Stocks To Buy Right Now

5. Snowflake Inc. (NYSE:SNOW)

Year-Over-Year Revenue Growth Rate: 29.21%

3-Year Revenue CAGR: 43.81%

Number of Hedge Fund Holders: 85

Snowflake Inc. (NYSE:SNOW) is an American cloud-based data storage company that ranks among the best high-growth stocks to invest in. The company operates a secure and scalable AI Data Cloud platform that allows organizations to collaborate, build AI-powered data apps, unlock data insights, and power their business with AI.

The company is strategically focused on AI advancements through collaborating, offering technical support, and funding innovation within the AI ecosystem. On February 27, Snowflake Inc. (NYSE:SNOW) announced that it will be deepening its investments in AI innovation by launching its Silicon Valley AI Hub at its Menlo Park campus. This 30,000-square-foot space, set to open in Summer 2025, will serve as a hub for developers, startups, and business leaders to learn and advance innovation in AI. The Silicon Valley AI Hub will feature facilities such as flex desks for startups, event spaces, training rooms, and a Customer Experience Center for executive meetings. Snowflake Inc. (NYSE:SNOW) also aims to invest up to $200 million in next-generation startups innovating on its AI Data Cloud through its Startup Accelerator Program. Additionally, the company is committing $20 million to AI upskilling initiatives and supporting over 4,000 customers with AI and machine learning capabilities.