8 Fastest Growing AI Stocks To Buy Right Now

3. Broadcom Inc. (NASDAQ:AVGO)

Year-Over-Year Revenue Growth Rate: 43.99%

3-Year Revenue CAGR: 23.39%

Number of Hedge Fund Holders: 161

Broadcom Inc. (NASDAQ:AVGO) is an American multinational company that designs, develops, manufactures, and supplies AI semiconductors. The company is also known for its enterprise software and security solutions. Broadcom Inc. (NASDAQ:AVGO) serves the data center, cloud, networking, broadband, wireless, storage, industrial, and enterprise software markets. AVGO ranks among the high-growth stocks in the AI sector.

On March 7, 2025, Piper Sandler reiterated its “Overweight” rating for Broadcom Inc. (NASDAQ:AVGO) and set a price target of $250. This decision was based on the company’s strong performance driven by its AI growth. Broadcom Inc. (NASDAQ:AVGO) reported strong earnings to exceed estimates for the January quarter and gave better-than-expected projections for the April quarter. A significant part of the company’s revenue came from its XPU and AI-related networking, which brought in $4.1 billion in the January quarter and is expected to rise to $4.4 billion in the April quarter to mark a 44% increase year-over-year. Broadcom Inc.’s (NASDAQ:AVGO) management noted that 70% of its largest software clients are now using VMware’s VCF. This highlights the company’s successful execution and innovation in the enterprise software space. Piper Sandler’s analyst expressed confidence in the company’s future growth in the AI and networking sectors.