We recently compiled a list of the 10 Emerging AI Stocks that Outperformed the Broader Market This Month. In this article, we are going to take a look at where Iveda Solutions, Inc. (NASDAQ:IVDA) stands against the other emerging AI stocks.
In an interview with CNBC on November 25, Dan Ives, Global Head of Technology Research at Wedbush Securities said that he sees the AI sector entering a new phase, describing it as the start of a “fourth industrial revolution.” He believes the AI market is still in its early stages but will continue to grow rapidly. Ives highlighted software companies, which he believes will be key players in AI’s future, especially by 2025.
Apart from a handful of skeptics, most experts and analysts see AI as the most revolutionary technology of the 21st century. There has also been a rise in AI startups. According to a June report by Morgan Stanley, the tech IPO market is picking up after a two-year pause. High interest rates had previously dampened IPO activity, but demand is returning, especially for companies using AI to improve business operations or customer experiences. While challenges like high capital costs remain, the AI-driven growth in tech and healthcare sectors is fueling the IPO revival.
Read Also: 15 AI Stocks on Wall Street’s Radar and Jim Cramer’s List of 7 Energy Stocks for the Trump Trade.
Anticipating the Next Wave of Startup IPOs
One of the most promising startups the market is watching is Anthropic AI, an AI company focused on developing safe and reliable large language models. It has received funding from big names, including Amazon. The partnership designates AWS as Anthropic’s primary cloud and training partner, with a focus on improving AI capabilities through collaboration on machine learning hardware development.
Additionally, AI chipmaker Cerebras is seeking to go public with a valuation of around $7 to $8 billion, building on strong AI infrastructure demand. The firm filed for an IPO on September 30. MS expects 10 to 15 tech IPOs in 2024, driven by companies using AI in sectors like technology and healthcare.
Read more about these developments by accessing 30 Most Important AI Stocks According to BlackRock and Beyond the Tech Giants: 35 Non-Tech AI Opportunities.
For this article, we chose 10 AI stocks that have outperformed the S&P 500 over the last 30 days as of November 27. They are also popular among hedge funds.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).
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Iveda Solutions, Inc. (NASDAQ:IVDA)
30-day Stock Price Performance: 14.5%
Iveda Solutions, Inc. (NASDAQ:IVDA) provides AI and digital transformation technologies, including deep-learning video analytics, IoT platforms, and smart power solutions. Its products serve sectors like airports, commercial buildings, and data centers, with applications in surveillance, smart infrastructure, and AI-driven systems.
Iveda (NASDAQ:IVDA) was trading near its 52-week low a few weeks ago and is down nearly 62% year-to-date. However, the company’s stock price has shown a positive recovery over the last 30 days, especially since November 15. It could be likely due to recent news about the company’s advancements in AI.
On November 14, Iveda (NASDAQ:IVDA) introduced an updated version of IvedaAI, a video analytics platform that combines object recognition with generative AI to offer advanced, scalable, and cost-efficient video intelligence. The new version, available in beta in January 2025, includes a conversational assistant, automatic camera configuration, and improved AI capabilities for smart cities, educational campuses, retail, and other sectors. The company promises improved traffic monitoring, school security, and inventory management with automated, adaptable video intelligence.
Overall IVDA ranks 8th on our list of the emerging AI stocks that outperformed the broader market this month. While we acknowledge the potential of IVDA as an investment, 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 IVDA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock.
Disclosure: None. This article is originally published at Insider Monkey.