Top 10 AI Stocks on Wall Street’s Radar

8. DigitalOcean Holdings, Inc. (NYSE:DOCN)

Number of Hedge Fund Holders: 22

DigitalOcean Holdings, Inc. (NYSE:DOCN) is a public cloud provider that can support AI workloads. On January 17, Morgan Stanley upgraded DigitalOcean Holdings, Inc. (NYSE:DOCN) from Neutral to “Buy” and assigned a price target of $41. The firm is quite optimistic about DigitalOcean Holdings’ artificial intelligence opportunity. The cloud infrastructure provider has been expanding its product offerings to deal with the needs of its larger customers. It has also expanded its geographical presence, as well as introduced new offerings such as DigitalOcean Kubernetes, the App Platform, and Managed Databases. The transition towards the company’s “Scaler” customers is anticipated to bring about increased growth and improved unit economics. According to Morgan Stanley, the market hasn’t fully appreciated the company’s potential for developing artificial intelligence and machine learning strategies. Its AI/ML platform enables customers to build sophisticated AI applications. Customers can build and deploy AI models without the complexities of large cloud providers.