Top 10 AI Stocks That Are Being Monitored By Wall Street

7. Reddit Inc. (NYSE:RDDT)

Number of Hedge Fund Holders: 52

Reddit Inc. (NYSE:RDDT) is a social media platform engaged in social news aggregation and content rating that has surged in popularity in the past years. The social media platform has a data-licensing agreement with OpenAI and Google, where companies pay Reddit Inc. (NYSE:RDDT) to access its data to enhance AI models. Currently, the social media platform is testing several AI-powered features on the app, including the latest AI Answers feature built on its search architecture to help users quickly find answers to queries from posts across subreds.

On January 28th, Piper Sandler analyst Thomas Champion highlighted a new app feature called Ads Manager, a beta option to import a campaign from the Meta Ads Manager. The brokerage views this as “an interesting strategy that can help onboard advertisers to Reddit from the 10MM+ that currently spend on Meta today,” and is confident it could be a topic of discussion on Reddit Inc.’s (NYSE:RDDT) earnings call on February 12th. Ahead of the call, Piper Sandler maintained an “Overweight” rating with a $197 target price per share.