Top 10 AI Stocks to Watch Ahead of Potential Market Correction

6. Hut 8 Corp. (NASDAQ:HUT)

Number of Hedge Fund Holders: 22

Hut 8 Corp. (NASDAQ:HUT) operates as a vertically integrated operator of energy infrastructure and Bitcoin miners in North America. It also offers managed services for energy infrastructure development, such as site design, procurement, and construction management. On January 13, Needham analyst John Todaro reiterated a Buy rating on the stock with an average price target of $38.00.

The buy rating comes amid reports that Hut 8 Corp. (NASDAQ:HUT) is partnering with social networking giant Meta Platforms to develop a multi-billion artificial intelligence data center. The two are reportedly working on a $12 billion AI data center as part of the tech giant’s push to further data centers in Louisiana. There is growing demand for data centers to handle and process huge troves of data and models amid the artificial intelligence revolution.