Top 10 AI Stocks to Watch Amid US-China AI War

7. Axon Enterprise Inc. (NASDAQ:AXON)

Number of Hedge Fund Holders: 46

Axon Enterprise Inc. (NASDAQ:AXON) develops, manufactures, and sells conducted energy devices (CEDs) under the TASER brand. The company has been on a growth trajectory owing to its expanding product portfolio and increased focus on artificial intelligence and software solutions. Likewise, on February 4th, Trevor Walsh of JMP Securities reiterated that the stock is a buy and increased the price target to $725 from $610.

While the TASER and body cameras segment has been the main driver of underlying growth, AI initiatives are also starting to elicit significant interest on Wall Street. Axon Enterprise Inc. (NASDAQ:AXON) is increasingly leveraging artificial intelligence to develop law enforcement solutions that make public safety faster, smarter, and more effective. Analysts are projecting a $1.8 billion opportunity in annual recurring revenue as the company empowers officers and safeguards communities with real-world AI-powered solutions. This move towards software and AI integration influences Axon’s long-term growth strategy and capacity to sustain rapid revenue growth rates.