Top 10 High Flying AI Stocks This Week

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1. Uber Technologies Inc. (NYSE:UBER)

Number of Hedge Fund Holders: 136

Uber Technologies Inc. (NYSE:UBER) develops and operates proprietary technology applications. Its mobility segment connects consumers with a range of transportation modalities, while the delivery segment allows searching for and discovering restaurants, including grocery, alcohol, convenience, and other retail locations. Its Freight segment manages the transportation and logistics network. The stock has caught the Goldman Sachs analyst’s attention, who upgraded it to a Buy on January 15 with a $141.25 price target.

Analysts at Goldman Sachs remain bullish about Uber Technologies Inc.’s (NYSE:UBER) long-term prospects amid the integration of artificial intelligence into autonomous vehicle technology in the ride-sharing industry. The remarks come on Uber inking strategic collaboration with Nvidia to support the development of AI-powered autonomous driving technology. Uber is certain that its partnership with NVIDIA will accelerate the industry’s transition to safe and scalable autonomous driving solutions.

Uber Technologies Inc.’s (NYSE:UBER) AI-powered innovations, which are fueled by NVIDIA’s computational prowess, are intended to push the limits of driverless cars and revolutionize the transportation industry. With the potential to upend the entire autonomous driving market, this strategic partnership allows Uber to access new revenue streams.

As we acknowledge the growth potential of Uber Technologies Inc. (NYSE:UBER), our conviction lies in the belief that AI stocks hold great promise for delivering high returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than UBER but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap.

Disclosure: None. This article was originally published at Insider Monkey.

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