Top 10 Trending AI Stocks on Wall Street

6. SES AI Corporation (NYSE:SES)

Number of Hedge Fund Holders: 14

SES AI Corporation (NYSE:SES) is a battery company that produces AI-enhanced high-performance Li-Metal and Li-ion batteries. On January 23, the company announced that it had won contracts with two existing major automotive OEM partners totaling up to $10 million. The contracts will allow applying artificial intelligence to develop new electrolyte materials for Li-Metal and Li-ion batteries for Electric Vehicles (EVs). New revenue from the contracts is anticipated to be partially recognized in the fourth quarter of 2024, while it is expected that the balance will be recognized through the first half of 2025.

“These new contracts with our automotive OEM partners are applying our AI-discovered electrolytes for Li-Metal B-sample developments and for the first time with mature Li-ion batteries already in commercial use. We believe this new revenue stream and these contracts validate and accelerate the commercial use of AI for Science for battery material discovery in automotive applications. We will work closely with our partners and with others in the space to extend our early leadership in this new opportunity”.

– Founder and CEO Qichao Hu.