On Tuesday, October 28, Nvidia CEO Jensen Huang announced that the AI chip maker will build seven new supercomputers for the U.S. Department of Energy. He also revealed that the company has $500 billion in bookings for its AI chips.
Shares of the heavyweight chipmaker closed almost 5% higher on Tuesday, adding over $230 billion in market value. This brought its total value to $4.89 trillion after briefly touching the $4.94 trillion mark, placing it on the verge of becoming the first company worth $5 trillion.
Nvidia is becoming the leading force behind the global rollout of AI, striking new deals and managing escalating US-China trade tensions. Huang has recently revealed that the Chinese government has shut Nvidia out of its market. Moreover, the company had not applied for U.S. export licenses for its newest chips because of the Chinese position.
“They’ve made it very clear that they don’t want Nvidia to be there right now. I hope that will change in the future because I think China is a very important market.”
For this article, we selected AI stocks by going through news articles, stock analysis, and press releases. These stocks are also popular among hedge funds. The hedge fund data is as of Q2 2025.
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10. Bloom Energy Corporation (NYSE:BE)
Number of Hedge Fund Holders: 44
Bloom Energy Corporation (NYSE:BE) is one of the 10 AI Stocks Analysts are Tracking Closely. On October 27, UBS analyst Manav Gupta reiterated a Buy rating on the stock with a $115.00 price target. The firm cited policy tailwinds expected to enable faster grid approvals and fuel data center demand.
UBS pinpointed a recent Bloomberg report about U.S. Energy Secretary Wright sending a draft proposal to the Federal Energy Regulatory Commission (FERC) that would limit the regulator’s review period for data-center connections to the power grid to 60 days. This proposal, if approved, can significantly shorten a process that can currently take years.
With American Electric Power (AEP) already partnering with Bloom Energy to supply power to data centers, BE can supply fuel cells in 6 to 9 months, which is quicker than gas turbines.
If the rule pushes through, BE is going to have a surge in demand for its fuel cells, and is already securing projects.
“Bloomberg reports US Energy Secretary Wright yesterday sent a draft proposal to the Federal Energy Regulatory Commission (FERC) that would limit the regulator’s review period for data-center connections to the power grid to 60 days, expediting a process that can currently extend for years…We have already seen American Electric Power (AEP) tie up with BE to supply power to data centers. Given the longer lead time for gas turbines, one of the faster ways for utilities to secure this the supply of electricity is using BE’s nat gas powered fuel cells. If the Trump administration succeeds in shrinking the timeline of regulatory approval, that would allow data centers to come online at a faster pace. BE has the capacity to supply fuel cells in 6-9 months to the utilities to then move ahead with the project. BE is already securing a number of behind the meter orders to power data centers. This move would result in acceleration of orders for front of the meter solution with potentially more utilities announcing deals with BE similar to the one we saw with AEP.”
Bloom Energy Corporation (NYSE:BE) develops solid-oxide fuel cell systems for on-site power generation, helping meet the growing energy demands of AI data centers.
9. Core Scientific, Inc. (NASDAQ:CORZ)
Number of Hedge Fund Holders: 78
Core Scientific, Inc. (NASDAQ:CORZ) is one of the 10 AI Stocks Analysts are Tracking Closely. On October 28, H.C. Wainwright upgraded the stock from “Neutral” to Buy and set a price target of $25.00. The rating upgrade follows recommendations from proxy advisory firms ISS and Glass Lewis, both of which have issued “against” votes for the proposed acquisition of Core Scientific by CoreWeave (CRWV) scheduled for October 30.
The firm highlighted Core Scientific’s proven competencies, including its ability to develop compute-focused infrastructure quickly and at low cost, its expertise in artificial intelligence compute builds, and its record in customer acquisition and support.
Based on this proven track record and leadership in AI compute build out, the firm’s view of Core Scientific hasn’t changed, and in turn resulted in a rating upgrade.
“Apparently, they are leaning against. Last week, both ISS and Glass Lewis, the two leading proxy advisory firms, conjointly issued “against” votes on behalf of Core Scientific voters in the upcoming Oct. 30 CoreWeave (CRWV; Buy) proposed acquisition. We are certainly not bringing anything new to the table here as a contingent of sharp sell-siders have set new, elevated expectations for Core Scientific and its shares. By way of explanation, we spent last week on the other side of the world, news-wise isolated á la Tom Hanks’ Cast Away, and unable to react quickly, as is our preference—we were the first to upgrade Core Scientific post its bankruptcy emergence Jan. 25, 2024, as detailed here we offer as evidence of understanding the company’s many competencies. Nothing has changed on that front, with the original $10.2B, 12-year HPC hosting deal struck with CoreWeave representing the foundation of the opportunity before Core Scientific’s proven speed-to-market track record. With Core Scientific’s proven proficiency in: (1) developing compute-focused, powered infrastructure at velocity and at low cost; (2) industry-leading artificial intelligence compute build technical savvy; and (3) verified customer acquisition, retention, and support, we are raising our rating to Buy from Neutral and setting a $25 price target.”
Core Scientific, Inc. (NASDAQ:CORZ) has transitioned into an AI business by leveraging advanced infrastructure and expertise in HPC (high-performance computing).
