In a positive turn of events, Nvidia CEO Jensen Huang announced that the technology giant has received approval from US President Donald Trump to sell its advanced H20 computer chips. Jensen Huang is currently visiting Beijing and is set to speak at an event today, July 16th.
“Today, I’m announcing that the U.S. government has approved for us filing licenses to start shipping H20s.”
-Huang
“It’s so innovative and dynamic here in China that it’s really important that American companies are able to compete and serve the market here in China.”
The company’s AI chips have been a key focus of US export controls aimed at keeping advanced chips away from China and restricting the country from gaining traction in the AI arms race. However, Nvidia has been filing applications with the US government to resume sales and anticipates that it will receive the licences soon.
“The U.S. government has assured Nvidia that licences will be granted, and Nvidia hopes to start deliveries soon.”
Hearing this news, Chinese firms are now scrambling to buy the H20 artificial intelligence chips, as reported by Reuters.
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 Q1 2025.
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10. GitLab Inc. (NASDAQ:GTLB)
Number of Hedge Fund Holders: 52
GitLab Inc. (NASDAQ:GTLB) is one of the 10 AI Stocks Gaining Attention on Wall Street. On July 15, Rosenblatt initiated the stock as “Buy” with a $58 price target. The firm said that the software company is well-positioned for growth and share gains.
The technology landscape is witnessing increasing complexity in terms of application development, and there is a widespread adoption of AI-assisted coding. According to Rosenblatt, both of these factors are working in favour of GitLab.
The firm contended that even though generative AI is commoditizing parts of the coding process, it will eventually lead to more code creation. This, according to Rosenblatt, benefits platforms like GitLab that manage the full software development lifecycle.
The firm also pointed out that there is growth potential from selling its higher-tier “Ultimate” plans and adopting new AI-based add-on products. Since there are only a quarter of GitLab’s paying users currently on Ultimate, there is ample room to grow recurring revenue across its 10,000-plus customer base.
“In our view, the growth in and complexity of modern cloud and emerging GenAI applications and the upsell opportunity for GitLab provide significant runway for growth.”
“We believe GitLab has established itself as one of the two leading providers of comprehensive software development platforms, with over 30m registered users, and has broadened into many adjacent areas and additional personas, just in time to make the Company robust (and perhaps even anti-fragile) to the AI wave”.
GitLab Inc. (NASDAQ:GTLB) develops software for the software development lifecycle in the US, Europe, and the Asia Pacific.
9. ASML Holding N.V. (NASDAQ:ASML)
Number of Hedge Fund Holders: 80
ASML Holding N.V. (NASDAQ:ASML) is one of the 10 AI Stocks Gaining Attention on Wall Street. On July 15, Reuters reported that ASML is all set to report its second-quarter earnings on Wednesday, July 16th. Investors are hopeful that the chip-making equipment supplier has bookings robust enough to support its 2026 growth ambitions.
ASML said previously at an investor event last November that it saw 2026 as a growth year. However, it didn’t mention how much growth it anticipated. According to several analysts, ASML is a “make or break” quarter for the company, which will seemingly determine its course for the rest of the year.
“ASML would need to double our second-quarter order estimates (of 5.3 billion euros) to comfort our 2026 revenue forecast.”
-Barclays analyst Simon Coles told Reuters.
According to a consensus compiled by Visible Alpha, analysts forecast second-quarter bookings to reach 4.44 billion euros and 21.3 billion euros for the full-year.
ASML Holding N.V. (NASDAQ:ASML) develops and sells advanced semiconductor equipment, including lithography, metrology, and inspection systems for chip manufacturing.
8. Tesla, Inc. (NASDAQ:TSLA)
Number of Hedge Fund Holders: 104
Tesla, Inc. (NASDAQ:TSLA) is one of the 10 AI Stocks Gaining Attention on Wall Street. On July 15, Evercore ISI reiterated the stock as in line. The firm said it’s staying cautious on Tesla shares.
“We believe the stock, today, is increasingly both NOISE & SIGNAL based on: 1) Unabated negative revisions, 2) Disappointing AV rollout, 3) Increasingly divisive political posting, & 4) Technicals on edge.”
Analysts on Wall Street currently have a consensus “Buy” rating on the stock. The average price target of $319 implies a 2.6% upside; however, the Street-high target of $600 implies an upside of 60.8%.
Tesla, Inc. (NASDAQ:TSLA) is an automotive and clean energy company that leverages advanced artificial intelligence in its autonomous driving technology and robotics initiatives.
7. Broadcom Inc. (NASDAQ:AVGO)
Number of Hedge Fund Holders: 158
Broadcom Inc. (NASDAQ:AVGO) is one of the 10 AI Stocks Gaining Attention on Wall Street. On July 15, Oppenheimer reiterated Broadcom as “Outperform” and raised the firm’s price target to $305 from $265.
The firm affirmed the rating after increasing targets in the semiconductor group as part of a Q2 preview. According to Oppenheimer, most companies that are exposed to artificial intelligence are in for a “beat and raise” setup.
The firm is long-term bullish on the entire sector based on the powerful role of semis in AI and the broader technology value chain.
“Our top picks are NVDA , AVGO, MRVL, and MPWR.”
Particularly for Broadcom, Oppenheimer noted three factors supporting the bullish thesis: the company’s expanding earnings power over time, sticky and stable industrial and infrastructure exposure, and defensible technology. Broadcom deserves to trade at a multiple closer to in line with its peer group, the firm believes.
Broadcom is a technology company uniquely positioned in the AI revolution owing to its custom chip offerings and networking assets.
6. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)
Number of Hedge Fund Holders: 187
Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) is one of the 10 AI Stocks Gaining Attention on Wall Street. On July 15, Reuters reported that TSMC is anticipated to post a 52% jump in second-quarter profit, reaching record levels. However, U.S. tariffs and a strong Taiwan dollar could weigh on its outlook.
Mario Morales, group vice president at research firm IDC, noted that AI-related demand and growing foundry industry revenue may lead to TSMC’s sales growing close to 30%.
The contract chipmaker and key supplier to Nvidia and Apple is anticipated to report net profit of T$377.4 billion ($12.9 billion) for the three months through June 30, as per an LSEG SmartEstimate compiled from 21 analysts.
The company has already achieved a rise in second-quarter revenue of 38.6%. If it achieves any profit result above T$374.68 billion, it would mark its highest-ever quarterly net income and sixth consecutive quarter of profit growth.
Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) manufactures and sells advanced chips used in artificial intelligence applications.
5. NVIDIA Corporation (NASDAQ:NVDA)
Number of Hedge Fund Holders: 223
NVIDIA Corporation (NASDAQ:NVDA) is one of the 10 AI Stocks Gaining Attention on Wall Street. On July 15, Bernstein maintained its “Outperform” rating on the stock with a $185 price target. Several analysts raised their forecasts for the stock after Nvidia managed to win the approval of the US government for the sale of its H20 chips to China.
Analyst Stacy Rasgon said that even though Nvidia’s second-quarter results are unlikely to see the company ship enough chips to catch up on lost revenue, it is likely to witness the benefits in the second half that ends next January.
“Beyond the revenue/earnings recovery, we are glad to see NVDA able to compete at least somewhat in China as it limits potential for more structural risks. We always saw the H20 ban as unnecessary and, frankly, somewhat nonsensical as performance of the part is already low, and well below already-available Chinese alternatives; a ban would simply hand the AI market in China over to Huawei as well as encourage the growth of local ecosystem alternatives (with a risk that they filter out of China over time).”
“[E]very ~$10B of recovered NVDA China revenues would drive roughly 25 cents in additional EPS. Therefore, capturing an incremental $15-$20B in China revenue through the rest of the fiscal year would provide 40-50 cents in EPS upside for FY2026, all else being equal (10%+ or so accretion on current consensus?).”
NVIDIA Corporation (NASDAQ:NVDA) specializes in AI-driven solutions, providing high-performance GPUs and platforms that power data centers, autonomous vehicles, robotics, and cloud services.
4. Alphabet Inc. (NASDAQ:GOOGL)
Number of Hedge Fund Holders: 227
Alphabet Inc. (NASDAQ:GOOGL) is one of the 10 AI Stocks Gaining Attention on Wall Street. On July 14, BMO Capital analyst Brian Pitz raised the price target on the stock to $208.00 (from $200.00) while maintaining an “Outperform” rating.
The firm expressed optimism that Google’s AI products, particularly PMax and Gemini, will increase spending from existing advertisers. In an investor note, they mentioned how the products are likely to attract a new cohort of small and medium-sized businesses.
BMO raised its second-quarter 2025 and full-year 2025 Search growth forecasts to 10% and 11%, up from prior estimates of 9% and 10.6%. The firm also reintroduced Alphabet as its “Top Pick”, with shares trading at 18 times expected next-12-month earnings vs. 22.5 times 5-year average.
Alphabet Inc. (NASDAQ:GOOGL) is an American multinational technology conglomerate holding company wholly owning the internet giant Google, amongst other businesses.
3. Meta Platforms, Inc. (NASDAQ:META)
Number of Hedge Fund Investors: 273
Meta Platforms, Inc. (NASDAQ:META) is one of the 10 AI Stocks Gaining Attention on Wall Street. On July 15, BofA Securities analyst Justin Post raised the price target on the stock to $775.00 (from $765.00) while maintaining a “Buy” rating.
The rating adjustment follows CEO Mark Zuckerberg’s announcement on Threads that Meta is constructing several massive data centers to power its artificial intelligence efforts.
“We’re calling the first one Prometheus and it’s coming online in ’26. We’re building multiple more titan clusters as well.”
-Zuckerberg wrote Monday.
Besides Prometheus, a larger project named Hyperion is expected to deliver 2GW of compute capacity by 2030, with plans to scale up to 5GW overtime.
“We’re going to invest hundreds of billions of dollars into compute to build superintelligence. We have the capital from our business to do this.”
The firm believes these comments reflect confidence in Meta’s revenue trajectory and also that the level of investments highlighted reflects increased costs and spending ahead.
Moreover, Meta’s focus on AI-driven advertising is expected to boost its position in the online ad market. AI advancements such as spend automation and personalized targeting are likely to benefit Meta further, leading to increased revenue and market share. Even though regulatory pressures and higher expenses exist, the overall outlook on Meta is positive and supports a higher valuation.
“Meta is our 2025 top online ad stock as best-positioned company to benefit from AI-driven advertising share gains and upside.”
2. Microsoft Corporation (NASDAQ:MSFT)
Number of Hedge Fund Holders: 284
Microsoft Corporation (NASDAQ:MSFT) is one of the 10 AI Stocks Gaining Attention on Wall Street. On July 15, Wells Fargo analyst Michael Turrin maintained his “Overweight” rating on the stock and increased his price target by $15 to $600. The firm is bullish on the shares heading into Microsoft’s scheduled earnings release on July 30. It believes that the artificial intelligence boom can send Microsoft shares even higher over the coming months.
“We still see a bright future ahead for Microsoft, driven by continued growth prospects in huge categories of IT spend, ability to further monetize strong positioning in multiple end markets, and a financial profile that continues to exhibit durable margin expansion. We acknowledge shares are trading near historical highs, but think this is justified given its early AI lead and strong incumbent position in a tight market, esp. favorable in the current environment.”
Based on recent field work, the firm highlighted that demand for Microsoft’s AI tools and solutions isn’t slowing down. This, in turn, has boosted their optimism for the company’s upcoming quarter’s results and also for fiscal year 2026. The firm’s guidance for capital expenditures growth suggests “significant” AI spending for fiscal 2026, forecasting $100 billion in capital expenditures.
“While not necessarily expecting a repeat of MSFT’s 300bps Azure beat in FQ3, upbeat partner feedback to us suggests upside to 34-35% guide given robust core + AI demand—further building on last qtr’s ‘accelerated growth’ in Enterprise & improved scale motions.”
Microsoft Corporation (NASDAQ:MSFT) provides AI-powered cloud, productivity, and business solutions, focusing on efficiency, security, and AI advancements.
1. Amazon.com, Inc. (NASDAQ:AMZN)
Number of Hedge Fund Holders: 328
Amazon.com, Inc. (NASDAQ:AMZN) is one of the 10 AI Stocks Gaining Attention on Wall Street. On July 14, BofA Securities analyst Justin Post reiterated a Buy rating on the stock with a $248.00 price target following an analysis of Prime Day performance. The firm said it believes Amazon’s Prime Day was a success.
BofA estimates that Prime Day generated an estimated $21.4 billion in Gross Merchandise Value (GMV), a 60% year-over-year increase. The firm further noted that Prime Day lasted four days this year, which is double the days in 2024. This difference in days has affected yearly comparisons and led to average sales dropping by 20%, even though overall sales increased.
The analysis estimates that first-party sales growth will be 55% year-over-year to $11.45 billion. Moreover, it forecast third-party sales growth of 67% year-over-year to $9.95 billion during the shopping event.
“Also, we think initiatives like improved inventory placement & robotics likely drove fast shipping speeds (we received our orders in 1 to 2 days) and strong consumer satisfaction.”
Amazon.com Inc. (NASDAQ:AMZN) is an American technology company offering e-commerce, cloud computing, and other services, including digital streaming and artificial intelligence solutions.
While we acknowledge the potential of AMZN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than AMZN and that has 100x upside potential, check out our report about this cheapest AI stock.
READ NEXT: 10 AI Stocks Getting Wall Street’s Attention and 10 Must-Watch AI Stocks on Wall Street.
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