According to a report from CNBC, companies are increasingly spending on agentic AI without fully understanding its capabilities. However, technology leaders must change this trend if they want to avoid wasting future investments.
“It’s not surprising that many organizations are still trying to figure out what agentic AI really is. Agentic AI has a buzz about it that many in the market want to capitalize on, and we’ve seen an incredible rebranding of anything related to generative AI presented as ‘agentic AI.’”
-Dan Diasio, global AI leader at consulting firm EY.
Diasio noted that many of the genAI use cases today are “assistants”. These tools allow users to type in prompts and the tool responds to it, suggests actions, or handles administrative tasks.
“But an agent has greater autonomy, recognizing when a task should be done and completing all the steps themselves while understanding the context of the situation. Both are useful, but the latter is vastly more powerful and aligned with the true potential of AI.”
A U.S. AI Pulse Survey reveals how investments in AI have been rising. However, only 14% of organizations have managed to fully adopted agentic AI technology.
“The survey shows that most organizations are not yet prepared for agentic AI’s demands,” Diasio said. “This includes having organized, high-quality knowledge to guide these systems and a clear understanding of how companies navigate the massive change between the current and future states.”
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. Atlassian Corporation (NASDAQ:TEAM)
Number of Hedge Fund Holders: 64
Atlassian Corporation (NASDAQ:TEAM) is one of the 10 AI Stocks in the Spotlight This Week. On September 23, Bernstein SocGen Group analyst Peter Weed reiterated an Outperform rating on the stock with a $296.00 price target. The rating affirmation follows Atlassian’s two recent acquisitions, both of which are expected to close before the end of the year.
The first of the two acquisitions is Browser Co for $610M, while the other is DX for $1B. The firm believes that both of the acquisitions are a “nice fit” for Atlassian’s Cloud Platform.
The company has successfully expanded its product lineup in the past through similar acquisitions, and while every deal may not pay off immediately, the firm is optimistic on its potential upside and the company’s ability to stay competitive.
“Overall, we are happy to see that Atlassian is picking up the pace of adding new features/products to its platform. Acquiring popular third-party tools built on top of Atlassian has been the company’s approach to expand its product offerings, and we have seen some successes in the past, such as its Jira Service Management product that was born from multiple small acquisitions. While there could be hits and misses and some investments may take years to bear fruits, we are optimistic in the potential upside and Atlassian’s ability to stay competitive.”
Atlassian Corporation (NASDAQ:TEAM) is a global software company that designs, develops, licenses, and maintains various software products worldwide.
9. Accenture plc (NYSE:ACN)
Number of Hedge Fund Holders: 65
Accenture plc (NYSE:ACN) is one of the 10 AI Stocks in the Spotlight This Week. On September 24, Evercore ISI analyst Amit Daryanani lowered the price target on the stock to $300.00 (from $330.00) while maintaining an Outperform rating.
As per the analyst, Accenture’s upcoming quarterly report seems promising. The firm expects it to deliver a “steady performance with some upside potential” owing to a stable FX backdrop and de-risked setup.
“ACN will report their Aug-qtr (FQ4) results on Thursday Sept 25 before market open and we think current consensus revenue/EPS estimates of $17.4B/2.97 appear appropriate (ACN should report in-line to slight upside) given a de-risked setup and a slightly more favorable f/x backdrop. From a y/y revenue growth perspective, the consensus FQ4 revenue estimate reflects ~5.5% reported growth, ~3-4% cc growth, and ~1-2% organic cc growth which we think is fairly prudent (as a reminder, ACN’s FQ4 guide embeds a ~2pt headwind from lower U.S. Federal government spending). For FQ1:26, the current consensus revenue estimate ($18.5B) reflects ~4% y/y growth and we estimate flat to slightly up organic cc performance which we think is reasonable (see potential for ACN to guide to modest upside vs. current consensus FQ1 estimates). For FY26, consensus revenue of $73.2B reflects ~5% reported growth (we estimate ~2% organic) and we think ACN’s full year revenue guide should bracket consensus. Other key items investors will focus on during ACN’s FQ4 print: 1) Bookings – Y/Y compares remain somewhat difficult (+24% y/y at cc last year) and we think performance could remain negative in FQ4 before improving as FY26 progresses. 2) AI – Contribution to revenue/bookings and y/y growth. 3) Update on US federal government spending headwinds. 4) Implications of new $100k fee for H-1B visas. Net/net: Expecting an in-line to slight upside for Aug-qtr, slight upside to FQ1:26 guide, and mostly in-line FY26 outlook. Maintain OP rating but lowering target to $300 to reflect recent cross-currents.”
Accenture plc (NYSE:ACN) offers strategy and consulting services.
8. Micron Technology, Inc. (NASDAQ:MU)
Number of Hedge Fund Holders: 94
Micron Technology, Inc. (NASDAQ:MU) is one of the 10 AI Stocks in the Spotlight This Week. On September 24, BofA Securities analyst Vivek Arya raised the price target on the stock to $180.00 (from $140.00) while maintaining a Neutral rating following the earnings print.
In a research note, the analysts told investors that Micron is benefiting from the “dual drivers” of surging artificial intelligence demand and tight supply discipline in the memory industry.
Traditional server CPU sales are also witnessing renewed demand driven by agentic AI, and so are solid state drives used in AI clusters. The firm has meaningfully increased estimates following the report, but reiterated a Neutral rating since much of the upside is already priced in the stock which is up 98% year-to-date.
“MU is benefiting from the dual-drivers of surging AI demand (driver of high bandwidth memory or HBM sales) and the memory industry’s (abnormal) supply discipline that has pushed up pricing in traditional (D4) and new (D5) markets. In addition, there is an underappreciated resurgence in traditional server CPU sales driven by agentic AI (positive for AMD) and in high-capacity solid state drives used in AI (inference) clusters. GM was guided to 51.5% in FQ1 (600bps above consensus) and to expand again into seasonally softer Q2, suggesting continued pricing strength. We meaningfully raise FY26/27E estimates, by 38%/56% to $16.28/$17.55. We raise our PO to $180 from $140 on higher 2.6x CY26E P/B (vs 2.2x prior) on stronger margins, though still within 0.8x-3.1x l-t range. Reiterate Neutral given: 1) FQ4 HBM sales were largely in line around $2bn, with MU attaining its HBM market share, 2) Samsung entry into HBM market could impact industry share (and pricing) in CY26, and 3) Much of the EPS revisions were expected by investors based on the +98% YTD stock run (vs. SOX +27%). Read-across wise, we see AI strength as positive for NVDA, AVGO; traditional server CPU strength positive for AMD; and potential for somewhat higher memory capex positive for AMAT and somewhat for LRCX.”
Micron Technology, Inc. (NASDAQ:MU) develops and sells memory and storage products for data centers, mobile devices, and various industries worldwide.
7. Adobe Inc. (NASDAQ:ADBE)
Number of Hedge Fund Holders: 104
Adobe Inc. (NASDAQ:ADBE) is one of the 10 AI Stocks in the Spotlight This Week. On September 24, Morgan Stanley analyst Keith Weiss downgraded the stock from Overweight to Equalweight driven by slower AI monetization. It holds a price target of $450.00 (from $520.00) on the stock.
Analysts at Morgan Stanley stated that they had previously been bullish on the stock expecting GenAI to accelerate growth in its Digital Media Business. However, Adobe’s revenue growth has failed to keep up the pace despite rolling out new AI features quickly.
Direct AI monetization has been slower than hoped as the company focused on adoption first. There is also considerable uncertainty regarding how much GenAI advancements will benefit Adobe’s business.
Overall, the firm still believes in Adobe’s core strengths and AI potential, but sees limited near-term catalysts amid competitive pressure from Meta and Google which could become material.
“Our prior OW thesis on Adobe was predicated on the ability for the company to successfully innovate on, deliver, and eventually monetize Generative AI functionality across the customer base, leading to an inflection in Digital Media ARR growth to the ~mid-to-high teens. Since that upgrade, we have seen the Digital Media ARR growth directionality diverge from the pace and quality of innovation being embedded within the product portfolio, leading us to the following conclusions: 1) Direct ‘Gen AI’ monetization has lagged initial investor (and our) expectations, explained by Adobe’s propensity to foster ubiquity and broad adoption of the technology ahead of monetization; and 2) there is relative uncertainty in a sizable portion of the Adobe ARR base where we lack confidence in Gen AI advancements being a net positive. Related to the latter, as we recently discussed (See Software: Checking the Software Pulse – “I’m Not Dead Yet”), the recipe for turning around sentiment on the legacy SaaS applications group necessitates vendors demonstrating a convergence of stabilization in the core business plus the ability for Gen AI capabilities to enhance and expand their addressable market opportunity. As such, decelerating Digital Media ARR growth despite 1) an accelerated pace of innovation, 2) ramping usage and adoption metrics against that innovation, and 3) the benefit from price action has left investors questioning Adobe’s ability to demonstrate this equation. To be clear, we continue to believe in both Adobe’s core value proposition and the expanded value capture opportunity Gen AI presents for complex, multi-channel marketers. However, given a lack of visibility into buckets of the base where competitive pressures (from both external Diffusion Engines and the likes of Meta/Google) could prove more material, we struggle to paint a clear catalyst path to DM ARR growth acceleration.”
Adobe Inc. (NASDAQ:ADBE) is a software company that provides digital marketing and media solutions.
