The Wall Street Journal has recently revealed OpenAI to be the mystery customer for Oracle’s colossal AI-computing deal—a predictable surprise.
The disclosure puts to rest the chatter going on the several billion-dollar contracts that Oracle won in its latest quarter without disclosing the clients behind them.
According to the report, OpenAI has signed a contract to purchase $300 billion in computing power over five years from Oracle. The contract is amongst the biggest in history, the Wall Street Journal reported.
“We believe ORCL has durable AI demand, helped by OpenAI, which should drive growth acceleration through FY28, and we are introducing our FY28 estimates ahead of the Oct Analyst event.”
-BMO Capital
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. SoundHound AI, Inc. (NASDAQ:SOUN)
Number of Hedge Fund Holders: 18
SoundHound AI, Inc. (NASDAQ:SOUN) is one of the 10 AI Stocks on Wall Street’s Radar. On September 11, Oppenheimer analyst Brian Schwartz initiated coverage on the stock with a Perform rating. According to the firm, SoundHound holds the potential to be a durable growth compounder backed by its robust conversational AI technology platform.
The company is a “technology advantage in the Voice AI market, a compelling value proposition, an enviable backlog-to-revenue ratio, and is well run.”
“We launch coverage on SOUN, a purpose-built conversational AI software company, with a Perform rating. In our view, SOUN has potential to be a durable growth compounder. The company has a strong conversational AI technology platform that’s supported by referenceable customers who view it as a leader in speech-to-meaning capabilities, data sciences, unstructured analytics, and technology vision.”
Nevertheless, the firm is concerned regarding potential newer competitive threats and that the “pace of penetrating existing and new verticals may not match the bullish expectations reflected in the sales multiple of 26x our 2026 EV/revenue estimate.”
SoundHound AI, Inc. (NASDAQ:SOUN) is a voice artificial intelligence company offering voice AI solutions to businesses.
9. HP Inc. (NYSE:HPQ)
Number of Hedge Fund Holders: 51
HP Inc. (NYSE:HPQ) is one of the 10 AI Stocks on Wall Street’s Radar. On September 10, Evercore ISI analyst Amit Daryanani downgraded the stock from Outperform to “In Line” with a price target of $29.00 stating that they don’t see further upside ahead.
The firm noted that for earnings or cash flow to grow meaningfully, stronger trends would be needed which aren’t visible right now due to several cross currents.
The PC market is anticipated to sustain growth, while printing may experience a low single-digits decline. The company has largely offset tariffs through its supply chain efforts and cost cutting. Nearly all North America products are made outside of China.
It also said that the company’s recent PC strength may be temporary, largely driven by customers who are buying ahead of anticipated tariffs. This could create risks for demand estimates in 2026. Other challenges highlighted by the firm were headwinds in the company’s printing division and increased competition from Dell.
“We are adjusting our rating to In Line (from OP) and maintaining our target of $29. Our downgrade reflects the fact that the stock is trading around our price target of $29 and for us to see further upside we need to see a clear path to EPS/FCF numbers moving higher, but that is unlikely to happen in the near-term given a host of cross currents, in our view. HP expects sustained growth in the PC market with the TAM expected to be up mid-single digits with the Win 11 upgrade cycle continuing to drive industry growth into FY26 as well. For Printing, the market should decline low single-digits. From a tariff mitigation perspective, HPQ indicated that they were able to mitigate the majority of cost via supply chain efforts, cost reduction, and pricing; in addition, nearly all North America bound products are now manufactured outside of China. The risk we see for HP could be that much of the strength, especially in PCs, is from pull-ins due to tariff worries and that could create some risk to estimates in FY26, especially in H1. At the same time the headwinds on print side (especially office) remain, and we could see DELL get more aggressive on the PC side given a renewed focus on DELL’s end to stabilize share. We note Street is modeling FY26 sales growth of +1.6% to $55.97B and EPS of $3.36. Net/Net: Shifting to an In Line rating but maintaining our $29 target.”
HP Inc. (NYSE:HPQ) is a technology company that specializes in personal computing and printing solutions.
8. Rubrik, Inc. (NYSE:RBRK)
Number of Hedge Fund Holders: 52
Rubrik, Inc. (NYSE:RBRK) is one of the 10 AI Stocks on Wall Street’s Radar. On September 10, Cantor Fitzgerald analyst Jonathan Ruykhaver reiterated an Overweight rating and $115.00 price target the stock.
The rating affirmation follows Rubrik’s robust second-quarter results which surpassed estimates across a number of metrics. It also added an estimated $71 million in net new annual recurring revenue (NNARR), outperforming consensus estimates.
Ruykhaver is optimistic about the stock, citing cloud adoption and data protection needs as long-term growth drivers. Moreover, new products such as Agent Rewind and Identity Resilience continue to demonstrate innovation.
“We reiterate our Overweight rating and maintain our 12-month price target of $115. Rubrik delivered an impressive 2Q26, beating FactSet consensus estimates on revenue, subscription ARR, operating income, and free cash flow. The firm delivered ~$71M in NNARR, well above consensus estimates, and raised its FY26 guidance across the board. We remain bullish on ongoing cloud migration and the rising importance of data resilience as key secular growth drivers, with Rubrik at the forefront of market innovation. Strong NRR and large deal activity underscore momentum in the platform strategy, while initiatives like Agent Rewind and Identity Resilience highlight continued innovation.”
Rubrik, Inc. (NYSE:RBRK) provides data security solutions to individuals and businesses worldwide.
7. Intel Corporation (NASDAQ:INTC)
Number of Hedge Fund Holders: 82
Intel Corporation (NASDAQ:INTC) is one of the 10 AI Stocks on Wall Street’s Radar. On September 9, Truist Securities analyst William Stein reiterated a Hold rating on the stock with a $21.00 price target following a virtual meeting between Intel and investors.
The firm acknowledged that Intel has been making progress in its “turnaround”. However, these improvements may take some time and success is uncertain. Therefore, it hasn’t made any changes to its estimates.
“INTC’s road to recovery remains long & uncertain. We recently hosted a virtual meeting between INTC and investors. We believe the company is making progress in its turnaround. Recall, we see four important categories for improvement: culture, competitive capabilities, AI strategy, and government / ecosystem engagement. We discussed developments among all of these, and came away slightly encouraged by developments. Still, in our opinion, these improvements are going to take a while…and success is far from certain. No change to our estimates or PT. Hold.”
Intel Corporation (NASDAQ:INTC) designs, manufactures, and sells computer products and technologies, delivering data storage, computer, networking, and communications platforms.
6. Advanced Micro Devices, Inc. (NASDAQ:AMD)
Number of Hedge Fund Holders: 113
Advanced Micro Devices, Inc. (NASDAQ:AMD) is one of the 10 AI Stocks on Wall Street’s Radar. On September 9, HSBC analyst Frank Lee lowered the price target on the stock to $185.00 (from $200.00) while maintaining a Buy rating.
The lower price target comes after the firm revised its assumptions regarding AMD’s MI355 chip average selling price (ASP). The firm now estimates the price to be $23,000 rather than $25,000 per unit, calling it a more “prudent assumption given differential pricing for different customers.”
The firm’s revenue estimates are still above consensus estimates, it noted, stating that it continues to believe that the street is underestimating the pricing potential.
“In our 10 July upgrade note Back in the AI game with a bang, we had highlighted that the pricing power of the MI355 might surprise the market and drive the upside potential in 2026e. The management also acknowledged a significant pricing uplift from MI325 in its latest earnings call. We slightly revise down our ASP estimates from USD25k to USD23k as we believe that it is a more prudent assumption given differential pricing for different customers. Driven by our revised ASP assumptions, we lower our 2026e AI GPU revenue estimates from USD15.1bn to USD13.9bn, still 20% above consensus estimates as we continue to believe that the street is still underestimating the pricing potential. Additionally, we expect most CSPs including Meta, Microsoft, Oracle, and xAI are starting to enter the testing phase with the MI400 rack solution, with results potentially by 4Q25 or early 1Q26. Hence, we expect to see better order visibility emerging by 1Q26 regarding MI400 revenue potential.”
Advanced Micro Devices, Inc. (NASDAQ:AMD) develops and sells semiconductors, processors, and GPUs for data centers, gaming, AI, and embedded applications.’
5. Tesla, Inc. (NASDAQ:TSLA)
Number of Hedge Fund Holders: 115
Tesla, Inc. (NASDAQ:TSLA) is one of the 10 AI Stocks on Wall Street’s Radar. One of the biggest analyst calls on September 11 was for Tesla. Wolfe reiterated the stock as “Peer Perform” stating that it is standing by its rating but appreciates Tesla’s energy component.
“Tesla’s current Automotive business and their future AI / Autonomy opportunities often garner the lion’s share of attention amongst investors. But we remain bullish on Energy, which has grown rapidly in recent years and is their most profitable segment (est 2025e revs up 31% to $13.2 bn, with ~29% Gross Margin).”
Tesla, Inc. (NASDAQ:TSLA) is an automotive and clean energy company that leverages advanced artificial intelligence in its autonomous driving technology and robotics initiatives.
4. Oracle Corporation (NYSE:ORCL)
Number of Hedge Fund Holders: 124
Oracle Corporation (NYSE:ORCL) is one of the 10 AI Stocks on Wall Street’s Radar. On September 10, Cantor Fitzgerald analyst Thomas Blakey raised the price target on the stock to $400.00 (from $271.00) while maintaining an Overweight rating.
The price target raise follows Oracle’s booming AI-related contracts that are driving massive growth in its cloud business. The company reported 359% year-over-year growth in Remaining Performance Obligations (RPO), an increase of $317 billion.
It has also raised its Oracle Cloud Infrastructure (OCI) estimates with visibility and revenue guidance extending to fiscal year 2030. The firm sees upside potential when comparing the $317 billion to new contracts to the FY26-30 outlook.
Overall, the firm expects the stock to trade on long-term AI growth potential.
“RPO wowed investors with a 359% increase y/y and a $ increase of $317 billion as the who’s who of AI signed contracts with Oracle during the quarter. As a result, Oracle meaningfully increased its OCI estimates with visibility and OCI revenue guide out to F30, which appears to have more upside potential when comparing the $317b incremental contract signings to the cumulative F26-F30 OCI revenue guide. Given the dramatic shift upward in estimates, we believe shares will trade off out-year forecasts and note that our $400 PT is ~10.5x F28E EV/R (vs. from $271 & 11.5x prior), using our pro forma b/s, a slight premium to recent multiples and more than warranted, in our view, given Oracle’s positioning to benefit from secular growth trends in AI training and inferencing as well as potential upside to increased forecasts.”
Oracle Corporation (NYSE:ORCL) is a database management and cloud service provider.
3. Apple Inc. (NASDAQ:AAPL)
Number of Hedge Fund Holders: 156
Apple Inc. (NASDAQ:AAPL) is one of the 10 AI Stocks on Wall Street’s Radar. On September 10, HSBC analyst Erwan Rambourg reiterated a Hold rating on the stock with a $220.00 price target. The rating follows Apple’s product keynote on September 9.
According to the firm, Apple delivered an awe-inspiring keynote with a range of iPhones, watch, and AirPods. It noted how the iPhone 17 series were similar to market expectations considering the various specifications and innovation leaked beforehand.
Despite the leaks, the firm noted how Apple’s hardware updates have stood out.
“Apple’s “awe-inspiring” keynote on 9 September showcased new products to be made available from 19 September, including a range of iPhones, a Watch, and AirPods. The iPhone 17 series is not different from market expectations as most of the innovation and specs were leaked beforehand. Hardware innovation is at every corner, from better screens, cameras, or batteries, and it would be dishonest to not flag the slickness of all phones presented. This is particularly true for the slim iPhone Air (5.6mm vs 5.5mm expectation). Same for Apple Watch: improved hardware for the Series 11, SE3, and Ultra 3, but also in line with expectation. On AirPods (Pro 3), innovation leads to improved sound quality and noise cancellation capabilities (2x vs AirPods Pro 2).”
Apple is a technology company known for its consumer electronics, software, and services.
2. 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 on Wall Street’s Radar. On September 4, Bernstein SocGen Group analyst Mark Li raised the price target on the stock to $290.00 (from $249.00) while maintaining an Outperform rating. The firm cited a better artificial intelligence outlook behind the rating affirmation.
According to the firm, strong AI demand, coupled with improving non-artificial segments, will lead to 33% revenue growth for the year. Export data confirms that there is a rapid ramp in the near term, whole CSPs signals reflect strong AI demand growth for the next year.
Meanwhile, non-AI demand is showing early signs of mild recovery and there is additional support coming from demand pulled forward to avoid tariffs.
” We assume conservative seasonality for 4Q25 but still find TSMC’s 2025 full-year US $ revenue to rise by 33%, above the guidance of 30%. With 23% earnings CAGR & the same 19x target forward P/E, we raise price target to NT$1,444 & maintain Outperform.”
Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) manufactures and sells advanced chips used in artificial intelligence applications.
1. NVIDIA Corporation (NASDAQ:NVDA)
Number of Hedge Fund Holders: 235
NVIDIA Corporation (NASDAQ:NVDA) is one of the 10 AI Stocks on Wall Street’s Radar. On September 11, D.A. Davidson upgraded the stock to “Buy” from Neutral and with a price target of $210, up from $195. The firm said that it is getting more bullish on the stock.
According to the firm, the growth in AI compute demand is going to drive enough demand that will sustain Nvidia’s growth next year and even beyond.
“We believe the growth in AI compute demand will drive enough demand to sustain NVDA’s growth into next year and likely beyond. While there are still several cross-currents, we believe those are not enough to change that trajectory and are upgrading to BUY from Neutral, raising our price target to $210 from $195. Our increasingly optimistic view of the growth in AI compute demand supersedes our list of concerns regarding NVDA. Our perspective that AI will transform work through labor itself, as opposed to the IT tech stack, lends itself to a continued ramp in compute demand even before enterprise customers see a return on investment.”
NVIDIA Corporation (NASDAQ:NVDA) specializes in AI-driven solutions, offering platforms for data centers, self-driving cars, robotics, and cloud services.
While we acknowledge the potential of NVDA 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 NVDA and that has 100x upside potential, check out our report about this cheapest AI stock.
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