In this article, we will look at the 10 AI Stocks That Are Surging.
The economic circumstances we are experiencing currently are certainly complex. Geopolitical crises, rising inflation, a new FED chairman, and the largest IPO in history pulling capital away from other stocks are just some of the variables investors are worried about. Amid that, however, the buildout of AI infrastructure seems to be on an unhindered trajectory so far.
Speaking to CNBC, Liz Ann Sonders of Charles Schwab noted that the scope of the AI buildout suggests the AI rally is likely to continue:
I think this is a broader AI tech infrastructure buildout that is not just accruing to the benefit of the large cap tech sector within the S&P
She points out the rotation within the tech sector, where different phases of the AI buildout are attracting money. So, while some AI stocks stay stagnant, others surge because the money is rotating into those stocks.
Despite overall concerns about the large capex and uncertainty about returns from such a buildout, certain AI stocks have continued to surge, showing no signs of weakness. In our article, 10 AI stocks that are surging, we identify these stocks to capitalize on their positive trajectory, with the expectation that if they perform well under these circumstances, they will continue to do so if conditions improve.
With that backdrop, let’s look at our list of the 10 AI stocks that are surging.
Methodology
To come up with our list of 10 AI stocks that are surging, we looked through ETFs and financial media to come up with AI stocks that have a market cap of at least $2 billion and have experienced significant investor interest, judging by their price action in the last month. They have also reported recent investor-worthy news and are listed in ascending order of their one-month stock performance.
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Note: All share price data is as of market close on June 26, 2026.
10. ASML Holding NV (NASDAQ:ASML)
One-month stock performance: 12.31%
During the last few trading sessions, ASML Holding NV (NASDAQ:ASML) has seen positive momentum. On June 15, Bernstein analyst David Dai raised the firm’s price target on ASML Holding NV from $1,911 to $1,971 while reaffirming an Outperform rating. The firm believes that rising DRAM capacity expansion and higher capital spending will drive demand for EUV systems over the coming years. The stock remains its preferred stock in the European semiconductor space.
On June 9, ASML became the first publicly traded company in European history to surpass a $700 billion market value. The AI tailwind has driven a strong rise in the company’s share price as investors continue to reward the company for its key role in supplying equipment used to manufacture AI chips. ASML has seen its valuation rise significantly due to high AI spending and investor sentiment about future growth in semiconductor manufacturing.
The company’s most recent Q1 earnings report showed a glimpse of the potential that is driving this analyst optimism. It reported revenue of €8.8 billion. Going forward, the company raised its full-year 2026 sales guidance to €36 billion and €40 billion. ASML also reaffirmed its long-term revenue targets of €44 billion and €60 billion for 2030.
Earlier, on June 3, JPMorgan raised its target price on ASML Holding NV to $ 2,200 from $ 1,813 and kept an Overweight rating on the stock. The main reason for JP Morgan’s positive stance on the company is strong customer demand, translating to a positive outlook for ASML. The firm told investors in a research note that the company is expected to produce more EUV chipmaking machines than the previously projected capacity of 90 EUV systems.
ASML Holding is the world’s leading manufacturer of photolithography machines, which are critical high-tech systems used by semiconductor companies (such as TSMC, Intel, and Samsung) to print tiny circuit patterns onto silicon wafers, thereby creating microchips.
9. Hewlett Packard Enterprise Company (NYSE:HPE)
One-month stock performance: 17.5%
Hewlett Packard Enterprise Company (NYSE:HPE) has seen some bullish analyst activity recently, with Susquehanna revising its target price upward from $21 to $65 and keeping a Neutral rating on the stock. This is in continuation of the general trend since the June 1 earnings report. Following the company’s solid earnings, Citi turned bullish on June 2 and increased the firm’s price target on the stock from $39 to $70 and reaffirmed a Buy rating. According to the firm, the company posted a significant earnings beat, surprising analysts.
Strong demand for AI technologies continues to support the company’s growth objectives. According to Susquehanna, stronger demand from HPE customers is leading to higher sales volume, which is helping the company maintain its pricing power. Moreover, the firm added that rising memory and storage costs are being passed on to customers rather than being absorbed by the company.
Hewlett Packard Enterprise Company posted its Q2 fiscal 2026 earnings on June 1. Revenue for the quarter came in at $10.7 billion, a 40% year-over-year increase. The earnings per share came in at $0.79, which comfortably beat the Wall Street consensus of $0.54.
Hewlett Packard Enterprise Company operates as a global technology provider focused on intelligent solutions. Its platforms help customers capture, analyze, and act on data from edge to cloud. The customer base ranges from small and medium-sized businesses to large enterprises and government organizations.
8. Fortinet Inc. (NASDAQ:FTNT)
One-month stock performance: 18.31%
On June 12, Barclays raised its target price for Fortinet Inc. (NASDAQ:FTNT) stock from $115 to $155 and maintained an Equal Weight rating. The company’s most recent earnings report on May 5 offered a glimpse of the potential that is driving this analyst optimism. The firm noted that the company is carefully managing channel inventory and has taken a cautious approach to its outlook for the second half of 2026. In response to a question by Jefferies analyst Joseph Gallo, the company confirmed that it does not see any increase in inventory going forward. It expects billings in the range of $2.09 billion to $2.19 billion in Q2.
In addition to Barclays, BofA also raised its price target on Fortinet Inc. to $180 from $130 and kept a Buy rating on the shares on June 8. In a research note to investors, the firm said that demand for FTNT products remains steady, with no signs of customers pulling forward purchases. Moreover, SASE and related markets are expected to be the next major drivers of growth.
Fortinet Inc. provides cybersecurity and networking-and-security convergence solutions worldwide.
7. Astera Labs, Inc. (NASDAQ:ALAB)
One-month stock performance: 20.41%
On June 24, Stifel Nicolaus roughly doubled its price target on Astera Labs, Inc. (NASDAQ:ALAB) from $260 to $460 and kept a Buy rating. The firm’s upward-adjusted price target reflects an additional 17% from current levels. According to the firm, strong earnings across the AI infrastructure space have reinforced its bullish outlook on the sector. It also believes any short-term pullback in AI-related stocks should be viewed as an attractive entry point for long-term investors.
Earlier on May 6, Astera Labs, Inc. announced its Q1 fiscal 2026 earnings. The company reported revenue of $308.4 million, up 93% year over year. The earnings per share came in at $0.16, which comfortably beat the Wall Street consensus of $0.18.
Going forward, ALAB expects its revenue to be between $355 million and $365 million for Q2 2026. This translates to an EPS of $0.68 and $0.70. CEO Mohan believed that the shift toward inference increased industry demand and opened up additional growth opportunities for the company.
Astera Labs Inc. is a global semiconductor company that provides hardware and software solutions for AI and cloud infrastructure applications to solve memory, data, and networking bottlenecks. The company’s operations are divided into the following geographical segments: Taiwan, China, the United States, and Other.
6. Micron Technology Inc. (NASDAQ:MU)
One-month stock performance: 21.96%
On June 15, TD Cowen raised the firm’s target price on Micron Technology Inc. (NASDAQ:MU) from $660 to $1500 and maintained a Buy rating on the stock. The firm remained optimistic about MU due to growing memory demand, particularly DRAM used in AI systems, alongside strong earnings growth in 2027. Moreover, with strong CPU demand, favorable memory pricing could continue through the second half of 2027.
In addition to TD Cowen, Wolfe Research analyst Chris Caso also raised the firm’s target price on Micron Technology Inc. to $1250 from $550 and reiterated an Outperform rating on June 11. The upward price target revision reflects a 10% upside from current levels. The firm raised its forecast for MU due to stronger expectations for memory chip pricing. The firm expects stronger memory pricing throughout 2026, something that was confirmed on the company’s earnings call earlier this week. While the memory supply crunch persists, investors continue to debate the stock’s valuation, resulting in severe volatility on either side of the earnings report.
Micron Technology Inc. provides memory and storage solutions sold into client, cloud server, enterprise, graphics, networking, smartphone, mobile-device, automotive, industrial, and consumer markets, among others.
5. Palo Alto Networks, Inc. (NASDAQ:PANW)
One-month stock performance: 22.43%
Palo Alto Networks, Inc. (NASDAQ:PANW) has seen some bullish analyst activity recently. On June 15, Michael Turrin of Wells Fargo revised his target price upward from $165 to $355. Alongside, the analyst reaffirmed his Buy rating on the stock. Within the span of just one week, the company has seen three upward target price revisions. Citi raised its price target to $340 from $210. BMO Capital did the same, raising its price target from $270 to $335. BTIG also raised its target price to $333 from $268.
Palo Alto Networks, Inc. posted its Q3 fiscal 2026 earnings on June 2. Revenue for the quarter came in at $3 billion, up 31% year over year. Looking ahead, fourth-quarter revenue is expected to range between $3.345 billion and $3.355 billion. This will translate to an EPS of $0.96 to $0.98. This guidance suggests that full-year 2026 revenue could be $11.415 billion to $11.425 billion and non-GAAP EPS of $5. The growth is expected to come from the company’s Next Generation Security segment, and the company aims to use its recent acquisitions to strengthen its product portfolio.
Palo Alto Networks, Inc. is a leading cybersecurity company that provides a range of products, including firewalls, malware protection, and cloud security.
4. Dell Technologies Inc. (NYSE:DELL)
One-month stock performance: 30.84%
On June 11, Dell Technologies Inc. (NYSE:DELL), along with its affiliates Dell International L.L.C. and EMC Corporation, announced plans to issue $3 billion in senior unsecured notes. The offering consists of three tranches maturing in 2031, 2034, and 2037, carrying interest rates of 4.750%, 5.000%, and 5.250%, respectively. The notes are jointly guaranteed by Dell Technologies, Dell Inc., and Denali Intermediate Inc. and were priced slightly below face value. The company plans to use the proceeds for general corporate purposes, including the possible repayment of existing debt. This supports its ongoing balance sheet and capital structure management.
Earlier, on June 9, Goldman Sachs raised its long-term outlook for both the AI and traditional server markets, citing continued strong demand for artificial intelligence. The firm now expects the AI server market to reach $1.24 trillion by 2030, up from its previous forecast of $961 billion. The revised outlook came after HP Enterprise and Dell Technologies Inc. reported solid quarterly results and increased their guidance. DELL gained market share in both the AI and traditional server markets, driven by the neo-cloud providers and enterprise customers.
Dell Technologies Inc. is a global technology company that develops and sells laptops, personal computers, networking equipment, servers, data storage systems, and related software and services. The company operates through the Client Solutions Group (CSG) and Infrastructure Solutions Group (ISG) segments.
3. Marvell Technology, Inc. (NASDAQ:MRVL)
One-month stock performance: 34.26%
During the last few trading sessions, Marvell Technology, Inc. (NASDAQ:MRVL) has seen positive momentum. On June 14, Rick Schafer from Oppenheimer reaffirmed a Buy rating on Marvell Technology, Inc. stock and set a target price of $250. Two days before this, Stifel Nicolaus analyst Tore Svanberg set a price target of $321 and also maintained a Buy rating on the stock. Analysts believe sector-wide tailwinds will trigger the upside in MRVL stock.
On May 27, MRVL provided optimistic guidance for Q2 fiscal 2027. It raised its revenue guidance to $2.598 billion. This translates to an EPS of $0.19. The semiconductor company guided for $3 billion in Q3 revenue, anticipating continued growth in its data center segment and a significant contribution from its custom silicon business to future revenue. In addition, the company now expects revenue to grow approximately 45% YoY in fiscal 2028 to $16.5 billion, which is around $1.5 billion higher than the earlier outlook.
Marvell Technology, Inc. develops semiconductor solutions for data infrastructure, including custom silicon, optical connectivity, data center switching, storage, security, Ethernet, and cloud networking products.
2. Okta Inc. (NASDAQ:OKTA)
One-month stock performance: 38.86%
During the last few trading sessions, Okta Inc. (NASDAQ:OKTA) has seen positive momentum. On June 9, UBS analyst Roger Boyd raised the firm’s target price on Okta Inc. to $150 from $115 and maintained a Buy rating. The upward price target revision reflects a 20% upside from current levels.
On a more bearish note, Mizuho analyst Gregg Moskowitz downgraded Okta Inc. to Neutral from an Outperform rating but raised his price target to $125 from $110 on June 2. The stark difference in price targets suggests how uncertain the environment is for software stocks at the moment. The analyst believes that while the company could benefit from the growth of agentic AI, much of that potential upside is already reflected in the stock price. As a result, the firm remains doubtful that OKTA can significantly accelerate its growth in the near- to medium-term. On a positive front, the analyst told investors in a research note that Okta Inc. shares rose sharply by 67% YTD.
Okta Inc. is an identity and access management company operating in the United States and around the world. The company offers Single Sign-on, Adaptive MFA, API Access Management, Access Gateway, Okta Device Access, and Universal Directory. It was founded in 2009 and is based in San Francisco, California.
1. Snowflake Inc. (NYSE:SNOW)
One-month stock performance: 42.05%
On June 9, Wells Fargo analyst Ryan MacWilliams raised the firm’s target price on Snowflake Inc. (NYSE:SNOW) to $320 from $300 and assigned a Buy rating to the stock. The upward price target revision reflects a 28% upside from current levels. In addition to Wells Fargo, two other analysts reaffirmed their Buy ratings on the stock in the first week of June. This includes Stifel Nicolaus and Bank of America Securities.
On June 2, at Snowflake Summit 26, the company highlighted the benefits of its partnership with Anthropic, which was announced in December 2025. It noted that the collaboration was increasing enterprise adoption of Claude through Snowflake Cortex AI. Christian Kleinerman, Snowflake’s EVP of Product, believed that the growing adoption of Claude by companies reflects increasing demand for AI tools. As a result, the company sees strong customer interest across its AI products, with Snowflake Cortex Code becoming the fastest-growing product in Snowflake’s history.
The AI tailwind has resulted in Snowflake’s Cortex Code having more than 7,100 users. Moreover, major enterprises are adopting the company’s AI solutions, including Basis, Block, Caravana, eSentire, Indeed, and Notion.
Steve Corfield, Head of Global Business Development & Partnership at Anthropic, remarked,
Snowflake brings the governed data environment enterprises already rely on, and Claude brings the reasoning to put that data to work. Together we’re making it easy for organizations to use trusted AI on their most critical business data.
Snowflake Inc. provides a cloud-based data platform that helps organizations store, manage, and share data across multiple public clouds. Its platform, called the Snowflake Data Cloud, supports diverse workloads including data engineering, analytics, machine learning, and secure collaboration.
