10 Cheap AI Stocks to Buy According to Analysts

8. Upstart Holdings Inc. (NASDAQ:UPST)

Average Upside Potential: 26.52%

Upstart Holdings Inc. (NASDAQ:UPST) is one of the cheap AI stocks to buy according to analysts. On May 19, Upstart appointed Tim Wennes to its Board of Directors, effective May 28. He succeeds Jeff Huber, who is stepping down after five years of service on the company’s board. Wennes brings over 35 years of financial services experience, having recently served as President and CEO of Santander Holdings USA, where he led a digital and strategic transformation.

His background includes executive leadership roles at MUFG Union Bank and Countrywide Bank, with experience across segments of consumer lending, particularly automotive finance. While this announcement focuses on executive governance rather than a technical product launch, both leadership and Wennes highlighted the appointment as a strategic move during a period when AI is becoming essential to financial services.

Earlier on May 5, in its Q1 2026 earnings report, Upstart Holdings Inc. (NASDAQ:UPST) reported that the company advanced its AI models in the quarter to continue driving its core platform. More than 100 banks and credit unions use Upstart’s AI models and cloud applications to offer credit products, enabling lenders to approve more borrowers at lower rates while providing a digital-first experience. During Q1, 91% of the loans facilitated on Upstart’s marketplace were fully automated.

Upstart Holdings Inc. (NASDAQ:UPST) operates a cloud-based AI lending platform that uses ML models to assess credit risk and process unsecured personal loans, small-dollar loans, HELOCs, and auto refinance and retail loans.