10 Trending AI Stocks on Wall Street

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OpenAI, the startup known to have started the AI arms race through its chatbot ChatGPT, is hitting new milestones as it soars to new heights. The company is all set to reach the 700 weekly active users mark for ChatGPT this week, up from 500 million in March.

This marks more than a fourfold year-over-year surge in growth for the conversational AI chatbot.

“Every day, people and teams are learning, creating, and solving harder problems.”

-Nick Turley, VP of product for ChatGPT.

The company’s paying business users on ChatGPT have also surged from three million in June to five million.

While ChatGPT may be growing tremendously, it is yet to reach the reported number of user numbers for Google’s AI Overviews, which boasts two billion monthly users across 200 countries.

Nevertheless, all kinds of AI chatbots, whether its ChatGPT or AI Overviews, are not only transforming how we search and process information, but also fueling an intense race amongst tech giants to dominate an AI-enabled future.

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.

Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points  (see more details here).

10 Trending AI Stocks on Wall Street

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10. Palantir Technologies Inc. (NASDAQ:PLTR)

Number of Hedge Fund Holders: 77

Palantir Technologies Inc. (NASDAQ:PLTR) is one of the 10 Trending AI Stocks on Wall Street.  On August 5, Wedbush analyst Dan Ives raised the price target on the stock to $200.00 (from $160.00) while maintaining an Outperform rating.

The company raised its full-year 2025 revenue guidance, projecting growth for its US commercial business due to strong adoption of its Artificial Intelligence platform among enterprise and federal customers.

Analysts led by Ives particularly cited continued hyper growth demand for Palantir’s AI product suite behind the rating affirmation and price target raise.

“We maintain our OUTPERFORM rating on PLTR while raising our price target from $160 to $200 reflecting continued hyper growth demand for the company’s AI product suite with the use case era of the AI Revolution now here. This was another eye-popping quarter for the Messi of AI as AIP continues gaining unprecedented interest across the commercial landscape with US Commercial front and center seeing 93% y/y growth with more enterprises looking to PLTR for complex AI use cases.”

The firm believes Palantir has the potential to be a trillion dollar market cap as the artificial intelligence revolutions gains ground.

“We believe Palantir has a “golden path to become the next Oracle” over the coming years and will grow into its valuation.”

Palantir Technologies Inc. (NASDAQ:PLTR) is a leading provider of artificial intelligence systems.

9. QUALCOMM Incorporated (NASDAQ:QCOM)

Number of Hedge Fund Holders: 82

QUALCOMM Incorporated (NASDAQ:QCOM) is one of the 10 Trending AI Stocks on Wall Street.  On July 31, Piper Sandler analyst Harsh Kumar lowered the firm’s price target on the stock to $175 from $190 and kept an “Overweight” rating on the shares.

The firm noted how Qualcomm has delivered slightly above expectations with guidance largely in-line with estimates. It has been implementing its diversification well, and is poised for growth in key areas such as auto and IoT.

QUALCOMM Incorporated (NASDAQ:QCOM) develops wireless technologies, supplies chips for mobile, automotive, and IoT, licenses patents, and invests in emerging tech.

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