According to Nvidia CEO Jensen Huang, the spending boom on artificial intelligence chips is far from over, with the market projected to surge into the multi-trillion-dollar range over the next half-decade.

Indeed, tech giants and startups alike are racing to secure the processors powering the next wave of artificial intelligence, while countries like China are striving to make their own and establish independency.

Despite Huang’s optimism on AI demand, the company’s stock fell after it reported a tepid third-quarter sales forecast that excluded potential revenue from China.

“A new industrial revolution has started. The AI race is on,” Huang said. “We see $3 trillion to $4 trillion in AI infrastructure spend by the end of the decade.”

Moreover, there seems to be some signs of contradiction to Huang’s statements given the signs of fatigue seen in some AI-focused stocks as well as cautionary remarks from industry experts. OpenAI CEO Sam Altman, for instance, has warned recently that investors may be “overexcited” about AI.

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. Serve Robotics Inc. (NASDAQ:SERV)

Number of Hedge Fund Holders: 10

Serve Robotics Inc. (NASDAQ:SERV) is one of the 10 Trending AI Stocks on Wall Street. On August 27, Wedbush analyst Daniel Ives initiated coverage on the stock with an Outperform rating and a price target of $15.00.

The firm believes that the autonomous company has the potential to capitalize on the increasing adoption of AI-driven last mile delivery vehicles.

“We are initiating coverage on Serve Robotics with an OUTPERFORM rating and a $15 price target. In our view, Serve Robotics has established a pioneering autonomous delivery platform that is uniquely positioned to capitalize on the accelerating adoption of AI-driven last mile delivery vehicles.”

Dan Ives said that the company’s platform enables its robotic fleet to safely navigate city streets and sidewalks. It can do this while providing reliable, contactless service and that too, without technical expertise needed from users.

“Serve is positioning itself within the industry by building multiple revenue streams, including delivery, software services, and advertising providing multiple avenues to generate stable top-line growth while capitalizing on increased enterprise desire to automate the commerce industry,” updated Ives. “With plans to grow its autonomous robot fleet to 2,000 by the end of 2025, establish new partnerships, and launch operations in additional cities with favorable regulatory environments, Serve is strongly positioned to gain market share as demand rises for automation, operational efficiency, and sustainable delivery solutions.”

Serve Robotics Inc. (NASDAQ:SERV) designs, develops, and operates low-emission robots.

9. CoreWeave, Inc. (NASDAQ:CRWV)

Number of Hedge Fund Holders: 29

CoreWeave, Inc. (NASDAQ:CRWV) is one of the 10 Trending AI Stocks on Wall Street. On August 27, Cantor Fitzgerald analyst Thomas Blakey initiates coverage on the stock with an Overweight rating and a price target of $116.00.

The firm said its bullish on shares of CoreWeave, with their rating backed by the view of a healthy balance between significant AI market opportunity and dynamic execution risks.

“We believe CoreWeave should benefit from secular growth trends in AI, specifically large language model (LLM) training and inference based usage, as an enabling software-driven AI-focused hyperscaler, comfort in near-term demand/supply imbalance, and competitive differentiation. This relatively unique demand and top-line growth setup in coming years creates longer-term customer concentration, financing, and power-related execution risks that we explore in the report.”

CoreWeave, Inc. (NASDAQ:CRWV) is a cloud platform provider that provides equipment for AI and other computing purposes.

8. HP Inc. (NYSE:HPQ)

Number of Hedge Fund Holders: 51

HP Inc. (NYSE:HPQ) is one of the 10 Trending AI Stocks on Wall Street. On August 28, JPMorgan analyst Samik Chatterjee raised the price target on the stock to $30.00 (from $27.00) while maintaining an Overweight rating.

The rating affirmation follows the company’s fiscal third-quarter report, demonstrating strong demand trends in the PC market.

The analysts state that these trends are anticipated to reduce the risk of lowered estimates for fiscal 2025, thereby offering a positive outlook for HPQ moving forward.

HP Inc. (NYSE:HPQ) is a technology company that specializes in personal computing and printing solutions.

7. Astera Labs, Inc. (NASDAQ:ALAB)

Number of Hedge Fund Holders: 56

Astera Labs, Inc. (NASDAQ:ALAB) is one of the 10 Trending AI Stocks on Wall Street. On August 27, Stifel analyst Tore Svanberg reiterated a Buy rating on the stock with a $174.00 price target.

The rating reflects the firm’s optimism that Astera Labs can manage potential supply chain constraints effectively especially regarding Taiwan Semiconductor Manufacturing Company’s (TSMC) leading-edge nodes.

Stifel highlighted how TSMC’s early investment in the company has helped it secure manufacturing capacity despite industry-wide shortages.

“We believe ALAB remains well positioned to continue to manage potential supply chain constraints effectively, particularly with TSMC’s leading-edge nodes. TSMC’s early investment in ALABS, coupled with the overlap between the company’s customers and TSMC’s customer base, have also helped secure capacity, supporting the company’s rapid growth despite industry-wide tightness in substrates and manufacturing.”

Astera Labs, Inc. (NASDAQ:ALAB) is engaged in the design, manufacture, and selling of semiconductor-based connectivity solutions for cloud and AI infrastructure.

6. CrowdStrike Holdings, Inc. (NASDAQ:CRWD)

Number of Hedge Fund Holders: 66

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) is one of the 10 Trending AI Stocks on Wall Street. On August 28, Wells Fargo reiterated the stock as “Overweight” stating that the cyber security company is firing on all cylinders. This is demonstrated by its latest quarterly results.

“CrowdStrike delivered solid results in 2Q26, highlighted by net new [annual recurring revenue] returning to growth one quarter earlier than expected.”

Besides the solid results, management’s guidance has also been optimistic for the second half of 2026. It anticipates a 40% year-over-year increase in net new ARR, an indicator of future growth.

Moreover, Falcon Flex program has largely been a success, witnessing over 1000 customers with major ARR contributions. Other emerging products also seem to be doing well, with ARR shooting up significantly headed by the next-gen SIEM solution.

These positive catalysts, together with strategic acquisitions such as of Onum, place Crowdstrike in a strong position for continued expansion and success.

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) is a leader in AI-driven endpoint and cloud workload protection.

5. Marvell Technology, Inc. (NASDAQ:MRVL)

Number of Hedge Fund Holders: 76

Marvell Technology, Inc. (NASDAQ:MRVL) is one of the 10 Trending AI Stocks on Wall Street.  Marvell Technologies is set to report its second-quarter fiscal 2026 earnings on Thursday, August 28. Wells Fargo believes that the company will report stable guidance and momentum in its custom silicon business.

The firm has projected revenue of $2.01 billion and non-GAAP earnings per share of $0.67, in line with Wall Street consensus of $2.01 billion and $0.67 per share respectively. Meanwhile, gross margin will likely stay near 59.5%, whereas operating expenses at about $495 million.

Data center revenue, representing more than three-quarters of the company’s total, is anticipated to grow by a mid-single-digit percentage from the previous quarter. Enterprise networking and carrier infrastructure will likely grow at a similar pace.

One area expected to play a pivotal role in the earnings print is custom silicon. Wells Fargo projects Marvell’s custom silicon revenue to reach $427 million in the quarter, up 12% from the previous period. The segment would make up almost one-third of data center revenue and about 23% of the company’s total.

Investors should also be looking out for optics, with revenue anticipated to expand at a 21% compound annual growth rate between fiscal 2025 and fiscal 2028 on the back of artificial intelligence demand and data center buildouts.

Marvell Technology, Inc. (NASDAQ:MRVL) engages in the development and production of semiconductors, focusing heavily on data centers.

4. Snowflake Inc. (NYSE:SNOW)

Number of Hedge Fund Holders: 100

Snowflake Inc. (NYSE:SNOW) is one of the 10 Trending AI Stocks on Wall Street. On August 28, Raymond James analyst Simon Leopold raised the price target on the stock to $230.00 (from $212.00) while maintaining an Outperform rating.

The firm came away bullish on the stock following a beat and raise quarter for fiscal year 2026. The Cloud data platform provider reported revenue of $1.14 billion, surpassing analyst expectations of $1.09 billion.

Meanwhile, adjusted EPS came in at $0.38, above analyst estimates of $0.27. Looking ahead, the company has raised its full-year product revenue guidance to $4.395 billion, reflecting a 27% year-over-year growth.

CEO Sridhar Ramaswamy highlighted Snowflake’s leadership in AI data platforms, indicating that it is the “best AI data platform that there is.”

“We maintain our Outperform rating following a beat and raise F2Q26 report. Shares were up ~10% after-hours. Commentary was positive on traction with Cortex and AI more generally, with 25% of use cases deployed this quarter involving A.I. Our price target comes up to $230.”

Snowflake Inc. (NYSE:SNOW) is a cloud-based data storage company providing a data analysis, storage, and sharing platform.

3. Salesforce, Inc. (NYSE:CRM)

Number of Hedge Fund Holders: 121

Salesforce, Inc. (NYSE:CRM) is one of the 10 Trending AI Stocks on Wall Street. On August 28, Cantor Fitzgerald analyst Matthew VanVliet reiterated an Overweight rating on the stock with a $325.00 price target. The rating comes ahead of earnings print on Wednesday, September 3^rd.

The firm believes that investors should look out for growth in Data Cloud, Agentforce, Service Cloud, as well as forward pipeline activity heading into Dreamforce.

Continued weakness is expected in marketing and commerce cloud performance, while Sales Cloud growth is likely to demonstrate in-line growth.

Speaking with partners, it has been revealed that AI-powered Agentforce projects are moving forward into Phase II of projects with an estimated 40% of customers likely to expand deployment the next 12 months.

“This is supported by our fieldwork over the past few months, which points to extensive activity around adopting and expanding Data Cloud footprints to power Agentforce, the majority of the latter remains in testing and pilot phases. That said, we have spoken with some partners more recently who are now seeing about 20% of Agentforce projects move forward into Phase II of projects (from 1-2 use-cases to 5-15 broader deployments), with expectations that nearly 40% of customers could be expanding scope over the next 12 months.”

Salesforce, Inc. (NYSE:CRM) is a cloud-based CRM company that has gained popularity after it unveiled its AI-powered platform called Agentforce.

2. Broadcom Inc. (NASDAQ:AVGO)

Number of Hedge Fund Holders: 156

Broadcom Inc. (NASDAQ:AVGO) is one of the 10 Trending AI Stocks on Wall Street. One of the biggest analyst calls on August 28 was for Broadcom. Oppenheimer reiterated the stock as “Outperform” stating that it’s sticking with Broadcom ahead of earnings on September 4.

The analyst stated that Broadcom is the “no. 2 AI franchise” after Nvidia due to its leadership in the AI ASIC, or Application-Specific Integrated Circuit, market.

The analysts noted how growth continues to be led by AI compute/networking franchises for Broadcom, and that the company is the top maker of custom AI ASICs with seven announced projects led by Google, Meta, and ByteDance USA.

“Reiterate Outperform with new $325 target (prior $305).”

The firm also said that it remains “long-term buyers,” for the stock and that its core businesses in networking, wireless, broadband, server and storage, and software all support “sustainable growth and cash return.”

Broadcom is a technology company uniquely positioned in the AI revolution owing to its custom chip offerings and networking assets.

1.    NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Holders: 235

NVIDIA Corporation (NASDAQ:NVDA) is one of the 10 Trending AI Stocks on Wall Street. On August 28, William Blair analyst Sebastien Naji reiterated an Outperform rating on the stock without a price target.

The rating affirmation follows Nvidia’s modest beat-and-raise quarter, excluding H20 contributions given the continued uncertainty regarding China export licenses.

Blackwell Ultra (B300) has brought in $10 billion in the quarter, while increased GB300 manufacturing capacity and sustained computing demand is anticipated to drive strong growth in the second half of fiscal 2026.

The firm said it would be buyers on weakness considering the stock dipped after hours.

“What You Need to Know: Nvidia reported a modest beat-and-raise quarter, notably excluding H20 contributions from its guidance given continued uncertainty around China export licenses. Blackwell continues to ramp up nicely, with the Blackwell Ultra (B300) accounting for more than $10 billion of revenue in the quarter (faster than expected and reemphasizing Nvidia’s commitment to annual product releases). A step-up in GB300 manufacturing capacity and sustained computing demand will be key to driving strong growth in the second half of fiscal 2026. We believe that Nvidia should retain its leadership in AI for several years to come (underpinned by rack-level hardware designs, an unparalleled supply chain, and the broadly used CUDA-based software stack), which will allow it to sustain strong revenue and earnings growth going into fiscal 2026 and beyond. With shares down modestly in after-hours trading, we would be buyers on weakness.”

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.

READ NEXT: 10 AI Stocks in the Spotlight Today and 10 AI Stocks Hit with New Analyst Ratings

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