12 AI Stocks Making Waves on Wall Street Today

10. Dell Technologies Inc. (NYSE:DELL)

Number of Hedge Fund Holders: 63

Dell Technologies Inc. (NYSE:DELL) provides IT solutions, including servers, storage, networking, and personal computing devices, to businesses and consumers worldwide. On May 20, Evercore ISI analyst Amit Daryanani reiterated an “Outperform” rating and decreased the price target to $120.00 from $145.00. Daryanani cited Dell’s strategic positioning in the growing AI market as a reason for the rating update. Owing to its expertise in next-generation AI architectures, the company is now focusing on cost-effective on-premises AI solutions. These solutions are becoming more cost-effective when compared to public cloud options.

Dell has also recently made a few announcements at their annual user conference, such as its new AI-powered servers and enhanced AI managed services. These innovations underscore its position as a comprehensive provider for enterprise AI infrastructure needs. The company’s newly introduced advanced PowerEdge servers and AI PCs using the latest NVIDIA and AMD technologies enhance its ability to seamlessly integrate into existing enterprise data centers. All in all, Daryanani believes that Dell stands to gain from the increasing momentum in enterprise AI.