12 AI Stocks Making Waves Today

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1.   Amazon.com, Inc. (NASDAQ:AMZN)

Number of Hedge Fund Holders: 339

Amazon.com Inc. (NASDAQ:AMZN) is an American technology company offering e-commerce, cloud computing, and other services, including digital streaming and artificial intelligence solutions. On April 24, Citi reiterated the stock as “Buy” and said it’s sticking with the stock ahead of earnings on May 1.

“While we recognize the visibility challenges from tariffs and macro, Amazon remains a core Internet holding and with shares trading at 25x our ’26E GAAP EPS and 10x our ’26E EV/EBITDA, we reiterate our Buy rating & $225 TP.”

With tariff risks amplifying concerns about economic growth, it is expected that big tech companies such as Amazon may cut back on spending on artificial intelligence infrastructure. This will further offer insights into the outlook for AI demand.

“A slowdown in cloud computing or capex would scream economic caution and speak to recession fears in corporate America. Any cutback in growth is hurtful to valuations, and would be damaging to the overall market. While multiples have come down a lot, we’re not drastically cheap by any historical measure. If we are on a recessionary path, multiples will get a lot lower.”

-Joe Tigay, portfolio manager of the Rational Equity Armor Fund.

While we acknowledge the potential of AMZN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than AMZN but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

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