In this article, we explore the 12 Cheap AI Stocks to Buy Right Now.
Artificial intelligence has triggered massive rallies for the perceived winners of the nascent technology. The catalyst behind the two-year bullish run has been game-changing technology that promises to fuel the next industrial revolution.
Likewise, the Chief Investment Officer at Allianz Global Investors has warned that the technology promises to usher in a period of “digital Darwinism” for companies that fail to adapt to the technology.
“AI is both a threat and a huge opportunity,” Virginie Maisonneuve said at the Bloomberg Investment Management summit. “It’s very hard to make a forecast, but 15% to 20% of companies listed today could not be here in five years.”
Not wanting to be left behind, technology companies are inking various deals to secure financing for their ambitious artificial intelligence initiatives. The companies have already raised $157 billion year to date, up 70% compared to the same period last year.
“It is the latest sign that the AI investment boom, long the focus of equity markets, is now spilling into credit,” Jonathan Owen, a member of the investment-grade portfolio management team at TwentyFour Asset Management, wrote to investors.
The push for financing deals is the catalyst behind renewed investment opportunities in AI investment plays. Similarly, focus has been on tech behemoths spending billions of dollars to develop and secure AI innovations. For some, the heightened focus on big players around AI is arousing alarm bells similar to those of the dot-com investing bubble that popped in early 2000.
Consequently, some investors are turning their attention to artificial intelligence plays trading at highly discounted valuations. With that in mind, let’s look at the cheap AI stocks to buy right now that are trading at less than 20 times their forward earnings.
Our Methodology
To identify the Cheap AI Stocks to Buy Right Now, we used Finviz screener to scan for technology stocks with significant exposure to artificial intelligence technology. We then settled on stocks with a forward price-to-earnings (P/E) multiple of less than 20. We also trimmed the list to concentrate on stocks with upside potential of more than 20% (as of September 28) and that are popular among elite hedge funds in Q2 2025. Finally, we ranked the stocks in ascending order based on their upside potential.
Why are we interested in the stocks that hedge funds pile into? The reason is straightforward: our research has demonstrated that we can outperform the market by replicating 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).
Cheap AI Stocks to Buy Right Now
12. Accenture plc (NYSE:ACN)
Price to Earnings Ratio: 17.18
Stock Upside Potential: 21.84%
Number of Hedge Fund Holders: 65
Accenture Plc. (NYSE:ACN) is one of the cheap AI stocks to buy right now. On September 24, analysts at UBS reiterated a “Buy” rating on the stock but reduced their price target to $315 from $363. The price cut comes as the company’s 2026 outlook came in lighter than what analysts expected.
For the fourth quarter of fiscal 2025, the company delivered a 9% increase in earnings per share to $3.03, driven by 7% increase in revenue to $17.6 billion. During the quarter, the consulting firm faced lower US federal government spending and weakness in the consulting business. Bookings totaled $21.3 billion, including $1.8 billion in artificial intelligence-related bookings.
Accenture expects revenue growth of between $18.1 billion and $18.75 billion for the first quarter of 2026, compared to the $18.51 billion that analysts expect. The company expects revenue growth of between 2% and 5%, with full-year earnings per share ranging from $13.19 to $13.57, representing a 12% increase.
Accenture Plc. (NYSE:ACN) is a global professional services company that provides strategy, consulting, technology, and operations services to help businesses reinvent themselves using technology, data, and AI. It offers expertise in areas such as cloud computing, artificial intelligence, digital transformation, supply chain management, and cybersecurity, helping clients solve complex business and societal problems.
11. Adobe Inc. (NASDAQ:ADBE)
Price to Earnings Ratio: 15.43
Stock Upside Potential: 27.62%
Number of Hedge Fund Holders: 104
Adobe Inc. (NASDAQ:ADBE) is one of the cheap AI stocks to buy right now. On September 24, Morgan Stanley downgraded the stock to an Equal-weight from Overweight and also cut the price target to $450 from $520. Despite the price cut, the stock boasts significant upside potential.
According to the investment bank, Adobe faces uncertainty over its inability to prove that generative AI is a net growth driver for its core business. The remarks come amid decelerating Digital Media ARR, triggering concerns over the company’s ability to prove GenAI as a growth driver. Additionally, Direct GenAI monetization has lagged investor expectations.
Amid the downgrade, Morgan Stanley has reiterated its strong belief in the company’s core value proposition and the expanded value capture opportunity that Gen AI presents. The investment bank has highlighted Adobe’s ability to innovate and monetize GenAI functionality, driving annual recurring revenue growth in the digital media sector.
Adobe Inc. (NASDAQ:ADBE) is a technology company that offers a suite of generative AI tools, empowering teams to efficiently produce on-brand content, personalize assets for diverse audiences, and rapidly extract insights from data.
