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.

10. Amdocs Ltd (NASDAQ:DOX)

Price to Earnings Ratio: 10.79

Stock Upside Potential: 29.72%

Number of Hedge Fund Holders: 34

Amdocs Ltd (NASDAQ:DOX) is one of the cheap AI stocks to buy right now. On September 10, Optimum, a provider of fiber internet, mobile, and TV services, reached an agreement to continue using the company’s AI offerings.

Optimum is to leverage Amdocs amAlz Suite; a telco-grade AI platform to implement new solutions, including AI-powered Bill Presenter and Gen AI Care Agent. The integration will enable the company to modernize its billing infrastructure and resolve issues with its legacy system.

According to Anthony Goonetilleke, Group President of Technology and Head of Strategy at Amdocs, the deal underscores the growing demand for the company’s solutions amid an increasing need for smart, scalable operations.

“Our collaboration with Optimum underscores the growing need for smart, scalable operations that go beyond traditional IT services,” said Goonetilleke. “With our AI-powered solutions, we’re empowering Optimum to simplify complexity, accelerate innovation, and unlock long-term business value.”

Amdocs Ltd (NASDAQ:DOX) is a technology company that uses AI to help telecommunications companies transform customer experiences, automate operations, and optimize decision-making. It has partnered with NVIDIA to develop and deploy these AI solutions, using NVIDIA’s infrastructure and models to build advanced AI agents.

9. Rimini Street, Inc. (NASDAQ:RMNI)

Price to Earnings Ratio: 12.74

Stock Upside Potential: 30.75%

Number of Hedge Fund Holders: 17

Rimini Street, Inc. (NASDAQ:RMNI) is one of the cheap AI stocks to buy right now. On September 17, the company announced that the Korean Broadcasting System had tapped it to provide support for its SAP ECC 6.0.

The strategic partnership will allow KBS to maintain its current SAP system rather than upgrade to S/4HANA. It will also reduce its annual software maintenance fees by 50%. The broadcaster is to leverage Rimini Street’s 20 years of organizational data to develop AI projects to improve program time to market and increase operational efficiency.

“Our highly customized SAP ECC 6.0 system is our competitive differentiator, and it stores an incredible amount of data on our talent, financials and operational processes, all of which will serve as fuel for our AI initiatives,” said Goo Yub Nah, IT director at KBS. “We carefully evaluated our options and decided keeping our existing systems expertly supported by Rimini Street would be the smartest, fastest path to realizing our AI vision, and funding it too.”

Rimini Street, Inc. (NASDAQ:RMNI) is a technology company that uses AI-powered applications and services to enhance enterprise software support and automation for clients. Its AI applications identify issues, assign the best-fit engineers to cases, detect anomalies, and leverage historical data to accelerate issue resolution for clients.

8. Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

Price to Earnings Ratio: 12.12

Stock Upside Potential: 30.11%

Number of Hedge Fund Holders: 47

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) is one of the cheap AI stocks to buy right now. On September 19, Ambit Capital upgraded the stock to a “Buy” from a “Sell” and lowered the price target to $82 from $84.

The adjustment is in response to the company’s improving growth trajectory. According to the research firm, its performance is comparable to or better than that of its tier 1 peers. For starters, its attrition rates are almost similar to those of its peers, amid enhanced operational efficiencies. Additionally, Cognizant Technology Solutions has seen increased offshoring, reduced client churn, and enhanced capabilities in its software-as-a-service operations.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) helps businesses leverage AI and data to enhance decision-making, automate processes, and optimize their operations. It provides a comprehensive suite of services, including Generative AI, data management, and the deployment of AI-driven platforms, such as their proprietary Neuro AI Decisioning platform.

7. Concentrix Corporation (NASDAQ:CNXC)

Price to Earnings Ratio: 3.82

Stock Upside Potential: 38.48%

Number of Hedge Fund Holders: 24

Concentrix Corporation (NASDAQ:CNXC) is one of the cheap AI stocks to buy right now. On September 25, the company delivered solid third-quarter results that underlined its strong position as a trusted provider of AI-powered business transformation solutions.

Revenue in the quarter increased 4% year over year to $2.48 billion, driven by a strong demand environment for integrated solutions. Diluted earnings per share came in at $2.78, slightly below $2.87 delivered the same quarter last year.

“Our strategy is aligned with client needs as we help them drive positive business outcomes. By leaning into growth and doing what is right for our clients, we are gaining share and expanding our offerings to drive long-term value for clients and shareholders alike,” said Chris Caldwell, President and CEO of Concentrix

For the fourth quarter, Concentrix expects revenue to average between $2.525 billion and $2.550 billion. It also expects earnings per share of between $2.85 and $2.96. The company also plans to reward passive investors with a quarterly dividend of $0.36, payable on November 4.

Concentrix Corporation (NASDAQ:CNXC) is a technology company that utilizes AI to enhance customer and employee experiences. It provides AI-driven tools and frameworks, such as the Agentic Operating Framework and iX Hero, to help businesses transform processes, improve operational efficiency, and unlock new revenue streams.

6. Perion Network Ltd. (NASDAQ:PERI)

Price to Earnings Ratio: 7.20

Stock Upside Potential: 31.72%

Number of Hedge Fund Holders: 17

Perion Network Ltd. (NASDAQ:PERI) is one of the cheap AI stocks to buy right now. On September 25, the company signed a strategic partnership with Albertsons Media Collective to provide advertisers with purchase-based audience data.

Advertisers will access audiences through Perion’s display and digital out-of-home advertising formats. The collaboration opens the door for marketers to reach over 100 million verified shoppers across Albertsons’ network of store locations, providing access to first-party data.

“This partnership showcases the power of Perion’s differentiated ad tech to connect premium media, retail intelligence and AI-driven measurement,” said Tal Jacobson, Perion’s CEO. “We’re unlocking new revenue streams by unifying retail data and high-impact media.”

The deal includes incremental sales measurement for digital out-of-home campaigns and closed-loop measuring capabilities for display advertising. The service offering for advertisers will include AI-driven optimizations.

Perion Network Ltd (NASDAQ:PERI) utilizes AI to power its digital advertising and marketing solutions, enhancing personalization, targeting, and campaign optimization across various channels, including web, social, audio, and CTV. Their AI-driven platforms analyze vast datasets to identify optimal moments for delivering personalized ads, improve engagement, and provide efficiency gains for brands and agencies.

5. Kyndryl Holdings, Inc. (NYSE:KD)

Price to Earnings Ratio: 13.33

Stock Upside Potential: 33.90%

Number of Hedge Fund Holders: 36

Kyndryl Holdings, Inc. (NYSE:KD) is one of the cheap AI stocks to buy right now. On September 3, at Citi’s 2025 Global Technology, Media, and Telecommunications Conference, the company affirmed its strategic transformation following its spinoff.

Following the spinoff, the company remains focused on investing in new capabilities while also pursuing partnerships to accelerate growth. Part of the strategy also entails focusing on advanced delivery and targeting Focus Accounts that have contributed $925 million in annualized benefits, with a goal of $1 billion per year.

Kyndryl has already established partnerships with major hyperscalers, including Microsoft and Google, as it seeks to capitalize on the AI boom. The company sees artificial intelligence as a significant growth Driver that should enhance efficiency and result in positive customer experiences. The efforts are expected to enable the company to triple its cash flow, double its profit, and achieve mid-single-digit revenue growth.

Kyndryl Holdings Inc. (NYSE:KD) provides comprehensive AI services focused on strategy, implementation, and governance, helping businesses adopt generative AI by building AI-ready infrastructures, modernizing applications, and ensuring data quality and security.

4. Nice Ltd (NASDAQ:NICE)

Price to Earnings Ratio: 10.82

Stock Upside Potential: 37.22%

Number of Hedge Fund Holders: 23

Nice Ltd (NASDAQ:NICE) is one of the cheap AI stocks to buy right now. On September 23, the company entered into a brand ambassador partnership with JJ Spaun, a professional golfer and 2025 US Open Champion. Under the terms of the agreement, Spaun is to showcase the company’s logo on his shirt in competitions.

The partnership underscores the creativity, consistency, and ground-breaking performance that characterize both Spaun’s rapid ascent in the professional golf industry and Nice’s heightened focus on AI-first client experiences.

“At NiCE, we’ve had our own breakthrough year, fueled by consistency and the drive to innovate with AI. Partnering with JJ isn’t just about sports, it’s about celebrating what it means to perform when it matters most and to keep pushing the boundaries of what’s possible. We look forward to cheering JJ on at the Ryder Cup!” said Scott Russell, CEO, and NiCE.

The collaboration emerges as NiCE increasingly redefines the customer experience by leveraging AI capabilities and acquiring Cognigy, a leading conversational AI company. By teaming up with Spaun, the company has reaffirmed its commitment to creating a world where customers, employees, and communities thrive.

Nice Ltd (NASDAQ:NICE) is a technology company that leverages AI to deliver AI-powered customer experience (CX) and workforce engagement management solutions for contact centers and other customer service operations. Its AI-driven platforms automate customer interactions, provide proactive outreach, enhance agent productivity through real-time guidance and summaries, and manage compliance and workforce optimization.

3. Five9, Inc. (NASDAQ:FIVN)

Price to Earnings Ratio: 7.92

Stock Upside Potential: 42.99%

Number of Hedge Fund Holders: 40

Five9 Inc. (NASDAQ:FIVN) is one of the cheap AI stocks to buy right now. On September 16, the company launched Five9 Fusion for ServiceNow. The AI-powered solution is designed to provide a unified customer service experience.

Five9 Fusion unifies voice and digital interactions through a time AI transcription stream. It also features a single routing engine, empowering businesses to deliver faster and more personalized customer service experiences at scale. The solution combines Five9 real-time system actions with ServiceNow Customer Service Management (CSM) to provide businesses with a single, AI-powered platform.

In addition to reducing expenses and offering end-to-end visibility across the customer journey, the integration gives agents instant context and tools. Therefore, it’s able to address issues more quickly and provide more proactive and tailored experiences at scale by combining voice and digital into a single intelligent workflow.

“Five9 Fusion for ServiceNow delivers a foundation for service excellence – eliminating the friction of multiple systems and empowering agents with a single interface to work confidently and efficiently and deliver faster, more personalized interactions at scale. With this new integration, every touch point becomes more intuitive and impactful for customers and agents alike,” said Kim Hill, SVP Partner Sales, Five9

Five9 Inc. (NASDAQ:FIVN) integrates Artificial Intelligence (AI), particularly Generative AI, into its cloud contact center platform to enhance customer experience (CX) through AI-powered agents. Its Genius AI Suite helps businesses deliver more human-like, efficient, and personalized customer interactions.

2. Gorilla Technology Group Inc. (NASDAQ:GRRR)

Price to Earnings Ratio: 10.87

Stock Upside Potential: 57.44%

Number of Hedge Fund Holders: 9

Gorilla Technology Group Inc. (NASDAQ:GRRR) is one of the cheap AI stocks to buy right now. On September 17, the company signed a $1.4 billion Contract with Freyr Singapore. The three-year contract is for the construction of a network of AI-powered data centers across Southeast Asia.

Construction is set to begin with an initial $300 million phase, which is scheduled to launch in the fourth quarter. The construction will position Gorilla as a leading provider of AI infrastructure, service-level operations, and data center intelligence across key regional markets.

Gorilla will utilize local co-location facilities to deploy its proprietary AI stack, including GPU-as-a-Service infrastructure. The two companies aim to target new data center opportunities, as the Southeast Asian data center market is projected to exceed $12 billion to $15 billion.

“We have been building in AI for more than 17 years, and we understand this region better than most. To have secured a customer of this calibre, a multi-billion-dollar telco with unmatched scale and reputation, is a powerful validation of Gorilla’s capability. Being trusted by such an institution from the outset speaks volumes about the strength of our platform and execution model,” said Jay Chandan, Chairman & CEO, Gorilla Technology Group.

Gorilla Technology Group Inc. (NASDAQ:GRRR) provides AI-powered technology and solutions for security intelligence, network intelligence, and IoT (Internet of Things) applications, with a focus on big data and cybersecurity. Its products and services are used in smart cities, government, and various industries, including manufacturing, transportation, and healthcare, to enhance safety and efficiency.

1. Alight, Inc. (NYSE:ALIT)

Price to Earnings Ratio: 4.99

Stock Upside Potential: 84.62%

Number of Hedge Fund Holders: 30

Alight Inc. (NYSE:ALIT) is one of the cheap AI stocks to buy right now. On September 17, the company unveiled Sword Health, a musculoskeletal and mental health AI care platform for its Alight Partner Network. The platform is designed to deliver always-on, clinical-grade care across various health conditions.

The platform will offer chronic pain care by ensuring targeted interventions for employees dealing with persistent MSK conditions. Move is a segment that provides pain prevention and injury avoidance help for high-risk employees to develop movement habits, while Bloom will provide pelvic health care for women at every life stage.

“The addition of Sword to the Alight Worklife platform gives employees the tools to address their personalized MSK and mental health needs while simultaneously helping employers drive both savings and improved outcomes for their employee populations,” said Missy Van Brocklin, Vice President of Partners at Alight.

Sword will ensure members work exclusively with therapy doctors throughout the entire journey. It has already delivered over $1 billion in savings through lower healthcare costs.

Alight Inc. (NYSE:ALIT) is a technology company that uses AI, powered by its Alight LumenAI engine, to personalize and automate employee experiences within its Alight Worklife platform. It also helps organizations improve human capital management by optimizing health, wealth, and career decisions for employees.

While we acknowledge the potential of Alight Inc. (NYSE:ALIT) 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 ALIT and that has 100x upside potential, check out our report about this cheapest AI stock.

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