In this article, we look at 14 AI Stocks Making Moves on Wall Street.
A top equity strategist at Goldman Sachs believes AI investment will remain the top driver of S&P 500’s earnings growth in the second quarter. The S&P 500 Q2 earnings are projected to grow 22%, largely led by AI infrastructure.
The overall earnings season may not be as strong as the first quarter, strategist Ben Snider believes, but an impressive profit growth tied to the AI theme is still on the horizon.
Nvidia and Micron alone are expected to account for roughly 40% of total earnings growth. Snider further anticipates the broader AI infrastructure complex to contribute nearly two- thirds of the S&P 500’s 22% earnings growth.
Only about top 10 contributing stocks are likely to account for almost 75% of the earnings growth, an implication of how profit growth remains limited to a small group of AI-related companies.
“We expect Q2 reports will reveal another quarter of strong earnings growth, supported by a solid macro backdrop and the ongoing AI investment boom,” Snider wrote in a note on Monday.
“AI infrastructure stocks are expected to contribute nearly 60% of S&P 500 EPS growth this quarter,” he added. “The top 10 contributing stocks are expected to account for nearly 75% of aggregate S&P 500 earnings growth.”
Against this backdrop, lets look at some of top AI stocks making moves on Wall Street.
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 Q1 2026.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Insider Monkey’s quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 599.2% since May 2014, beating its benchmark by 372 percentage points (see more details here).
14. Space Exploration Technologies Corp. (NASDAQ:SPCX)
Number of Hedge Fund Holders: –
On June 26, Argus initiated SpaceX as “Hold,” citing concerns over valuation and volatility.
We are initiating coverage of Space Exploration Technologies Corp. (Nasdaq: SPCX) with a HOLD rating.
The firm noted how SpaceX’s IPO valuation implies a high price-to-sales multiple of an estimated 95 times 2025 revenues. Even though the company is growing, it is not yet profitable. It believes that SPCX may take years before its multiple achieves normal levels.
While growing at the top-line level, the company is not yet consistently profitable, as its operating plan combines characteristics of both a mature infrastructure business and a venture-style growth investment. Thus, we think it will likely be years before SPCX’s multiples land at more normal levels.
The firm also said that the shares have been volatile and are likely to remain so for some time. This is due to a tight share supply and early inclusion in many major equity indices.
We may look to upgrade the stock if it falls sharply on nonfundamental factors or if revenues and earnings accelerate at a faster-than-expected pace.
Space Exploration Technologies Corp. primarily provides satellite-based broadband services. However, its businesses also span rocket launch services, satellite internet and connectivity, artificial intelligence (AI), and cloud computing.
13. Penguin Solutions, Inc. (NASDAQ: PENG)
Number of Hedge Fund Holders: 22
On June 25, Penguin Solutions announced an updated version of its ClusterWareAI operating system software, its specialized AI Factory Platform operating system and infrastructure management software. The three new updates include an AI-powered operations agent, automated GPU remediation for Kubernetes workloads, and expanded hardware health monitoring.
The new updates will allow AI operators to optimize AI factory performance, improve workload resilience, and simplify operations across the entire AI factory.
The new AI Factory Operations Agent offers a conversational interface that lets administrators ask about GPU-cluster performance using natural language. The agent helps to speed up root cause analysis, restructure troubleshooting, and cut reliance on specialized expertise for faster issue resolution and operational efficiency.
The updated software is now able to fix more issues in Kubernetes-based inference environments and expands hardware-level monitoring to ensure only peak performing GPUs are used for inference tasks. The release also accounts for detection of “fail-slow” conditions. This is where hardware components degrade without fully failing, enabling consistent GPU utilization.
At scale, AI infrastructure demands a new level of operational intelligence. This release advances our vision of intelligent, self-managing AI infrastructure through AI-driven operations, automated remediation, and deep infrastructure awareness.
-Ian Colle, SVP and Chief Product Officer at Penguin Solutions.
Penguin Solutions Inc. (NASDAQ:PENG) builds and sells enterprise solutions worldwide.
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