5 AI Stocks That Will Skyrocket

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1. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Holdings: 264

Cantor Fitzgerald discussed NVIDIA Corporation (NASDAQ:NVDA)’s shares on March 12th as it reiterated an Overweight rating and set a $300 share price target. The firm has been in the news for several reasons over the past couple of weeks. For instance, Bloomberg reported on March 6th that the US government was considering rules that would require NVIDIA Corporation (NASDAQ:NVDA) and other AI chip manufacturers to secure the government’s approval for chips exported to any country in the world.

A couple of days later, on March 9th, the firm announced that it had selected South Korean memory manufacturers Samsung and SK hynix to supply it with HBM4 memory chips for the Vera Rubin AI chip. The Vera Rubin is NVIDIA Corporation (NASDAQ:NVDA)’s latest AI chip, and HBM memory chips are a key bottleneck in its supply chain due to the limited number of firms with the technical capability to manufacture the chips.

NVIDIA Corporation (NASDAQ:NVDA) is the largest AI GPU manufacturer in the world. It also supplies consumer and data center chips.

While we acknowledge the potential of NVDA to grow, 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 NVDA and that has 100x upside potential, 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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