5 Best AI Stocks Under $10 to Buy Now

4. Roadzen Inc (NASDAQ:RDZN)

Stock Price: $1.59

Number of Hedge Fund Holders: 10

Stock Upside Potential: 231.13%

Roadzen Inc (NASDAQ:RDZN) is one of the best AI stocks under $10 to buy now. The stock has gained around 50% over the past year, and analysts see a more than 230% upside potential in the stock from the current price. Some 10 hedge funds are backing Roadzen stock.

On June 16, Roadzen Inc (NASDAQ:RDZN) announced that it has secured another major contract with one of India’s top general insurers. It won this contract through its VehicleCare subsidiary, which provides an AI-powered claims and workshop management platform called AutoSpace.

This contract is expected to generate $10 million in annual revenue, and it adds to the $10 million contract that Roadzen announced previously. The company has won $30 million in new contracts since April this year.

Roadzen said its new insurance client in India operates a network of more than 850 branches across the country and sells over 8 million auto policies annually. This client processes more than $450 million in motor claims annually.

Roadzen’s AutoSpace platform has digitized repair processes across more than 1,200 repair shops in large cities and metro areas. The platform has processed over 150,000 claims and delivered more than 30% in cost reduction for clients. According to Roadzen CEO Rohan Malhotra, VehicleCare expansion is exceeding initial expectations.

California-based Roadzen Inc (NASDAQ:RDZN) describes itself as an applied AI research company focused on shaping the future of insurance and mobility. Roadzen builds AI-powered tools used to sell insurance, automate claims processing, and improve road safety.