In this article, we will take a look at the 5 Cheapest AI Data Center Stocks to Buy Now. For a deeper discussion and an extended list, please see the 7 Cheapest AI Data Center Stocks to Buy Now.
A new data center facility in Plano, Texas. Photo from CoreWeave
5. NetApp, Inc. (NASDAQ:NTAP)
Forward P/E: 11.86
On March 24, 2026, NetApp, Inc. (NASDAQ:NTAP) announced a partnership with Elastio to integrate Elastio’s Provable Recovery Control into its Ransomware Resilience Service. The deal aims to improve cyber resilience by extending defense from production storage to recovery data and using deep file inspection on snapshots.
NetApp, Inc. (NASDAQ:NTAP) released third-quarter fiscal 2026 earnings of $1.71 billion in net revenue, up 4% year on year, with GAAP EPS of $1.67 and a record non-GAAP EPS of $2.12. The company reported that all-flash array revenue climbed 11% to a record $1.0 billion, while public cloud revenue increased 27% year on year to $174 million. It posted billings of $1.89 billion, a 10% rise, and GAAP operating income of $434 million, with non-GAAP operating income reaching $533 million. The firm’s CEO, George Kurian, said that the company’s fast growth was driven by all-flash arrays, cloud services, and AI demand, while also noting solid operational discipline and positioning the platform as an AI data backbone.
NetApp, Inc. (NASDAQ:NTAP) provides software, systems, and services for managing and sharing data on-premises. The company also provides private and public clouds worldwide. It operates in two segments: hybrid cloud and public cloud.
4. QUALCOMM Incorporated (NASDAQ:QCOM)
Forward P/E: 11.68
On March 6, 2026, QUALCOMM Incorporated (NASDAQ:QCOM) CEO Cristiano Amon spoke on the future of mobile in The Wall Street Journal’s Bold Names podcast. He said that artificial intelligence will transform computing from app-based interfaces to AI agents, replacing traditional software interactions between devices. He noted that AI agents will grasp user intent and carry out functions such as payments, reservations, and conversations without the need for applications. He also said that smartphones will remain key while new products such as smart glasses, earphones, and wearables broaden users’ interactions with AI. He pointed out that these devices will coexist with phones, executing tasks through agent-driven systems and changing user contact with digital services.
Amon stated that QUALCOMM Incorporated (NASDAQ:QCOM) provides chips used in smartphones and other devices, adding that “when you touch your smartphone, you have a piece of Qualcomm technology.” He said that the firm concentrates on processors that power mobile devices while seeking to expand beyond smartphones. He said mobile is the company’s major platform and key revenue generator.
QUALCOMM Incorporated (NASDAQ:QCOM) develops and commercializes core technologies and products for mobile devices and other wireless products. It operates in three segments: Qualcomm CDMA Technologies, Qualcomm Technology Licensing, and Qualcomm Strategic Initiatives.
3. Hewlett Packard Enterprise Company (NYSE:HPE)
Forward P/E: 9.34
On March 24, 2026, Hewlett Packard Enterprise Company (NYSE:HPE) launched new security offerings, including HPE Juniper Networking SRX400 Series Firewalls. The firm plans to expand its hybrid mesh firewall and technological advancements to promote AI adoption across remote environments. The corporation aims to simplify policy enforcement and strengthen protection across core, cloud, and edge systems as AI workloads expand.
Hewlett Packard Enterprise Company (NYSE:HPE) published fiscal first-quarter 2026 results, with sales of $9.3 billion, up 18% year on year, fueled by solid networking performance and Cloud and AI profitability. The firm reported GAAP gross margins of 35.9% and non-GAAP margins of 36.6%, both up from previous periods. The company announced GAAP EPS of $0.31, which exceeded the forecast range, and non-GAAP EPS of $0.65, which was also above guidance. The company earned $1.2 billion in operating cash flow and $0.7 billion in free cash flow, with $348 million returned to shareholders through dividends and share repurchases.
Hewlett Packard Enterprise Company (NYSE:HPE) is a global edge-to-cloud firm. It provides information technology, technology, and enterprise products, solutions, and services.
2. Super Micro Computer, Inc. (NASDAQ:SMCI)
Forward P/E: 8.08
On March 24, 2026, the Wall Street Journal reported that Super Micro Computer, Inc. (NASDAQ:SMCI) is facing uncertainty when authorities arrested board member and co-founder Yih-Shyan “Wally” Liaw on charges of assisting in the smuggling of Nvidia chips into China, causing a sharp market reaction. The corporation’s shares plunged by roughly one-third on Friday following the announcement, even though it was not named a defendant in the case. An employee and a contractor have also been indicted in connection with the scheme.
The firm’s outlook rests on maintaining access to Nvidia GPU allocations, which drive demand for its AI server business. Bernstein Research analysts said losing that supply would substantially disrupt operations, stressing the company’s reliance on Nvidia chips. NVIDIA stated that full compliance with export rules is its top priority, but it did not confirm future supply decisions. Super Micro Computer, Inc. (NASDAQ:SMCI) shares rose on March 23, 2026, as broader markets recovered, although the stock is still down by 28.20% this year as of March 24, 2026, showing ongoing investor concerns about the situation.
Super Micro Computer, Inc. (NASDAQ:SMCI) operates as a seller and developer of server and storage solutions based on modular and open-standard architecture across Europe, the United States, Asia, and internationally. It provides liquid and air-cooled AI servers; SuperStorage systems; embedded (5G/IoT/Edge) systems; SuperBlade, MicroBlade, FlexTwin, GrandTwin, and BigTwin blade and multi-node systems; Hyper, CloudDC, and WIO and rackmount systems; and MicroCloud server systems.
1. Micron Technology, Inc. (NASDAQ:MU)
Forward P/E: 6.92
On March 18th, 2026, Bloomberg reported that a portfolio manager at Gabelli Funds said that Micron Technology, Inc. (NASDAQ:MU) has a solid structural position due to limited competition among DRAM makers and consistent pricing strength. He anticipated pricing will continue to rise through the June quarter as consumers choose supply over cost. He said that 2026 will see constricted capacity with no big expansion, which will sustain pricing, while greater capacity growth might begin in 2027. He stated that corporations continue to be sold out of supply, reinforcing favorable pricing trends.
Micron Technology, Inc. (NASDAQ:MU) announced that it will spend more than $25 billion this fiscal year, topping analyst projections of $22.4 billion, to expand production to fulfill high demand for memory chips used in artificial intelligence computing. The corporation anticipates increased sales, led by high-bandwidth memory demand, robust margins, and third-quarter performance that exceeds forecasts. Shares dipped roughly 2% in late trade as excessive expenditure dampened investor optimism despite strong results.
Micron Technology, Inc. (NASDAQ:MU) provides memory and storage solutions sold into client, cloud server, enterprise, graphics, networking, smartphone, mobile-device, automotive, industrial, and consumer markets, among others.
While we acknowledge the potential of MU 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 MU and that has 100x upside potential, check out our report about the cheapest AI stock.
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