In this article, we will list the 5 Most Promising Growth Stocks to Buy Now. Please visit 12 Most Promising Growth Stocks to Buy Now if you would like to see the extended list and the methodology behind it.
5. DoorDash, Inc. (NASDAQ:DASH)
Stock Upside Potential: 58.19%
Expected 5-Year Earnings Growth: 48.96%
Number of Hedge Fund Holders: 117
DoorDash (NYSE:DASH) is one of the most promising growth stocks to buy now. On June 8, Bank of America analysts reiterated that DoorDash (NASDAQ:DASH) is one of the growth stocks well-positioned to outperform once the current artificial intelligence phase turns.
According to the investment bank, the stock’s performance reflects the early stage of the AI cycle. That’s because investor conversations have mostly focused on semiconductor and hardware sectors at the expense of internet stocks. The investment bank expects the current AI phase to last until hardware and semiconductor capacity meet demand. Thereafter, services built on the infrastructure will take over and outperform.
On the other hand, DoorDash Ads has launched a new suite of tools spanning ad formats, offsite reach, and campaign automation. The new suite underscores the company’s push to help merchants drive sales and help brands reach new consumers. The suite will also offer advertisers a clearer view of what is working in their campaigns.
DoorDash, Inc. (NASDAQ:DASH) is a technology and logistics company that operates an on-demand food, grocery, and retail delivery platform. It connects consumers with local merchants through a mobile app or website, utilizing independent contractors (“Dashers”) to pick up and deliver the items.
4. Spotify Technology S.A. (NYSE:SPOT)
Stock Upside Potential: 22.47%
Expected 5-Year Earnings Growth: 22.98%
Number of Hedge Fund Holders: 123
Spotify Technology S.A. (NYSE:SPOT) is one of the most promising growth stocks to buy now. On June 3, Citizens reiterated that Spotify Technology SA (NYSE:SPOT) is in a phase of robust growth. The research firm raised its 2027 EBITDA estimates for the company by 5%, buoyed by new product launches that improve monetization.
In addition, it expects the company to benefit from lower operating expense growth as it laps a year of investment. Consequently, it has reiterated a Market Outperform rating on the stock with a $625 price target. The bullish stance underscores confidence about the company’s outlook given its structural advantages.
Spotify Technology operates as a multi-vertical platform spanning music, podcasts, and video podcasts. It also offers audiobooks, engaging more than 750 million monthly active users. The company also generates a proprietary dataset that it uses to deliver differentiated, personalized experiences.
On the other hand, Cantor Fitzgerald raised its price target of the stock to $520, impressed by the strength of the company’s artificial intelligence product roadmap. It has already inked a strategic collaboration with UMG for artist cover creations.
Spotify Technology S.A. (NYSE:SPOT) operates as a massive global audio-streaming platform. Spotify Strategy and Business Model – Umbrex. It provides users with instant access to millions of songs, podcasts, and audiobooks through both free, ad-supported tiers and paid subscriptions.
3. Broadcom Inc. (NASDAQ:AVGO)
Stock Upside Potential: 35.65%
Expected 5-Year Earnings Growth: 55.76%
Number of Hedge Fund Holders: 173
Broadcom Inc. (NASDAQ:AVGO) is one of the most promising growth stocks to buy now. On June 9, Broadcom Inc. (NASDAQ:AVGO) announced it is teaming up with Apollo Global Management and Blackstone’s credit and insurance business to launch an artificial intelligence infrastructure platform.
AI XPV Platform will enable more than 20 gigawatts of compute capacity by 2028. Backed by an initial $35 billion in financing, the platform is to employ Broadcom’s chips and networking solutions to support AI-focused companies.
The $35 billion tranche is to support anthropic capacity expansion of more than 1 gigawatt of compute infrastructure. The platform will also establish a framework for future deployments of XPU-based compute capacity and networking infrastructure. The ultimate goal is to lower the cost and power requirements of AI model training and inference.
Apollo and Blackstone’s participation in the project underscores the growing role of private equity in financing and enhancing the buildout of digital infrastructure.
Broadcom Inc. (NASDAQ:AVGO) is a global technology leader that designs, develops, and supplies a massive range of semiconductor and enterprise infrastructure software. Operating as a foundational pillar of modern computing, it is roughly split into two primary areas: hardware and software.
2. NVIDIA Corporation (NASDAQ:NVDA)
Stock Upside Potential: 53.44%
Expected 5-Year Earnings Growth: 45.51%
Number of Hedge Fund Holders: 275
NVIDIA Corporation (NASDAQ:NVDA) is one of the most promising growth stocks to buy now. On June 9, Nebius reiterated a strategic collaboration with NVIDIA Corporation (NASDAQ:NVDA) to create a cloud platform for robotics and physical artificial intelligence. Nebius launched the Physical AI Living Lab for UK and European robotics startups, built with NVIDIA technologies.
The two companies are joining forces to extend the Physical AI Living Lab to other regions. Part of the plan entails providing British and European robotics startups with Nvidia’s Physical AI development tools. The startups will also gain access to Nebius AI’s cloud infrastructure. The six-month program will address barriers that early-stage robotics firms face in the race to access large-scale simulation, synthetic data, and accelerated compute resources.
Additionally, participating startups are to leverage Nvidia technologies, including OSMO for workload orchestration and Cosmos World Foundation models. The Physical AI lab seeks to bridge the gap between UK robotics innovation and market-ready physical AI solutions by offering access to affordable cloud–scale training.
NVIDIA Corporation (NASDAQ:NVDA) is a technology company that designs and sells specialized computer chips, most notably Graphics Processing Units (GPUs). It has evolved from a gaming graphics card manufacturer into the leading full-stack infrastructure provider powering the global artificial intelligence (AI) revolution.
1. Amazon.com, Inc. (NASDAQ:AMZN)
Stock Upside Potential: 31.85%
Expected 5-Year Earnings Growth: 21.61%
Number of Hedge Fund Holders: 353
Amazon.com, Inc. (NASDAQ:AMZN) is one of the most promising growth stocks to buy now. On June 8, Amazon.com, Inc. (NASDAQ:AMZN) completed the sale of C$14 billion ($10 billion) in investment-grade bonds in Canada. It marked the largest corporate bond offering in Canadian dollars, attracting C$28 billion in orders from investors amid strong global demand for Canadian bonds.
The US ecommerce giant offered senior unsecured notes across five tranches, with maturities ranging from 3 to 30 years, as part of the bond offering. The yield on the longest tranche is 1.10% above that of government bonds. The five-part bond deal affirms Amazon’s strategy to diversify its funding sources.
The capital raise comes as Amazon looks to pursue opportunities in artificial intelligence. The company has already announced plans to spend about $200 billion on data centers, chips, and other infrastructure related to cloud computing and AI . It has borrowed more than $70 billion since the start of 2025 to finance the expansion drive into new areas of growth.
Amazon.com, Inc. (NASDAQ:AMZN) operates as a global technology and e-commerce company. Its core businesses include the world’s largest online retail marketplace, Amazon Web Services (AWS) for cloud computing, consumer electronics like Echo devices, digital entertainment (Prime Video, Audible), and a massive global logistics and delivery network.
While we acknowledge the potential of AMZN 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 AMZN and that has 100x upside potential, check out our report about the cheapest AI stock.
READ NEXT: Billionaire Lee Ainslie’s 10 Stocks with Huge Upside Potential and 10 Deep Value Stocks to Invest In Now.
Disclosure: None. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email below.
Hedge Fund Resource Center