5 Stocks That Will Profit From AI Evolution

In this article, we discuss the 5 stocks that will profit from AI evolution. If you want to read our detailed analysis of these stocks, go directly to 11 Stocks That Will Profit From AI Evolution. 

5. QUALCOMM Incorporated (NASDAQ:QCOM)

Number of Hedge Fund Holders: 78 

QUALCOMM Incorporated (NASDAQ:QCOM) develops and sells foundational technologies for the wireless industry. Chip stocks are poised to benefit from the AI boom as AI products require high-end chips that only big companies like QUALCOMM Incorporated (NASDAQ:QCOM) are capable of manufacturing. These chips process data faster and are smaller in size. The prices of these products have increased considerably since the pandemic. 

On March 4, investment advisory Cantor Fitzgerald maintained a Neutral rating on QUALCOMM Incorporated (NASDAQ:QCOM) stock with a price target of $150. 

Among the hedge funds being tracked by Insider Monkey, Florida-based investment firm Citadel Investment Group is a leading shareholder in QUALCOMM Incorporated (NASDAQ:QCOM)  with 2.9 million shares worth more than $425 million.