7 Best Small Cap AI Stocks to Invest in According to Hedge Funds

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1. Evolv Technologies Holdings Inc. (NASDAQ:EVLV)

Market Capitalization as of September 18: $1.40 billion

Number of Hedge Fund Holders: 37

Evolv Technologies Holdings Inc. (NASDAQ:EVLV) is one of the best small cap AI stocks to invest in according to hedge funds. On September 16, Evolv Technologies announced that it has renewed and expanded its partnership with Gillette Stadium, home of the New England Patriots and New England Revolution. The renewal extends the original agreement that was initiated in 2021.

The expanded partnership includes an increase in the number of entry points at which the company’s AI-based Evolv Express security screening systems will be used. As a result, all members of the public entering Gillette Stadium for football games, soccer matches, concerts, and other events will pass through an Express system.

The Evolv Express system is designed to detect concealed weapons while distinguishing them from many common items, which allows visitors to move through checkpoints at their natural walking pace to minimize congestion.

Evolv Technologies Holdings Inc. (NASDAQ:EVLV) provides AI-based weapons detection for security screening in the US and internationally. Its flagship product is the Evolv Express, which is an AI-based concealed weapons detection system

While we acknowledge the potential of EVLV 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 EVLV and that has 100x upside potential, check out our report about the cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None.

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