On November 13, Ray Wang, Constellation Research chairman and AI Forum co-founder, appeared on CNBC’s ‘Squawk Box’ to discuss the state of the tech sector, old tech vs. new tech, and AI sector growth outlook. Recently, AI-related stocks experienced a slight pullback, while some older tech names were performing better, signifying a divergence in the tech sector. Wang denies the existence of an AI bubble, yet he highlights the massive scale of the current tech market, citing $380 billion in data center spending and the top 10 tech stocks holding a combined valuation of $25 trillion against a $30 trillion US economy. This high concentration appeared to contradict his anti-bubble stance. Wang addressed this contradiction by making a distinction between the old tech and new tech sides of the market. He explained that the staggering numbers seen in the public markets relate to old tech, whereas the highly inflated valuations of new tech companies are contained within the private markets.
The fundamental difference, according to Wang, is that these AI-native companies operate with superior efficiency. He provided illustrative examples of this efficiency, such as a company of 20 people generating $200 million in ARR, or one with 10 million people generating the same $200 million in ARR, demonstrating the vastly higher revenue per employee and profit per employee achieved through digital labor. Wang asserted that the old guard of companies will ultimately be forced to adopt the new metrics, particularly relating to the percentage of digital labor and growth rates. He emphasized that the new companies are growing at rates of 10x or 100x, which is why their future valuations will look dramatically different. Wang concluded that the current numbers, though already staggering, are just the beginning.
That being said, we’re here with a list of the 9 best new tech stocks to buy right now.
Our Methodology
We first sifted through the Finviz stock screener to compile a list of new tech stocks that went public in the last 2 years. We then selected the 9 stocks that were the most popular among elite hedge funds and that analysts were bullish on. The stocks are ranked in ascending order of the number of hedge funds that have stakes in them, as of Q3 2025.
Note: All data was sourced on December 4.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 427.7% since May 2014, beating its benchmark by 264 percentage points (see more details here).
9 Best New Tech Stocks to Buy Right Now
9. MNTN Inc. (NYSE:MNTN)
Number of Hedge Fund Holders: 16
MNTN Inc. (NYSE:MNTN) is one of the best new tech stocks to buy right now. On December 4, Canaccord analyst Matthew Weber initiated coverage of MNTN with a Buy rating and $20 price target. Weber believes that the company is capitalizing on the long-term growth trend in connected TV/CTV and is successfully gaining market share for solving a critical market need.
Earlier in its Q3 2025 earnings report, MNTN recorded a revenue of $70 million, which was a 31% year-over-year increase after adjusting for the divestiture of Maximum Effort. The company achieved its first GAAP profitable quarter in 4 years, reporting net income of $6.4 million and GAAP EPS of $0.09 per share. This growth was driven by strong customer adoption of its Performance TV platform, with Active PTV Customers reaching 3,316, representing a 67% year-over-year growth.
For Q4 revenue guidance, the company expects a range of $85.5 to $86.5 million, which represents 34% year-over-year growth at the midpoint. For the full-year 2025, revenue guidance is projected to be between $288.5 and $289.5 million, reflecting 35.5% year-over-year growth at the midpoint.
MNTN Inc. (NYSE:MNTN) operates a technology platform that brings performance marketing to Connected TV/CTV.
8. OneStream Inc. (NASDAQ:OS)
Number of Hedge Fund Holders: 23
OneStream Inc. (NASDAQ:OS) is one of the best new tech stocks to buy right now. On December 3, Guggenheim analyst maintained a Buy rating on Onestream with a price target of $35.
Just a day prior, Rosenblatt initiated coverage of OneStream with a Buy rating and $26 price target. The firm noted that OneStream is successfully gaining market share from a large existing base of legacy systems. Rosenblatt believes that the company is positioned to deliver total revenue growth of close to 20% annually over the next several years.
Earlier in its Q3 2025 earnings report, OneStream disclosed achieving a 27% year-over-year increase in subscription revenue, which reached $141 million. International demand was particularly strong, driving international revenue growth of 37%. Furthermore, the company reported success in customer retention within the federal sector, successfully renewing all but one of its Q3 federal agency customers and securing one new federal customer.
A key highlight of the quarter was the success of OneStream’s Sensible AI forecasts, which have improved forecast accuracy for customers. The company noted that this AI capability has reduced forecast generation time by a remarkable 94%, leading to annual savings of over 13,000 labor hours.
OneStream Inc. (NASDAQ:OS) delivers a unified, AI-enabled, and extensible software platform in the US and internationally.
7. Pony AI Inc. (NASDAQ:PONY)
Number of Hedge Fund Holders: 27
Pony AI Inc. (NASDAQ:PONY) is one of the best new tech stocks to buy right now. On November 26, Goldman Sachs maintained a Buy rating on Pony AI with a price target of HK$122.07.
Earlier, on November 24, Pony AI announced an expanded partnership with Sunlight Mobility to implement an asset-light model. This agreement builds upon the initial collaboration established between the two companies in June 2024. It is a milestone in Pony AI’s strategy to build a scalable, capital-efficient, and rapidly deployable mobility ecosystem to speed up the company’s fleet expansion.
Sunlight Mobility, which is a leading mobility service platform operator covering over 180 cities across China, will now fund the Gen-7 Robotaxi vehicles. The initial fleet financed under this asset-light model is planned for deployment in Guangzhou before the end of 2025. Both parties have plans to further expand the deployment into other cities across China in the coming years.
The agreement also highlights the growing market recognition of Pony AI’s Robotaxi business model, as it indicates an increasing number of third parties are willing to fund fleet deployment and lease Pony AI’s Virtual Driver for commercial operations. The collaborative autonomous driving vehicle/ADV fleet supply will be integrated into both Pony AI and Sunlight Mobility’s platforms, ensuring that both parties share the economic benefits and create a mutually beneficial situation.
Pony AI Inc. (NASDAQ:PONY), through its subsidiaries, engages in the autonomous mobility business in the People’s Republic of China, the US, and internationally.
6. Bullish (NYSE:BLSH)
Number of Hedge Fund Holders: 32
Bullish (NYSE:BLSH) is one of the best new tech stocks to buy right now. On November 24, Canaccord lowered the firm’s price target on Bullish to $50 from $68 with a Buy rating on the shares. Canaccord noted that the company’s Q3 2025 achievements in business model and TAM expansion, alongside stellar margins. The firm informed investors that their forward estimates are likely too conservative, as they have not yet fully accounted for the anticipated transaction volume from the imminent launches of the US business and options trading.
In its Q3 2025 earnings report, the company achieved record performance with total adjusted revenue surging by 71.5% year-over-year to reach $76.5 million, surpassing expectations by $5.36 million. Adjusted EBITDA also showed significant improvement, rising to $28.6 million from $7.7 million in the prior-year quarter. This adjusted performance translated into an adjusted net income of $13.8 million, a turnaround from an adjusted net loss of $3.1 million in Q3 2024.
Despite the record adjusted metrics, GAAP EPS was $0.10 per diluted share, a substantial improvement from a loss of $0.59 per diluted share in Q3 2024, but reportedly fell short of analyst estimates by $1.49. The company’s overall digital asset sales for the quarter totaled $41.6 billion, down from $54.2 billion in the previous year’s quarter. Looking ahead, Bullish anticipates subscription and services revenue to range between $47.0 and $53.0 million for Q4.
Bullish (NYSE:BLSH) provides market infrastructure and information services in the US. It operates Bullish Exchange, a digital assets spot and derivatives exchange that integrates a central limit order book matching engine with automated market making to provide deep and predictable liquidity.
5. Chime Financial Inc. (NASDAQ:CHYM)
Number of Hedge Fund Holders: 39
Chime Financial Inc. (NASDAQ:CHYM) is one of the best new tech stocks to buy right now. On December 1, Goldman Sachs analyst Will Nance upgraded Chime to Buy from Neutral while increasing the price target to $27 from $26. The stock has recently lagged due to investor concerns about slower-than-anticipated volume growth and the company’s unproven profitability. However, Goldman Sachs believes the market is overlooking significant tailwinds from Chime’s new Chime Card, suggesting that increased take rates will substantially outperform consensus estimates.
In Q3 2025, Chime Financial recorded a 29% year-over-year revenue growth to make a total revenue of $543.52 million. This growth was achieved alongside an EPS of $0.08, which beat Street estimates by $0.33. Furthermore, Chime expanded its customer base, seeing a 21% year-over-year increase in active members that reached a total of 9.1 million.
The rollout of the new Chime Card, featuring 1.5% cash back and a titanium option, has been highly successful with new members. The company’s CEO, Chris Britt, noted that 80% of new members’ purchase volume is occurring on the credit side of the card. The company is now focused on rolling the card out to existing members, anticipating a positive contribution to revenue due to higher interchange rates (net of rewards expense).
Chime Financial Inc. (NASDAQ:CHYM) is a financial technology company that provides digital consumer banking and payment solutions.
4. Joint Stock Company Kaspi.kz (NASDAQ:KSPI)
Number of Hedge Fund Holders: 40
Joint Stock Company Kaspi.kz (NASDAQ:KSPI) is one of the best new tech stocks to buy right now. On December 4, JPMorgan analyst Reginald Smith lowered the firm’s price target on Kaspi.kz to $88 from $96 and kept a Neutral rating on the shares as the firm broadly updated its 2026 outlook on the financial technology group. JPMorgan forecasts a soft-landing grind for the sector in 2026, predicting slowing real growth due to a weakening labor market and the delayed impact of tariffs.
In Q3 2025, the company reported increasing total revenue by 20% year-over-year to KZT797 billion (excluding Turkey). Total Payment Volume/TPV grew by 18% and transaction volume increased by 14%. Management highlighted ongoing enhancements to the platform, including connecting more banks and introducing innovative features like “Pay by Palm,” which is expected to roll out by the end of the year.
The Fintech segment’s revenue, in particular, increased by 24%, which was supported by a 16% rise in TFE (Total Financial Engagement) and strong performance in merchant lending. The Fintech loan portfolio also expanded significantly, growing 30% year over year. A major growth driver across the platform was Advertising, with revenue soaring by 56%, fueled by new services allowing merchants to advertise on third-party platforms like Facebook and Instagram.
Joint Stock Company Kaspi.kz (NASDAQ:KSPI), together with its subsidiaries, provides payments, marketplace, and fintech solutions for consumers and merchants in Kazakhstan, Azerbaijan, and Ukraine. It operates in three segments: Payments, Marketplace, and Fintech.
3. Klarna Group (NYSE:KLAR)
Number of Hedge Fund Holders: 50
Klarna Group (NYSE:KLAR) is one of the best new tech stocks to buy right now. Earlier on November 20, UBS analyst Timothy Chiodo lowered the firm’s price target on Klarna to $46 from $48 and kept a Buy rating on the shares. This sentiment came out when Klarna showed strong Q3 2025 results, with both Gross Merchandise Volume/GMV and revenue growing by more than 20% year-over-year and exceeding expectations due to factors like the expansion of the merchant network, the forging of key retail partnerships, successful Payment Service Provider/PSPs integrations, and the rapid adoption of the Klarna Card.
In the quarter, Klarna achieved a record total revenue of $903 million, while GMV grew to $32.7 billion. US revenue particularly accelerated to 51% growth year-on-year, and US GMV grew 43%. For the upcoming Q4, Klarna is expecting to see above 30% revenue growth. A major contributor to the growth acceleration is the fair financing product, which grew over 139% in volume. This product’s success is directly linked to an expansion in its acceptance points.
Klarna is actively pursuing a transition from a payments provider to a full neobank, using its unique customer acquisition funnel. The company boasts 114 million active consumers and is available at 850,000 merchants. This quarter, the company also added Clover to its list of signed partners, which also includes Stripe and Apple Pay. This strategy paid off with a record addition of 235,000 merchants in Q3, marking a 38% growth compared to 13% a year ago
Klarna Group (NYSE:KLAR) operates as a technology-driven payments company in the UK, the US, Germany, Sweden, and internationally.
2. Rubrik Inc. (NYSE:RBRK)
Number of Hedge Fund Holders: 52
Rubrik Inc. (NYSE:RBRK) is one of the best new tech stocks to buy right now. On December 1, Rubrik announced Rubrik Agent Cloud for Amazon Bedrock AgentCore. The new integration allows Amazon Bedrock AgentCore customers to easily enable monitoring, governance, and remediation for AI agents deployed across multi-cloud resources and infrastructure.
The service is built upon the Rubrik Platform to provide customers with security, accuracy, and efficiency as they adopt autonomous AI. The primary function of Rubrik Agent Cloud is to transform the AI Chaos caused by autonomous agents into operational excellence. The company cited research showing that 72% of leaders have reported an increase in cyber risks, with 47% linked to the growing capabilities of GenAI-driven attacks, underscoring the urgent need for a control layer.
The solution is structured around three key capabilities: Agent Monitor, which automatically discovers agents, maps their blast radius, and maintains immutable audit trails; Agent Govern, which tracks agent usage and enforces real-time behavior, access, and action policies; and Agent Remediate. Agent Remediate uses Agent Rewind, which integrates with Rubrik Security Cloud to provide the industry’s only solution for precise, time- and blast-radius-based rollback of destructive or undesirable actions.
Rubrik Inc. (NYSE:RBRK) provides data security solutions to individuals and businesses worldwide. The company offers enterprise data protection, unstructured data protection, cloud data protection, SaaS data protection solutions, identity provider services protection, data threat analytics, data security posture, and cyber recovery solutions.
1. Astera Labs Inc. (NASDAQ:ALAB)
Number of Hedge Fund Holders: 57
Astera Labs Inc. (NASDAQ:ALAB) is one of the best new tech stocks to buy right now. On November 21, Raymond James analyst Simon Leopold resumed coverage of Astera Labs with a Market Perform rating but no price target. Leopold informed investors that although the company is set up to benefit from GenAI, the stock price reflects its current value, and Astera must contend with ongoing structural difficulties.
Earlier in the company’s Q3 2025 earnings report, Astera Labs announced that its quarterly revenue hit a new record of $230.6 million, which was a sequential increase of 20% and a year-over-year rise of 104% due to strong demand across the signal conditioning, smart cable module/SCM, and switch fabric portfolios, driven by new AI platform production ramps.
Looking forward to Q4, Astera Labs projects continued growth with expected revenue in the range of $245 to $253 million. Management anticipates continued momentum from PCIe 6 and robust growth from its Taurus Ethernet SCMs. The company also announced a definitive agreement to acquire aiXscale Photonics GmbH to accelerate the development of photonic scale-up solutions, which are critical for the massive bandwidth requirements of AI Infrastructure 2.0.
Astera Labs Inc. (NASDAQ:ALAB) designs, manufactures, and sells semiconductor-based connectivity solutions for cloud and AI infrastructure.
While we acknowledge the potential of ALAB 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 ALAB and that has 100x upside potential, check out our report about this cheapest AI stock.
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