In this article, we will discuss Billionaire Ken Fisher’s Latest Portfolio: 10 Best AI Stocks to Buy.
Despite the panic around an AI bubble, many investors are taking a long-term view and dismissing market skepticism. Billionaire Ken Fisher said in February that when everyone is talking about a bubble and expressing fear, it is often not actually a bubble. On his YouTube channel, Fisher explained that his more than 50 years of experience have taught him that a bubble occurs when money flows into areas where it won’t come back. In contrast, he said, AI is real, and most companies investing in it are already generating revenue and cash flow from their AI initiatives.
“When people talk about a bubble in advance, before the bubble bursts, it’s almost never a bubble,” Fisher said. “Bubbles require huge investments in things that can’t pay off, while everybody believes that they will. AI is real. Most, not all, of the money that’s going into AI development is going into it by companies that are making money and paying for it out of their cash flow. The reality is—well, there’s a little bit of leverage here and a little bit of leverage there, That’s true throughout the commercial world. It’s not different with AI. “
Fisher called market skepticism and fears around the potential AI bubble “nonsensical fearful talk” and said this could actually point to a positive signal for stocks in the long term.
For this article, we scanned billionaire Ken Fisher’s fund portfolio as of the fourth quarter and picked his top 10 AI-related stock holdings in terms of stake value. 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 498.7% since May 2014, beating its benchmark by 303 percentage points (see more details here).
10. Oracle (NYSE:ORCL)
Billionaire Ken Fisher’s Stake: $1.81 billion
Oracle (NYSE:ORCL) shares are down about 25% so far this year, but some analysts believe the stock can rebound and reward patient investors. The company has a record $553 billion backlog in Remaining Performance Obligations, mostly from multi-year cloud infrastructure contracts (OCI), ERP, CRM, and Cerner healthcare software, giving earnings visibility for the next 18 months.
Oracle (NYSE:ORCL) has successfully transitioned from legacy software to a modern AI cloud leader, with OCI growing 44–84%, high client retention of 96%, and multi-cloud partnerships with Microsoft Azure and AWS helping capture enterprise customers.
Oracle’s (NYSE:ORCL) cloud services revenue now accounts for over half of total sales, and operational efficiency is high, generating $445,000 per employee, 15% above the industry average. Pricing power remains strong, with service fee hikes offsetting AI hardware costs, keeping non-GAAP operating margins at 43%.
Ariel Focus Fund stated the following regarding Oracle Corporation (NYSE:ORCL) in its Q4 2025 investor letter:
Finally, global leader in enterprise software, Oracle Corporation (NYSE:ORCL) underperformed on mixed quarterly results, missing on revenue but beating earnings expectations due to gains from its divestiture of Ampere. While near-term upside was limited, cloud momentum remains strong with Oracle Cloud Infrastructure (OCI) continuing to grow rapidly and showing early signs of acceleration in its database and application businesses. Management reaffirmed its long-term growth outlook and increased investment in AI infrastructure, positioning Oracle as a key player in the ongoing AI platform shift. Despite margin pressure and uncertainty around financing for its large-scale AI commitments, we believe Oracle’s expanding backlog, multi-cloud deployments, and full-stack capabilities underscore its competitive advantage. While shares may remain range-bound in the near term, we believe current infrastructure investments will pave the way for meaningful earnings growth over time.
9. Meta Platforms (NASDAQ:META)
Billionaire Ken Fisher’s Stake: $4.36 billion
Wall Street has been spooked by Meta Platforms’ (NASDAQ:META) massive AI spending, but many overlook the results it is generating. The company’s AI-driven Advantage+ suite is now handling over $60 billion in annualized ad spend.
For the first quarter of 2026, Meta expects $53.5 billion to $56.5 billion in revenue, ahead of analyst estimates of $51.41 billion. Meta Platforms (NASDAQ:META) is also planning to reduce its reliance on Nvidia chips by accelerating the deployment of its own custom silicon, the Meta Training and Inference Accelerator (MTIA), to lower long-term compute costs. Meta Platforms (NASDAQ:META) is down 11% so far this year, and its forward P/E is now 20x, down from its historical average of 25.5x and lower than major Magnificent Seven peers and the broader industry average for high-growth tech.
Harding Loevner Global Equity Strategy stated the following regarding Meta Platforms, Inc. (NASDAQ:META) in its fourth quarter 2025 investor letter:
“Meta Platforms, Inc.’s (NASDAQ:META) business remained sturdy, markets began questioning whether AI-enabled gains in user engagement and ad targeting are nearing their limits. Investors also grew concerned that margins would decrease next year because of increased spending on AI infrastructure and workers.”
