Billionaire Paul Singer’s 10 Stock Picks with Huge Upside Potential

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1. Transocean (NYSE:RIG)

Elliott Management’s Stake: $44.51 million

Number of Hedge Fund Holders: 38

Average Upside Potential as of May 8: 73.91%

Transocean (NYSE:RIG) provides offshore contract drilling services for oil & gas wells in Switzerland and internationally. The company contracts mobile offshore drilling rigs, related equipment, and work crews to drill oil and gas wells. It also operates a fleet of mobile offshore drilling units, which consist of ultra-deepwater floaters and harsh environment floaters.

In Q1 2025, Transocean delivered $906 million in contract drilling revenue, which was generated at an average daily revenue of ~$444,000. The demand for Transocean’s contract drilling services, particularly in the deepwater market, is expected to grow further. Industry projections, like those from Mackenzie, anticipate a 40% increase in deepwater investment by 2030. This outlook is driven by the fact that over 90% of deepwater 2P (proven and probable) reserves are economic at above $50 per barrel.

In the US Gulf, Transocean (NYSE:RIG) anticipates up to 6 programs to commence in Q2 and Q3 of 2026, with durations ranging from 6 months to 4 years. For the full year 2025, Transocean (NYSE:RIG) anticipates contract drilling revenues to be between $3.85 and $3.95 billion due to higher activity on specific rigs and improved revenue efficiency.

While we acknowledge the growth potential of Transocean (NYSE:RIG), our conviction lies in the belief that AI stocks hold great promise for delivering high returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than RIG but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

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