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EVgo (EVGO): 8 Best Fast Growing Penny Stocks to Buy Right Now

EVgo Inc. (NASDAQ:EVGO) is one of the best fast growing penny stocks to buy right now. On May 5, EVgo reported record Q1 2026 revenue of $110 million, a 45% increase year-over-year, driven by double-digit growth in charging network revenue. The company expanded its infrastructure to 5,280 operational stalls, adding over 200 DC fast charging stalls during the quarter and growing its customer base to 1.7 million accounts. Network throughput reached 91 gigawatt-hours, supported by the ongoing deployment of NACS connectors and partnerships across its public and fleet networks.

Financially, EVgo strengthened its position by amending its Department of Energy loan to $750 million in April to support continued network scaling and infrastructure advancement. While the company reported a net loss of $37 million for the quarter, it achieved an adjusted gross profit of ~$30 million. Management noted that capital expenditures, net of offsets, rose to $25 million as the company prioritizes the build-out of next-generation charging stations and high-demand sites.

Looking ahead, EVgo Inc. (NASDAQ:EVGO) affirmed its full-year 2026 revenue guidance of $410 million to $470 million and initiated Q2 revenue guidance of $75 million to $85 million. CEO Badar Khan highlighted the company’s leadership in the fast-charging market and its readiness to capitalize on evolving market dynamics.

EVgo Inc. (NASDAQ:EVGO) owns and operates direct current fast charging network for EVs. Its product offerings include original equipment manufacturer charging and related services, commercial charging, charging data integration, and microtargeted advertising.

While we acknowledge the risk and potential of EVGO as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than EVGO and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 33 Stocks That Should Double in 3 Years and Cathie Wood 2026 Portfolio: 10 Best Stocks to Buy. 

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The $250 Trillion AI Hype is Real. A few years from now, you’ll probably wish you’d bought this stock.

When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
  • And 55 Nvidias

And here’s the wild part — this $250 trillion wave isn’t tied to one company, but to an entire ecosystem of AI innovators set to reshape the global economy.

It’s a leap so massive, it could reshape how businesses, governments, and consumers operate worldwide.

Even if that $250 trillion figure sounds ambitious, major firms like PwC and McKinsey still see AI unlocking multi-trillion-dollar potential.

How could anything be worth that much?

The answer lies in a breakthrough so powerful it’s redefining how humanity works, learns, and creates.

And this breakthrough has already set off a frenzy among hedge funds and Wall Street’s top investors.

What most investors don’t realize is that one under-owned company holds the key to this $250 trillion revolution.

In fact, Verge argues this company’s supercheap AI technology should concern rivals.

Before I reveal the details, let’s talk about how some of the richest people on the planet are positioning themselves.

  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

When billionaires from Silicon Valley to Wall Street line up behind the same idea — you know it’s worth paying attention to.

Even as we admire what Tesla, Nvidia, Alphabet, and Microsoft have built, we believe an even greater opportunity lies elsewhere…

But the real story isn’t Nvidia — it’s a much smaller company quietly improving the critical technology that makes this entire revolution possible.

And judging by what I’m hearing from both Silicon Valley insiders and Wall Street veterans…

This prediction might not be bold at all:

A few years from now, you’ll wish you’d owned this stock.

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