Top 10 AI Stocks in the Spotlight

7. Snowflake Inc. (NYSE:SNOW)

Number of Hedge Fund Holders: 94

Snowflake Inc. (NYSE:SNOW) is one of the Top 10 AI Stocks in the Spotlight. On July 3, Monness analyst Brian White maintained a Buy rating on the stock and set a price target of $245.00. White’s rating reflects Snowflake’s impressive innovations and strategic advancements.

At a recent summit, the company introduced several new features, including the Snowflake Intelligence and Snowflake Openflow. Both of these features are anticipated to enhance Snowflake’s AI capabilities and data management offerings, and also strengthen its position in the competitive software landscape.

CEO Sridhar Ramaswamy has been particularly good for the company. This is particularly true considering Snowflake has accelerated its pace of innovation, especially in the realm of generative AI, under his leadership.

This focus on generative AI is likely to yield long-term benefits for Snowflake, particularly as the broader industry values data-driven, consumption-based models. All in all, the company’s approach to integrating AI with data strategy emphasizes its growth potential and justifies the Buy rating.

Snowflake Inc. (NYSE:SNOW) is an artificial intelligence data cloud company benefiting from the AI boom as data warehouses are a critical component in making AI useful for enterprises.