Top 10 AI Stocks With Huge Upside Potential

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1. HIVE Digital Technologies Ltd. (NASDAQ:HIVE)

Stock Upside Potential as of July 22: 211.89%

Number of Hedge Fund Holders: 7

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) is one of the top AI stocks with huge upside potential. On July 21, H.C. Wainwright reiterated a ‘Buy’ rating on the stock and a $6 price target. The research firm remains optimistic about the company’s long-term prospects, buoyed by its rapid hash rate expansion and growth in the high-performance computing business.

The company has more than doubled its deployed hash rate in less than six months to 12.5 EH/s at its data center in Paraguay. Hive Digital management has already embarked on an ambitious plan to strengthen the hash rate to 18 EH/s by the end of August and 25 EH/s by November. The expansion positions it to ramp up bitcoin mining operations to capitalize on the soaring prices.

Hive Digital has also acquired a 7.2 MW data center in Toronto as it seeks to expand its high-performance computing capacity by 3.5 times. The expansion is expected to enhance the company’s annualized HPC revenues to approximately $100 million upon full deployment.

Initially focused on cryptocurrency mining, HIVE Digital Technologies Ltd. (NASDAQ:HIVE) is transitioning into the AI sector by leveraging its existing infrastructure of powerful servers. Its expertise in running high-performance computing infrastructure positions it to provide green infrastructure solutions for the AI revolution.

While we acknowledge the potential of HIVE Digital Technologies Ltd. (NASDAQ:HIVE) as an investment, 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 HIVE and that has 100x upside potential, check out our report about this cheapest AI stock.

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