In this article, we’ll look at the 11 best small-cap AI stocks to buy right now. To skip the detailed analysis of the AI sector, go directly to 5 small-cap AI stocks to buy right now.
AI: An important technology
Artificial intelligence has taken the world by storm. AI has become one of the most exciting things to come out of the technology field. As a result, some of the leading AI stocks, such as NVIDIA Corporation (NASDAQ:NVDA), Alphabet Inc. (NASDAQ:GOOG), and Microsoft Corporation (NASDAQ:MSFT), are among the most committed to contributing to the AI race. is. And perhaps even leading it, attracting even more investor attention. This is not surprising given the incredible growth of AI. On February 14, George Lee, co-director of the Goldman Sachs Applied Innovation Office, spoke about the potential for growth in artificial intelligence, particularly with respect to geopolitics, and how geopolitics could shape the AI-enabled future. We talked about sexuality. CNBC’s “Capital Connection.” Some of his comments are below.
“For me, my expertise is really at the intersection of generative AI and geopolitics. As Jensen Huang said, the global rise of this new capability is going to have significant economic, defense, and even is very important to the culture itself.” I said the other day. ”
When asked what kind of impact he expected machine intelligence to have on global growth, productivity, and the US-China conflict, Lee commented:
“Well, our economists are looking for a very large impact of around 1.5% increase in global GDP over 10 years as a result of this. [AI]. Now, I think the important thing to think about is that it’s a 10-year interval. Although this has emerged out of the blue and is very important and attractive, it will take time for its impact across economies around the world to deepen further. So we’re very focused on monitoring that, and my personal view is that there’s going to be significant productivity and economic benefits coming from this. There will also be incredible leaps in human creativity and productivity as we partner with machines to address and solve previously prohibitively difficult challenges. ”
According to Lee, humanity will likely evolve through machines and artificial intelligence, resulting in extraordinary growth in the future. He pointed out that:
“I think in some ways we are going to co-evolve with these machines. And while we are in the very early stages of this new generative AI revolution, the pace of improvement, the trajectory of improvement is very This is especially true in the past 20 years, and we are now thinking much more broadly about how we coexist with machines, how we cooperate with them, and how we work together to enhance our humanity. is needed.”
Global leader in AI
As the debate around AI rapidly gains speed and importance around the world, many are wondering which global players will take the lead, especially in this new world order that will be heavily influenced by technology and artificial intelligence. People are starting to have doubts. Mr. Lee also expressed his opinion on the issue of global leadership in the AI race. Here’s what he had to say:
“The United States and China have taken an early lead in this regard. Like other technology revolutions, such as the Internet, many of them came from the United States, both with academic and commercial roots. China has been somewhat of a challenge in this area. Some of the key technologies needed have been removed as they are subject to export controls, and the new quality of chatbots poses some threat to regimes sensitive to social harmony and stability. There is also the issue of there being a series of countries, such as the EU, the UK and France, that play a very important role, especially in terms of regulation, and countries that have special technological advantages, especially in terms of regulation. exists. This domain includes places like Taiwan, South Korea, the Netherlands, and most interestingly, countries like the UAE… An extraordinary effort in building the Falcon open source model and doing the work that they’ve done around them, just the Arabic foundational model and the general infrastructure investments that they’re making.”
Considering the highlights above, we’ve compiled a list of the best AI stocks to buy, especially the best small-cap AI stocks to buy now. These include the best cheap AI stocks to buy in 2024.
A scientist at a computer station surrounded by neural networks of artificial intelligence code.
our methodology
We used Insider Monkey’s fourth quarter hedge fund data to create a list of the best AI stocks to buy now, including those with a market cap of less than $2 billion as of March 11. I have shortlisted it. Stocks are ranked based on numbers. The percentage of hedge funds that own the stock, from lowest to highest, highlights its popularity among investors today. The top 10 consensus stocks selected by hedge funds have outperformed the S&P 500 index by more than 140 percentage points over the past 10 years (Please see here for the detail). That’s why we pay close attention to this often ignored metric.
The best small-cap AI stocks to buy now
11. Duos Technologies Group Inc. (NASDAQ:DUOT)
Number of hedge fund holders: 2 people
Market capitalization: $29.57 million
Duos Technologies Group Inc. (NASDAQ:DUOT) is a systems software company based in Jacksonville, Florida. The company designs, develops, deploys, and operates AI-powered intelligent technology solutions in North America.
2 hedge funds were long Duos Technologies Group (NASDAQ:DUOT) during the 4th quarter with a total value of $217,000.
Becker Drapkin Management, with an ownership of 62,536 shares, was the largest shareholder in Duos Technologies Group Inc. (NASDAQ:DUOT) at the end of the fourth quarter.
Along with NVIDIA Corporation (NASDAQ:NVDA), Alphabet Inc. (NASDAQ:GOOG), and Microsoft Corporation (NASDAQ:MSFT), Duos Technologies Group Inc. (NASDAQ:DUOT) has become one of the world’s best AI stocks. It’s coming. buy now.
10. DarioHealth Corp. (NASDAQ:DRIO)
Number of hedge fund holders: 4 people
Market cap: $48.7 million
4 hedge funds were long Dario Health Corporation (NASDAQ:DRIO) during the 4th quarter, with total value of the stock valued at $6.5 million.
DarioHealth Corp. (NASDAQ:DRIO) is a healthcare technology company based in New York. We provide AI-powered digital health solutions for chronic diseases. The company uses AI to monitor the health of people using digital platforms for health management purposes, making it one of the best AI stocks to buy.
Nantahala Capital Management was the largest shareholder in DarioHealth Corp. (NASDAQ:DRIO) at the end of the fourth quarter with 2.3 million shares of the company’s stock.
9. CXApp Inc. (NASDAQ:CXAI)
Number of hedge fund holders: 7 people
Market cap: $29.46 million
CXApp Inc. (NASDAQ:CXAI) is an application software company based in Palo Alto, California. We provide a workplace experience platform for enterprise customers, and this platform is focused on AI.
Seven hedge funds owned shares of CXApp Inc. (NASDAQ:CXAI) at the end of the fourth quarter, with a total value of $154,000.
8. Innodata Co., Ltd. (NASDAQ:INOD)
Number of hedge fund holders: 7 people
Market capitalization: $204.43 million
G2 Investment Partners Management is the largest shareholder in Innodata Inc. (NASDAQ:INOD) with 125,000 shares of the company’s stock.
Ridgefield Park, New Jersey-based Innodata Inc. (NASDAQ:INOD) is a research and consulting services company and one of the best AI stocks to invest in. We offer AI data preparation services, including collecting or creating training data and annotating training data. , alongside our AI model deployment and integration services, we also train AI algorithms for our customers.
Innodata Inc. (NASDAQ:INOD) was in 7 hedge funds’ portfolios during the 4th quarter with total value of $8.1 million.
7. BigBear.ai Inc. (NYSE:BBAI)
Number of hedge fund holders: 13 people
Market capitalization: $545.29 million
As of March 8, Cantor Fitzgerald analysts maintain an Overweight rating on Big Bear Eye, Inc. (NYSE:BBAI) with a price target of $3.5.
BigBear.ai Inc. (NYSE:BBAI) is an IT consulting company based in Columbia, Maryland. The company provides AI and machine learning for decision support. It also offers high-end technology and management consulting services, making it one of the best AI stocks to buy.
Our Q4 hedge fund data shows 13 hedge funds that are long BigBear.ai Inc. (NYSE:BBAI) with a total equity value of $1.1 million.
6. SoundHound AI Inc (NASDAQ:SOUN)
Number of hedge fund holders: 13 people
Market capitalization: $1.88 billion
SoundHound AI Inc (NASDAQ:SOUN) is an application software company based in Santa Clara, California. The company develops independent voice AI solutions that enable companies in the autonomous driving, television, Internet of Things, and customer service industries to deliver high-quality conversational experiences.
13 hedge funds were long SoundHound AI Inc (NASDAQ:SOUN) during the 4th quarter, with a total value of $12.2 million.
Analysts at HC Wainwright & Co. maintained a Buy rating on SoundHound AI Inc (NASDAQ:SOUN) stock on March 4th, with a price target of $7.
Along with NVIDIA Corporation (NASDAQ:NVDA), Alphabet Inc. (NASDAQ:GOOG), and Microsoft Corporation (NASDAQ:MSFT), SoundHound AI Inc (NASDAQ:SOUN) is one of the best AI stocks to buy today is.
Click to keep reading to see the top 5 small-cap AI stocks to buy right now.
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Disclosure: none. 11 small-cap AI stocks to buy now Originally published on Insider Monkey.
