Introduction

Are you interested in investing in AI without a hefty budget? Penny stocks offer a low-cost entry into the world of artificial intelligence. In this article, we’ll explore 10 AI penny stocks poised for potential growth. Whether you’re a seasoned investor or a beginner, these picks could be your ticket to tapping into the booming AI market without breaking the bank. Let’s dive in and discover the best AI penny stocks to buy today!

Top 10 AI Penny Stocks

1. Nerdy, Inc. (NYSE: NRDY)

Number of Hedge Fund Holders: 22

Leading the pack is Nerdy, Inc., an online learning platform connecting students with tutors using AI. Despite challenges, Nerdy reported impressive Q1 results, including a $0.5 million adjusted income and a 5% year-over-year (YoY) revenue growth, totaling $49.2 million.

2. GeneDx Holdings Corp. (NASDAQ: WGS)

Number of Hedge Fund Holders: 16

GeneDx Holdings specializes in medical diagnostics and genome testing, integrating AI and data analytics. Despite a Q1 GAAP EPS miss, the company achieved remarkable revenue of $43.14 million.

3. FiscalNote Holdings, Inc. (NYSE:NOTE)

Number of Hedge Fund Holders: 15

FiscalNote Holdings employs AI in its software systems, recently launching the FiscalNote Risk Connector to help companies mitigate supply chain risks.

4. Pagaya Technologies Ltd. (NASDAQ: PGY)

Number of Hedge Fund Holders: 13

Pagaya Technologies excels in AI-driven risk assessment. The company has witnessed a significant surge of almost 132% in stock value, with analysts commending its credit risk calculation technology.

5. SoundHound AI, Inc. (NASDAQ: SOUN)

Approximate YTD Gain: 50%

Specializing in speech recognition, SoundHound AI has experienced substantial gains in 2023, marking its inclusion in the Russell 2000 and Russell 3000 Indexes.

6. Perfect Corp. (NYSE: PERF)

Number of Hedge Fund Holders: 10

Perfect Corp. integrates AI and Augmented Reality (AR) in the online beauty and fashion sector. The company values at $12.7 million, reporting a notable 12% YoY revenue increase in Q2.

7. Himax Technologies, Inc. (NASDAQ: HIMX)

YTD Gain: Approximately 6%

Himax Technologies focuses on semiconductor development for AI-related products. Their biggest bet, the WE1 Plus AI accelerator-embedded ASIC platform, has attracted investments from 9 hedge funds.

8. Canaan Inc. (NASDAQ: CAN)

Number of Hedge Fund Holders: 8

Canaan Inc., a Chinese hardware company, integrates AI into blockchain and crypto mining servers. The company has gained significant investments from entities like Chiron Investment Management.

9. Rekor Systems Inc (NASDAQ:REKR)

Number of Hedge Fund Holders: 8

Rekor Systems, Inc. offers AI solutions for transportation management, public safety, and urban mobility. It has gained attention for its role in aiding law enforcement, attracting more investors.

10. iCAD, Inc. (NASDAQ: ICAD)

Number of Hedge Fund Holders: 7

iCAD, Inc. specializes in medical devices for early cancer detection. It integrates AI into solutions like the ProFound AI, for enhancing cancer detection systems.

Conclusion

Hope this list of the top 10 AI penny stocks offered you a glimpse into the exciting possibilities of AI-driven innovation in the investment landscape. Investing in AI penny stocks offers a promising entry point into the AI market’s potential growth. From groundbreaking technology to industry innovation, these stocks showcase exciting opportunities for investors.

However, remember that penny stocks can be volatile. It’s crucial to research thoroughly, align with your investment goals, and diversify wisely. In seizing the opportunity with caution, AI penny stock investments could pave the way for a lucrative financial journey ahead.