Where to Find the Best AI Stocks?
Artificial intelligence (AI) is one of the most popular topics worldwide. It is expected to be one of the most important drivers of change and competitive advantage in a rapidly changing economy. It is no secret that people from around the globe are looking for cheap AI stocks. So, there are many questions about artificial intelligence stocks under $10.
What makes the AI industry so important to investors?
First of all, the industry has experienced strong growth, with global funding doubling to $66.8 billion by 2021.
We should also mention that 65 AI companies have reached a valuation of more than $1 billion in 2021. This represented a 442% increase over the previous year.
As we all know, companies and governments are adopting artificial intelligence solutions worldwide.
In 2022, the global market for artificial intelligence reached $454.1 billion. This isn’t the upper limit, as the industry has the chance to reach even better results in the foreseeable future.
In the short term, AI should deliver the most significant economic benefits through increased productivity. This means automating routine tasks, improving employee skills and allowing them to focus on more valuable work.
What Are The Top Artificial Intelligence Stocks Under $10?
Now, let’s return to the main topic. So, what are the best artificial intelligence stocks under $10?
FiscalNote
FiscalNote Holdings, Inc. is a leading information services company that uses enterprise SaaS technology based on artificial intelligence to provide global legislative, policy and market intelligence.
In the first quarter of 2024, the company improved its adjusted EBITDA from $8.2 million over the prior year, marking its third consecutive adjusted EBITDA profitability.
Next year, the company hopes to return to double-digit growth by reallocating resources to high-performing offerings.
During the quarter, the company also launched FiscalNote Global Intelligence Copilot.
To make a long story short, it is an AI-powered assistant. Its purpose is to help clients analyze global dynamics and mitigate risks associated with macroeconomic and regulatory challenges.
BigBear.ai
We must mention BigBear.ai Holdings, Inc. for the top artificial intelligence stocks under $10.
It specializes in AI-based decision analytics solutions. Their offering includes solutions for national security, digital identity, etc.
Even though the Maryland-based company reported mixed results for the first quarter of 2024, the company is optimistic about the future. What’s important, the company raised its full-year 2024 revenue guidance to between $195 million and $215 million.
We simply can’t ignore SoundHound AI, Rekor Systems, Inc. and Conduent Incorporated when it comes to the best AI stocks.
SoundHound AI
The AI firm is a leading global provider of conversational intelligence solutions. SoundHound AI specializes in voice information technology that enables businesses to offer unique conversational experiences to their customers.
The company’s revenue for the first quarter of 2024 was $11.6 million. It represented a 73% increase over the previous year. Net loss per share improved to $0.07, less than the $0.09 expected. This shows efficient operational management despite the higher net loss.
Rekor Systems
Rekor Systems Inc. is a leading company using artificial intelligence to transform roads into intelligent systems. The history of the company dates back to 2017.
The company reported strong financial results for the first quarter of 2024. For example, revenue grew 58% yearly to $9.8 million, compared to $6.2 million in Q1 2023.
Recurring income also increased 18% to $5.0 million, compared to $4.2 million in the same period last year.
Conduent
Conduent Inc. is a provider of digital business solutions that help organisations around the world operate efficiently. The company serves government, businesses and transportation agencies. Its history dates back to 2016. Conduent Incorporated is headquartered in Florham Park, New Jersey.
The company’s Q1 2024 financial results were released in May 2024. Revenue beat expectations at $921 million, making it one of the best AI stocks to invest in. Furthermore, Conduent Incorporated recently completed the sale of its roadside management and public safety businesses.
The company also expects to complete the sale of BenefitWallet in May. The purpose of simplifying this portfolio is to optimize future growth through efficient capital deployment.
As can be seen from the information mentioned earlier, investors have the chance to select stocks that suit their interests. In the ever-evolving AI world, there is something for everyone. From video to LLMs and medical research to other real-life solutions, the bustling AI sector is slowly but surely becoming the next humans’ greatest invention. So don’t wait up! Invest in the future with our list of the best artificial intelligence stocks under $10.
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