In this article, we discuss the top 10 AI stocks for 2022. If you want to skip our detailed analysis of these stocks, go straight to Top 5 AI stocks of 2022.
Artificial intelligence is the backbone of countless innovations in today’s world such as self-driving cars, high-tech computing, enterprise solutions and robotics to name a few. AI is also set to play a major role in the blockchain technology that forms the basis of the cryptocurrency industry. In addition, AI has also played a major role in combating the spread of COVID-19 from contact tracing to deploying robots and drones to respond to urgent needs in hospitals as well as delivery of food, medicine and equipment.
According to a report published by the nonprofit public policy organization Brookings Institution in October, 44 countries have joined the AI bandwagon by crafting their national AI strategic plans, including India, China, Uganda, Latvia, and the United States. The new defense law, the National Defense Authorization Act for Fiscal Year 2021, has allocated $6.4 billion in government funds for artificial intelligence programs in 2021.
One of the largest artificial intelligence companies in the world is NVIDIA (NASDAQ:NVDA), Amazon.com, Inc. (NASDAQ:AMZN) and Meta Platforms, Inc. (NASDAQ:FB). Other companies are taking advantage of the AI market by selling AI-related devices and services. According to the latest market Transfer Published by Fortune Business Insights, the AI market is set to grow at a compound annual growth rate of 33.6% to reach $360.36 billion by 2028.
These companies operate in the artificial intelligence market. We have carefully selected AI stocks that, based on their solid foundations and growth drivers, could be a good investment option in 2022. These AI companies offer hardware, software, and services focused on AI.
Hedge fund sentiment around each stock was calculated using data from 867 hedge funds tracked by Insider Monkey.
Best AI stocks of 2022
10. C3.ai, Inc. (NYSE:To the)
Number of hedge fund holders: 24
C3.ai, Inc. (NYSE: AI) is a provider of artificial intelligence software. The California-based technology company provides artificial intelligence platforms and CRM solutions to businesses and governments internationally. C3.ai, Inc. (NYSE: AI) AI software as a service is used in a variety of industries, including defense, utilities, aviation, and oil and gas.
One of the recent contracts awarded to C3.ai, Inc. (NYSE: AI) is the Department of Defense’s new $500 million agreement to use the company’s products to model and simulate military operations for the next five years.
The company’s second-quarter fiscal year 2022 revenue was $58.3 million, up 41% year over year, and beat revenue estimates by $1.3 million. Furthermore, C3.ai, Inc. has expanded (NYSE: AI) grew from its industrial diversification and now serves 14 industries in the second quarter of 2022, compared to 7 industries a year ago, including health care, agriculture, life sciences, financial services and manufacturing.
At the end of the third quarter of 2021, 24 hedge funds in the Insider Monkey database held $199 million stakes in C3.ai, Inc. (NYSE:AI), compared to 29 funds in the prior quarter valued at $258 million. Needham analyst Jack Andrews maintained a buy rating on C3.ai, Inc. (NYSE: AI) with a price target of $103 on the stock on Dec. 10.
Among the hedge funds tracked by Insider Monkey, based in New York Tiger Global Management LLC She is a major shareholder of C3.ai, Inc. (NYSE: AI) with 1 million shares worth over $46 million.
One of the most popular AI picks for hedge funds and investors is C3.ai, Inc. (NYSE: AI) along with Microsoft Corporation (NASDAQ: MSFT), NVIDIA Corporation (NASDAQ: NVDA), and Amazon.com, Inc. (NASDAQ: AMZN) and Meta Platforms, Inc. (NASDAQ: FB).
9. SentinelOne, Inc. (New York Stock Exchange: S.)
Number of hedge fund holders: 35
SentinelOne, Inc. offers (NYSE: S) An enterprise AI cybersecurity platform for a variety of organizations in finance, healthcare, automotive, services, and transportation. Among the company’s largest clients is Electronic Arts Inc. (EA), Sysco Corporation (SYY), and Autodesk, Inc. (ADSK).
SentinelOne, Inc. (NYSE:S) increased its customer base 75% year-over-year to more than 6,000 as of the third quarter of fiscal year 2022. Furthermore, the California-based AI cybersecurity firm has offered its services in Europe and is doing Currently expanding its R&D center in the Czech Republic.
After the company reported a strong third earnings on December 9, Deutsche Bank analyst Patrick Colville maintained its buy rating at SentinelOne, Inc. (NYSE:S), adding that the quarter marks “attracting investment in the booming endpoint market.”
Among the hedge funds that Insider Monkey tracks is New York-based Third Point investment firm She is a major shareholder in SentinelOne, Inc. (NYSE:S) with 26.7 million shares, valued at more than $1.4 billion.
In its investor letter for the third quarter of 2021, Third Point Management mentioned SentinelOne, Inc. (NYSE:S) and discussed her position on the company. Here is what the fund said:
“Our top winners on a percentage basis in the third quarter were our biggest; (which includes) guard oneby 26%, as general market investors rewarded the two companies’ disruptive business models and high growth paths. We expect SentinelOne to grow rapidly and continue to gain market share over the next decade as flexible working patterns and adoption of the cloud and the Internet of Things create more security vulnerabilities. This market is still dominated by legacy vendors whose solutions dwindle when compared to the machine learning-based standalone security of SentinelOne, which is taking a share and helping the company increase annual recurring revenue by more than 100% year-over-year.”
8. Palantir Technologies Inc. (NYSE:PLTR)
Number of hedge fund holders: 35
Data analytics company Palantir Technologies Inc. (NYSE: PLTR) artificial intelligence/machine learning on its enterprise platform. The company’s primary business is to provide secure data analysis and management software to government and other businesses. On the other hand, Palantir Technologies Inc. (NYSE: PLTR) Foundations of artificial intelligence and machine learning in space exploration. Apollo Edge-AI technology incorporates PLTR’s Meta-Constellation software, which enables the production of expanded star constellations and the deployment of AI into space.
Palantir Technologies Inc. (NYSE: PLTR) also announced a partnership with Dewpoint Therapeutics, a Massachusetts-based biotechnology company, in December to use the Palantir Foundry platform for drug discovery.
In the third quarter of 2021, Palantir Technologies Inc. (NYSE: PLTR) revenue increased 36% year-over-year to $392 million. The Colorado-based software company also added 34 net new customers during the period.
More hedge funds are expressing an upward trend towards Palantir Technologies Inc. (NYSE: PLTR) in the third quarter of 2021. Recent data shows that 35 hedge funds in the Insider Monkey database were long-term for Palantir Technologies Inc. (NYSE: PLTR) at the end of the September quarter with stakes of $1.63 billion.
In addition to Microsoft Corporation (NASDAQ: MSFT), NVIDIA Corporation (NASDAQ: NVDA), Amazon.com, Inc. (NASDAQ: AMZN) and Meta Platforms, Inc. (NASDAQ: FB) and Palantir Technologies Inc. (NYSE: PLTR) is watching an AI stock analyst for 2022.
7. International Business Machines Corporation (NYSE:IBM)
Number of hedge fund holders: 41
According to analysts, another exciting AI stock for 2022 is software and cloud company International Business Machines Corporation (NYSE: IBM). Of the 867 elite funds tracked by Insider Monkey, 56 were International Business Machines Corporation (NYSE: IBM) long funds at the end of September. Arrowstreet Capital She is the main shareholder of the company.
The New York-based company provides software applications and data analytics platforms to businesses. International Business Machines Corporation (NYSE: IBM) announced the completion of its four-month project with HSBC Holdings plc (NYSE: HSBC) to test end-to-end transactions involving central bank digital currencies, electronic bonds and foreign exchange in mid-December. . .
Shares of International Business Machines Corporation (NYSE: IBM) rose 8% in November after splitting from managed infrastructure services company Kyndryl. Kyndryl’s separation from IBM, according to IBM CEO Arvind Krishna, is one of the company’s strategies to focus on hybrid cloud and artificial intelligence.
On December 7, Sami Badri, an analyst at Credit Suisse, assumed an Outperform rating at International Business Machines Corporation (NYSE: IBM) and maintained a share price target of $164.29.
6. DocuSign, Inc. (NASDAQ:DOCU)
Number of hedge fund holders: 51
One of the AI stock investors watching is e-signature service provider DocuSign, Inc. (NASDAQ: DOCU). The San Francisco-based app developer is the largest electronic signature company with over 1 billion users and over 1.1 million paying customers worldwide.
DocuSign, Inc. operates (NASDAQ: DOCU) is working on automating workflows across legal clauses and agreements using artificial intelligence. AI also offers contract lifecycle management powered by AI.
The company saw revenue increase 42% year-over-year to $545.5 million in the third quarter of fiscal 2022. At the end of the September quarter, 51 of the 867 hedge funds tracked by Insider Monkey had positions at DocuSign, Inc. (NASDAQ: DOCU) valued at $4.24 billion.
In an investor letter for the second quarter of 2021 from Carillon Tower Advisers, the fund mentioned DocuSign, Inc. (NASDAQ: DOCU) and discussed his position on the company. here What the fund said:
“DocuSign Provides electronic signature solutions. The company had an excellent quarter and investors have appreciated the strong growth along with the excellent margins achieved by the company. DocuSign has a long path of growth going forward and we believe it is still well positioned to continue to gain market share from traditional handcrafted and paper-based signature solutions. “
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disclosure. Nobody. Top 10 AI stocks of 2022 Originally posted on Insider Monkey.