AI continues to transform industries globally, investors are eyeing AI stocks under $10 for promising opportunities. Stocks like FiscalNote Holdings, BigBear.ai Holdings, and SoundHound AI show potential for substantial growth.
Artificial intelligence (AI) continues to be a part of nearly every industry worldwide, savvy investors are seeking opportunities to get in quickly before this technology becomes too saturated. For investors eager to capitalise on the AI boom without needing a massive capital outlay, there are plenty of AI stocks under $10, but it’s essential to know which are poised to perform best. The rapid growth and significant potential of the AI sector present a compelling case for those looking to invest strategically in this transformative technology.
Here are the top three picks based on historical performance, analysts’ insights into future performance, and overall business performance. These selections provide a promising entry point into the AI market, allowing investors to benefit from the sector’s growth without substantial financial commitment.
AI Stocks Under $10: Affordable Investment Opportunities
FiscalNote Holdings, Inc. (NYSE: NOTE): FiscalNote, with a stock price of $2.06, utilises AI-driven enterprise SaaS technology to provide global legislative, political, and market intelligence. The company reported an $8.2 million improvement in adjusted EBITDA in Q1 2024, marking its third consecutive quarter of profitability. With its consistent performance and strategic use of AI, FiscalNote is well-positioned for future growth and stands out as a strong contender in the AI investment landscape.
BigBear.ai Holdings, Inc. (NYSE: BBAI): BigBear.ai is priced at $1.56 per share and specialises in decision intelligence solutions for national security, digital identity, supply chain management, and biometrics. The company reaffirmed its 2024 revenue guidance of $195 million to $215 million, highlighting its strong market presence and potential for revenue growth. BigBear.ai’s focus on critical sectors and its strategic application of AI technologies underline its investment potential.
SoundHound AI, Inc. (NASDAQ: SOUN): SoundHound AI, with a stock price of $5.60, is a global leader in conversational intelligence solutions. The company reported a 73% year-over-year revenue increase in Q1 2024. Analysts are optimistic, with an average price target of $7.43, indicating a potential upside of over 90%. SoundHound AI’s impressive revenue growth and market optimism reflect its strong positioning in the AI sector.
The future of AI investments
Artificial intelligence is expected to have a large impact on shaping economic changes and providing a competitive edge in the upcoming years. The AI sector has seen a lot of growth, with global funding doubling to $66.8 billion in 2021. As of 2022, the global AI market has reached $454.1 billion and is expected to grow significantly to about $2,575.2 billion by 2032, showing a yearly growth rate of 19%.
According to a report, AI has the potential to contribute approximately $15.7 trillion to the global economy by 2030. This significant growth will be driven by improved productivity and increased consumption, emphasising the immense economic impact of AI technologies. Businesses worldwide in nearly every sector have recognised the potential of AI technology and are investing heavily in it after realising its numerous benefits. Currently, it is still relatively affordable to invest in the AI sector, with some leading stocks being sold at a relatively low price. However, these figures won’t stay low for long, as stock prices are already rising quarter-over-quarter this year alone.
Investing in AI stocks priced under $10 presents a strategic opportunity for those looking to capitalise on the sector’s rapid growth. As the AI market continues to expand, these stocks offer the potential for significant returns, making them an attractive option for investors seeking to benefit from the transformative power of AI.
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