The Best Artificial Intelligence (AI) Growth Stocks on the Nasdaq That Wall Street Loves Right Now
Wall Street analysts favor Applied Digital and Nvidia, two AI growth stocks listed on the Nasdaq, due to their strong potential for growth in the AI data center market. Applied Digital is expected to reach $1 billion in net operating income over the next five years, while Nvidia remains the dominant player in GPUs for AI data centers.
Investors have been piling back into AI stocks after a first-quarter correction in the Nasdaq Composite. Two AI stocks favored by Wall Street analysts are Applied Digital and Nvidia. Applied Digital owns and develops AI data centers, with its first facility already operational in North Dakota and four new ones in development. The company is targeting $1 billion in net operating income over the next five years. Nvidia is the dominant player in GPUs for AI data centers, with nearly 90% market share, and has seen accelerating revenue and earnings. All 13 analysts covering Applied Digital rate it a buy, with a median price target of $43 per share, suggesting 32% upside.
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