10 Best AI Penny Stocks to Buy Now (2024)

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! Also, We will talk provide some information about the Artificial Intelligence Penny Stocks in India.

Top 10 AI Penny Stocks

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.

Subex Limited

Subex Ltd is currently trading at ₹27.95 on the National Stock Exchange (NSE) as of Thursday, 30 May 2024 14:03 IST. This is a decrease of -1.24% from the opening price of ₹28.30.The company’s market capitalization is ₹15490.6087 crore.

Happiest Minds Technologies ltd

Happiest Minds Technologies Ltd is an Indian information technology services company. Their stock symbol is HAPPSTMNDS and it trades on the National Stock Exchange of India (NSE).pen_spark

Here’s some additional information you might find helpful:

• Market Cap: ₹118,826.36 Crore
• 52 Week High: ₹1435.00
• 52 Week Low: ₹520.00pen_spark

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.

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.

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.

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.

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.

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.

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.

How can you invest in artificial intelligence penny stocks in India?

Investing in penny stocks, especially emerging fields like AI, carries significant risks. Here’s what to consider before you dive in:

Understanding Penny Stocks:

• Penny stocks are shares of small companies trading at a very low price (typically below ₹10).
• They are highly volatile and can be illiquid, meaning it may be difficult to sell them quickly.
• Penny stocks are more prone to manipulation and scams.

Investing in AI Penny Stocks:

• Do your research: Not all companies claiming to be involved in AI are legitimate. Read their financial statements, understand their business model, and the specific AI applications they’re developing.
• Look for established companies: Consider companies with a track record and a broader business portfolio that includes AI as a growing segment.
• Diversify: Don’t put all your eggs in one basket. Spread your investments across different AI-related stocks or sectors to mitigate risk.

Alternatives to Penny Stocks:

• Established AI Companies: Look into reputable companies like Tata Elxsi, Infosys, or TCS that are actively developing and implementing AI solutions.
• AI Mutual Funds or ETFs: These offer a way to invest in a basket of AI-related companies, reducing risk through diversification.

Resources for Researching AI Stocks:

• Stock market analysis websites like Moneycontrol or ICICI Direct can provide information on AI companies.
• Articles by reputable financial advisors discussing AI investment opportunities can be helpful.

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.

Frequently Asked Questions