Three AI Stocks to Buy for Explosive Growth

Investors have been pouring into rapidly developing AI tech names over the past few months, and this is likely just the beginning. According to Grand View Research, the global artificial intelligence market reached a valuation of $136.55 billion in 2022. It’s projected that by 2030 the industry will command a revenue of nearly $1.9 trillion.  

Anyone looking to profit from the paradigm shift may wonder which companies stand to gain the most as breakthrough advancements are made in the industry. Here we’ll look at three Buy-rated standouts from the burgeoning AI group with plenty of runway ahead, including one ticker the Wall Street pros see stacking on more than 100% over the next 12 months.  

With cyber threats materializing all the time, cybersecurity technology specialists, CrowdStrike (CRWD), is one of the most relevant AI stocks to buy. After losing nearly half of its value in 2022, CRWD is up 32% this year. Of 37 analysts offering a recommendation for the stock, 33 have an optimistic view, yielding a consensus Strong Buy assessment. In addition, their average price target stands at $165, implying an upside potential of over 22%. Therefore, CRWD is one of the top AI stocks to buy.

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Luminar (LAZR) is at the forefront of lidar technology development with products designed to integrate sensors with AI, giving cars autonomous safety features to support a human driver. After losing more than 70% of its value in 2022, LAZR is up nearly 50% this year. The stock garners a solid Buy rating from the 12 analysts offering recommendations. An average price target of $12 represents a 55% upside from the current price. 

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Small-cap Berkshire Grey (BGRY) leans to the speculative side of the scale, but according to certain Wall Street pros, BGRY has the potential to reward investors with a more than 110% projected upside. The American tech company develops integrated artificial intelligence and robotic solutions for e-commerce, retail replenishment, and logistics and has been gaining investor attention. The share price is up a whopping 77% YTD and may have plenty of room to run if the two analysts’ recommendations are correct.    

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