Top 8 Best AI Stocks Under $10 for High-Growth in 2024

Introduction:

Artificial intelligence (AI) is rapidly transforming our world, and investing in AI stocks can be a great way to capitalize on this growth. However, with many AI stocks trading at high prices, finding affordable options can be a challenge.

That’s where this list comes in! We’ve compiled 8 of the best AI stocks under $10 that offer high-growth potential for investors. These companies are at the forefront of various AI applications, from voice recognition to autonomous vehicles, and their low share prices present an attractive entry point.

Investing in AI Stocks Under $10:

It’s important to remember that investing in any stock, including AI stocks, carries risk. These companies are typically smaller and more volatile than established blue-chip stocks. However, for investors with a high-risk tolerance, AI stocks under $10 offer the potential for significant returns.

Key Considerations:

Investing in stocks under $10 comes with inherent risks. These companies often have smaller market caps, lower liquidity, and higher volatility. Thorough research and a diversified portfolio are crucial.

Factors to consider:

Company fundamentals: Analyze financials, leadership, and competitive landscape.
Growth potential: Evaluate the company’s AI technology, target market, and expansion plans.
Risk tolerance: Be aware of the volatility and potential downside of penny stocks.

1. NIO Inc.:

NIO Inc. is a Chinese electric vehicle (EV) maker that has quickly become a major player in the rapidly growing market. Founded in 2014, the company has gained recognition for its sleek designs, advanced technology, and focus on building a community around its vehicles.

NIO’s Competitive Edge:

Premium EV focus: NIO targets the premium segment of the EV market, offering high-performance vehicles with luxurious interiors and advanced features like autonomous driving capabilities. This sets them apart from mass-market EV makers like BYD and Geely.

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Battery-swapping technology: NIO has developed a unique battery-swapping technology that allows drivers to exchange their depleted batteries for fully charged ones in just minutes. This addresses one of the major pain points for EV owners: range anxiety.

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Community building: NIO goes beyond just selling cars. The company actively fosters a community of owners through events, clubs, and online forums. This creates strong brand loyalty and encourages repeat purchases.
Global ambitions: NIO is not just content with dominating the Chinese market. The company has ambitious plans for global expansion, starting with Europe and the United States.

Investing in NIO:

NIO is a high-growth company with a lot of potential. However, it is important to remember that the stock is also relatively volatile. Investors should carefully consider their risk tolerance before investing in NIO.

Here are some key factors to consider:

The future of the Chinese EV market: China is the world’s largest EV market and is expected to continue growing rapidly in the coming years. This bodes well for NIO’s long-term prospects.
NIO’s ability to execute its plans: The company has ambitious plans for expansion and new model launches. However, it is important to monitor how well NIO can execute these plans.
Competition: The Chinese EV market is becoming increasingly competitive. NIO will need to maintain its technological edge and brand differentiation to stay ahead of the competition.

2.FiscalNote:

FiscalNote Holdings Inc. (NYSE: NOTE) is a publicly traded software, data, and media company based in Washington, D.C. Founded in 2013 by Timothy Hwang, Gerald Yao, and Jonathan Chen, FiscalNote has established itself as a leader in the realm of policy and market intelligence.

Bridging the Gap Between Data and Actionable Insights

FiscalNote’s core mission is to empower organizations with critical insights and the tools to turn them into action. This is achieved through a unique blend of:

Data: FiscalNote aggregates vast amounts of data from various sources, including government documents, legislative databases, news feeds, and public filings.
Technology: The company leverages AI and machine learning to analyze and structure this data, making it searchable, digestible, and actionable.
Insights: FiscalNote employs a team of subject matter experts who translate the data into clear and concise insights, helping clients understand the implications of complex policy and market dynamics.

A Suite of Solutions for Diverse Needs

FiscalNote offers a comprehensive suite of solutions catering to a wide range of client needs. Some of the company’s flagship offerings include:

FiscalNote Government Relationship Management (GRM): This cloud-based platform provides real-time tracking and analysis of legislative activity, regulatory changes, and government contracts. It empowers businesses to stay ahead of the curve and make informed decisions based on the latest policy developments.
FrontierView: This global risk intelligence platform uses AI to predict and mitigate political and economic risks in over 180 countries. It helps businesses navigate complex geopolitical landscapes and make informed decisions about where to invest and expand.
Oxford Analytica: This renowned geopolitical consultancy provides in-depth analysis and forecasts on global political trends, security risks, and economic developments. It helps clients understand the bigger picture and make strategic decisions based on a comprehensive understanding of the international landscape.
VoterVoice: This citizen engagement platform helps organizations connect with their stakeholders and advocate for their interests. It allows businesses to build relationships with policymakers, mobilize supporters, and influence public policy.

3.SoundHound AI: The Sound of the Future

SoundHound AI Inc. is a speech recognition and artificial intelligence company founded in 2005. It has developed many innovative products and technologies that use voice and sound to interact with the world around us. SoundHound’s flagship product is Houndify, a voice AI platform that powers voice assistants in cars, smart speakers, and other devices.

SoundHound’s Technology

SoundHound’s technology is based on a deep understanding of speech and sound. The company’s speech recognition engine can understand natural language, even in noisy environments. SoundHound’s sound recognition technology can identify music, TV shows, movies, and other sounds.

SoundHound’s Products

SoundHound’s products are used by a variety of companies, including:

Hyundai: SoundHound’s technology powers the voice assistant in Hyundai’s Bluelink connected car system.
Mercedes-Benz: SoundHound’s technology powers the voice assistant in Mercedes-Benz’s MBUX infotainment system.
Snap: SoundHound’s technology powers the voice search feature in Snapchat.
Pandora: SoundHound’s technology powers the voice search feature in Pandora.
VIZIO: SoundHound’s technology powers the voice assistant in VIZIO’s SmartCast TVs.

SoundHound’s Future

SoundHound is a rapidly growing company with a lot of potential. The company is well-positioned to benefit from the growing demand for voice-enabled devices and services. SoundHound is also working on many new technologies, such as voice-powered search and personalization.

Here are some of the key factors that make SoundHound a promising company:

Strong technology: SoundHound’s speech recognition and sound recognition technologies are some of the best in the world.
Partnerships: SoundHound has partnerships with many major companies, which gives it access to a large market.
Growth potential: The market for voice-enabled devices and services is growing rapidly, and SoundHound is well-positioned to take advantage of this growth.
New technologies: SoundHound is working on some new technologies, that could give it a competitive edge in the future.

4. Nerdy Inc.:

Nerdy Inc. is an American online tutoring and learning platform that connects students with expert tutors for personalized one-on-one instruction. Founded in 2014 by Charles Mehring, Adam Enbar, and Max Barach, Nerdy has grown to become a leading provider of online tutoring services, serving students of all ages and academic levels.

Nerdy’s Mission:

Nerdy’s mission is to “make high-quality, personalized education accessible and affordable for everyone.” The company believes that every student deserves access to the support they need to succeed, and they strive to provide a convenient and effective way for students to get the help they need.

Nerdy’s Services:

Nerdy offers a wide range of services, including:

Academic tutoring: Nerdy connects students with expert tutors in over 300 subjects, from math and science to history and English. Tutors are available online 24/7, so students can get help anytime, anywhere.
Test prep: Nerdy offers test prep courses for popular standardized tests, such as the SAT, ACT, and GMAT. The company’s courses are designed to help students improve their scores and increase their chances of getting into their dream schools.
College admissions counseling: Nerdy provides comprehensive counseling services, including essay help, application review, and interview coaching. The company’s goal is to help students navigate the college admissions process and get accepted to the best schools possible.
Language learning: Nerdy offers language learning courses in over 15 languages. The company’s courses are designed to help students learn a new language at their own pace.

Nerdy’s Technology:

Nerdy uses many innovative technologies to deliver its services, such as:

Matching algorithm: Nerdy’s matching algorithm pairs students with tutors who are the best fit for their needs. This ensures that students receive the most effective instruction possible.
Online platform: Nerdy’s online platform makes it easy for students to connect with tutors and attend their tutoring sessions. The platform is also packed with features that make learning fun and engaging.
AI-powered tools: Nerdy uses AI-powered tools to personalize the learning experience for each student. This includes tools that recommend learning materials, track progress, and provide feedback.

5.Rekor Systems Inc.:

Rekor Systems Inc. isn’t your average tech company. They’re not building the next social media platform or streaming service. Instead, Rekor is at the forefront of a revolution, using artificial intelligence (AI) to make our roads safer, smarter, and more efficient.

Rekor’s Mission:

Rekor’s mission is clear: “To bridge the gap between physical security and data insights through transformative AI-powered roadway intelligence solutions.” In simpler terms, they want to leverage AI to turn our existing infrastructure – roads, cameras, and more – into a vast network of intelligent sensors that can gather real-time data, analyze it, and provide actionable insights.

How Rekor Does It:

Rekor’s secret sauce lies in its Rekor One® Roadway Intelligence Engine. This AI-powered platform ingests massive amounts of data from various sources, including:

Proprietary camera networks: Rekor has its network of cameras deployed at strategic locations, capturing footage of vehicles and other activity on the road.
Third-party data providers: Rekor also partners with other companies, such as traffic authorities and toll operators, to access their data feeds.
Existing infrastructure: Rekor can even integrate with existing traffic lights, cameras, and sensors, transforming them into intelligent data sources.

Once the data is gathered, Rekor One® uses computer vision, edge processing, pattern recognition, and predictive algorithms to extract valuable insights. This can include:

Vehicle identification and tracking: Rekor can identify the make, model, and license plate of every vehicle that passes through its camera network. This information can be used for various purposes, such as tracking stolen vehicles, enforcing traffic laws, and collecting tolls.
Incident detection and analysis: Rekor can automatically detect accidents, road closures, and other critical events. This information can be used to dispatch emergency responders, alert drivers, and improve traffic flow.
Predictive analytics: Rekor can use its historical data to predict future traffic patterns, identify potential problems, and recommend preventive measures

6. Lantronix Inc.:

Lantronix Inc. isn’t your typical tech company. While giants like Google and Apple focus on sleek consumer devices and software, Lantronix operates in the unseen realm, quietly connecting the physical world to the digital one. They’re the masters of edge intelligence, using their expertise to transform everyday devices into intelligent nodes on the vast network of the Internet of Things (IoT).

From Humble Beginnings to Global Leader:

Founded in 1989, Lantronix has come a long way from its roots in serial communication solutions. Today, they’re a global leader in edge computing, IoT connectivity, and secure data management. Their products and services power diverse applications, from industrial automation and medical devices to connected cars and smart buildings.

Lantronix’s Secret Weapon: Edge Intelligence

At the heart of Lantronix’s offerings lies their focus on edge intelligence. This means processing data and making decisions right where it’s generated, at the network’s edge, instead of sending everything to a central cloud server. This approach offers several advantages:

Faster decision-making: By analyzing data locally, devices can react to situations in real time, without the latency of cloud communication. This is crucial for applications like industrial automation, where quick decisions can prevent accidents or optimize production processes.
Reduced bandwidth and cloud costs: Processing data at the edge reduces the amount of information that needs to be sent to the cloud, saving on bandwidth costs and improving overall network efficiency.
Improved security: Keeping sensitive data on-device instead of sending it to the cloud minimizes the risk of cyberattacks and data breaches.

7.AudioEye Inc.:

In the bustling marketplace of digital technology, one company stands out with a mission beyond profit: AudioEye Inc. Founded in 2013 with a noble vision, AudioEye works tirelessly to make the digital world accessible to everyone, including those with disabilities.

Bridging the Digital Divide:

According to the World Health Organization, over 1 billion people globally experience some form of disability. For many, navigating the web can be a frustrating and inaccessible experience. Barriers like missing alt text for images, unreadable fonts, and malfunctioning keyboard controls can leave millions excluded from the vast information and resources available online.

AudioEye steps in to demolish these barriers. Their groundbreaking platform, powered by a combination of automation and human expertise, identifies and remediates accessibility issues on websites and digital content. This includes:

Generating descriptive alt text for images: Images without proper alt text become invisible to people using screen readers. AudioEye automatically provides clear and concise descriptions, allowing everyone to understand the visual content.
Enhancing keyboard navigation: AudioEye removes obstacles that hinder keyboard navigation, ensuring websites are readily accessible to those who cannot use a mouse.
Adjusting font size and color contrast: AudioEye allows users to customize font size and color contrast for optimal readability, catering to a wider range of visual abilities.
Adding audio descriptions: In some cases, AudioEye even adds audio descriptions for complex visuals, further breaking down information barriers.

Impact Beyond Technology:

AudioEye’s impact extends far beyond the technical realm. By making websites and digital content accessible, they empower individuals with disabilities to:

Participate in education: Students with disabilities can access online learning materials and participate in virtual classrooms on an equal footing.
Seek employment opportunities: Accessible online job boards and applications open doors for individuals with disabilities, expanding their reach in the job market.
Stay informed and engaged: News websites, government resources, and social media platforms become accessible, fostering greater civic engagement and informed decision-making.
Connect with the world: Social media, online communities, and entertainment platforms become available, building bridges and combating isolation.

8. Lantern Pharma Inc.: Illuminating Drug Discovery with AI

Lantern Pharma Inc. isn’t your typical pharmaceutical company. While many pharma giants stick to familiar formulas, Lantern leverages cutting-edge artificial intelligence (AI) to transform the way we discover and develop life-saving drugs. Their mission? To light the path towards faster, more personalized, and less costly cancer therapies.

Rewiring Drug Discovery with AI:

The traditional drug discovery process is notoriously slow, expensive, and fraught with failures. It can take years and billions of dollars to bring a new drug to market, and even then, most candidates never make it past clinical trials. Lantern aims to rewrite this narrative by harnessing the power of AI.

Their secret weapon is RADR®, a proprietary AI platform that analyzes massive datasets of genomic, clinical, and drug response information. By identifying molecular patterns and hidden connections, RADR® helps Lantern:

Predict which cancer patients are most likely to respond to specific drugs: This personalized approach allows them to prioritize promising candidates and avoid dead ends, significantly reducing both time and cost.
Rescue and revitalize abandoned drugs: RADR® can uncover hidden potential in drugs that previously failed clinical trials, giving them a second chance to save lives.
Develop novel drug candidates with AI-powered precision: Lantern harnesses the power of AI to design new drugs with targeted mechanisms of action, increasing their chances of success in clinical trials.

From Promise to Progress:

Lantern’s AI-powered approach isn’t just theoretical. They are making significant strides in the fight against cancer:

Clinical advancements: Lantern’s lead programs are progressing through clinical trials for various cancer indications, showcasing the potential of their AI-driven approach.
Industry partnerships: Collaborations with major pharmaceutical companies leverage Lantern’s expertise to accelerate their own drug discovery pipelines.
Recognition and awards: Lantern’s innovative approach has garnered recognition from leading industry organizations and publications.

Challenges and the Path Forward:

Despite its exciting potential, Lantern still faces challenges. Integrating AI into drug discovery is a complex process, and regulatory hurdles still need to be overcome. Additionally, convincing established players in the pharmaceutical industry to embrace new AI-powered methods can be challenging.

8 best ai stocks to invest in 2024:

Company	Ticker	Price	Sector	Focus	Key Strengths	Potential Risks
NIO Inc.	NIO	$7.91	Electric Vehicles	AI-powered autonomous driving	Strong brand, Chinese EV market growth, advanced AI tech	Geopolitical concerns, competition, profitability challenges
FiscalNote Holdings Inc.	NOTE	$4.49	Government Tech	AI-powered policy and regulatory intelligence	Government contracts, diverse data analysis, SaaS model	Market penetration, reliance on government spending
SoundHound AI Inc.	SOUN	$2.12	Voice Technology	AI-powered voice recognition and search	Strong partnerships, diverse applications, low-power technology	Competition from larger players, integration challenges
Nerdy Inc.	NRDY	$3.36	Education Technology	AI-powered tutoring and personalized learning	Large student base, adaptive learning platform, subscription model	Profitability hurdles, competition from traditional education
Rekor Systems Inc.	REKR	$3.78	Security & Surveillance	AI-powered video analytics for public safety	Government contracts, growing security demand, cloud-based solutions	Market saturation, potential privacy concerns
Lantronix Inc.	LTRX	$3.71	Internet of Things (IoT)	AI-powered edge computing for industrial applications	IoT market growth, device connectivity expertise, software focus	Scalability challenges, competition in mature markets
AudioEye Inc.	AEYE	$3.75	Accessibility Technology	AI-powered website accessibility solutions	Growing need for accessibility, social responsibility impact, subscription model	Market penetration, reliance on web developers
Lantern Pharma Inc.	LTRN	$2.05	Healthcare	AI-powered drug discovery and development	Personalized medicine potential, faster drug development, data-driven approach	Early-stage research, regulatory hurdles, long development