3 Artificial Intelligence (AI) Stocks That Can Skyrocket Up to 232%, According to Select Wall Street Analysts

Though the last two months have been a roller-coaster ride for Wall Street, the previous two-plus years were dominated by optimism. In 2024, the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all soared to multiple record-closing highs

Though numerous factors are responsible for powering the stock market to new heights, no catalyst stands out more than the rise of artificial intelligence (AI).

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With AI, software and systems are given the ability to reason, act, and potentially even evolve on their own. This capacity to make split-second decisions without the need for human intervention is what gives this technology a mouthwatering addressable market. In Sizing the Prize, PwC pegged the impact of AI at $15.7 trillion for the global economy by 2030.

Image source: Getty Images.

The massive size of AI's addressable market hasn't been lost on Wall Street or its analysts. High-water price target projections imply upside of up to 232% for three widely owned AI stocks, according to select Wall Street analysts.

Nvidia: Implied upside of 117%

The first game-changing artificial intelligence stock that at least one analyst views as offering triple-digit upside is none other than the face of this technological revolution, Nvidia (NASDAQ: NVDA).

Amid a slew of recent price target cuts from Wall Street, analyst Ivan Feinseth of Tigress Financial has held firm at the Street-high target of $220 per share for Nvidia. If accurate, this would imply 117% upside for Nvidia (based on its April 17 close), and likely make it the world's largest publicly traded company.

Feinseth's optimism comes from the ongoing build-out of data center infrastructure. Nvidia's Hopper (H100) graphics processing unit (GPU) and successor Blackwell GPU architecture rapidly became the preferred choice for businesses wanting to run generative AI solutions and build/train large language models. Aggressive spending by businesses wanting to lead the charge in their respective industries should bode well for Nvidia.

Furthermore, Feinseth has pointed to the company's innovation as a way to justify an aggressive valuation. The introduction of Blackwell, which will be followed by Vera Rubin in 2026 and Vera Rubin Ultra in the second-half of 2027, points to the company's commitment of maintaining its compute advantage over its rivals. Feinseth expects a steady upgrade cycle to fuel Nvidia's growth.

But there's also a good chance Feinseth's aggressive price target isn't met. For one, this Street-high projection is going up against history. At no point spanning more than three decades has a next-big-thing technology or innovation avoided a bubble-bursting event. Even though the future of AI is bright and the technology offers real-world use cases, most businesses haven't yet figured out how to optimize their AI solutions, or how to even generate a positive return on their AI investments. This all points to an eventual bubble forming and bursting.

Additionally, Nvidia's biggest catalyst -- AI-GPU scarcity -- is waning. Many of the company's top customers by net sales (mostly members of the "Magnificent Seven") are internally developing AI chips and solutions to use their data centers. Even though these chips won't be sold externally, they can take up valuable data center real estate that Nvidia had hoped to grab. As AI-GPU scarcity declines, so will Nvidia's pricing power, as well as its gross margin.

Image source: Getty Images.

Super Micro Computer: Implied upside of 122%

A second AI stock with triple-digit percentage upside, based on the prognostication of one Wall Street analyst, is customizable rack server and storage solutions specialist Super Micro Computer (NASDAQ: SMCI).

Based on a late-February price target hike, Loop Capital's Ananda Baruah now sees shares of Supermicro reaching $70. Should Baruah's forecast come to fruition, existing shareholders (as of the closing bell on April 17) would enjoy future gains of 122%!

In a note that explained the reasoning behind his and his firm's $70 price target, Baruah pointed to Supermicro's positioning within the AI arena as cause for excitement. Businesses can't garner sustainable moats or first-mover advantages without first getting the necessary infrastructure in place to operate AI-accelerated data centers.

Baruah pointed to Super Micro Computer's usage of Nvidia's next-gen GB200 and GB300 chips for AI server businesses as another major catalyst. This coincides with Supermicro's top two customers spending aggressively on infrastructure in 2025.

However, a $70 share price might be a tough stretch over the next year for Super Micro Computer given its checkered past. For instance, Supermicro faced allegations of "accounting manipulation" from short-selling firm Hindenburg Research last summer. Following these allegations, Supermicro's fiscal 2024 annual report and fiscal first-quarter 2025 filings were delayed, and its auditor, Ernst & Young, resigned.

The good news for Super Micro Computer is that an independent committee uncovered no evidence of wrongdoing by management. Nevertheless, damage to the company's image has been done. It's going to take some time before the investing community trusts in Supermicro's reported figures and forecasted growth rate.

Competition among rack server solutions is also picking up at a breakneck pace. It's not clear if Supermicro offers a true differentiator that will allow it to stand out from other AI infrastructure companies over the long run.

SoundHound AI: Implied upside of 232%

The third AI stock that could knock it out of the ballpark in the return column, according to one Wall Street analyst, is AI voice recognition and conversational technologies company SoundHound AI (NASDAQ: SOUN).

Based on the sky-high price target of $26 per share set from Scott Buck of H.C. Wainwright, SoundHound AI stock could climb by 232% over the next year. Interestingly, SoundHound AI shares nearly touched $25 per share on Dec. 26, but have fallen below $8 per share amid a bout of historic stock market volatility.

Buck's outsized optimism stems from his belief that SoundHound AI has built a rapidly scalable platform. Rather than viewing the company's AI voice recognition technologies as being used in specific industries and ecosystems, Buck is looking at the merging of these ecosystems to complement one another. For instance, using voice recognition in a vehicle to place an order or lock in a reservation with a virtual agent for a restaurant. SoundHound's slice of the revenue pie could grow rapidly if it can cohesively tie these ecosystems together.

SoundHound AI also represents the next stage of the AI revolution. Though we're, arguably, still in the initial stages of rapid infrastructure expansion, the narrative is beginning to shift to real-world application and agentic AI -- i.e., AI agents that work with/assist humans and other AI solutions.

But as is the theme with this list of potential AI moonshot stocks, there are plenty of questions still unanswered. Despite closing out 2024 with a 101% year-over-year increase in full-year sales during the fourth quarter (Q4), the company's Q4 adjusted net loss nearly doubled to about $19 million. Having to spend aggressively on expansion and innovation is ballooning its losses.

While SoundHound did end 2024 with $198 million in cash and cash equivalents (along with no debt) after selling shares of its stock, it used nearly $109 million in its operating activities last year. This was up more than $40 million from the previous year. It's possible SoundHound AI may need to dilute its shareholders again to raise additional capital.

Though SoundHound's sales growth is jaw-dropping, it has a long way to go to prove itself to Wall Street and its investors.

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Sean Williams has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Nvidia. The Motley Fool has a disclosure policy.