These 9 Micro/Small Cap AI Stocks Continue In Bubble Mode

Photo by Steve Johnson on Unsplash

9 micro/small cap ($50M to $2B) AI & related stocks are still very much in bubble mode having advanced by more than 14.8%, on average, last week. To put things in perspective, the 91 constituent  AIQ Global X Artificial Intelligence & Technology ETF was only up 0.5% last week and the 35 constituent SOXX iShares Semiconductor ETF was only up 1.6%.

The performances of the 9 micro/small cap AI stocks still in bubble mode are ranked below as to their closing prices last week and YTD, in descending order, along with their individual market capitalizations, company descriptions and links to their most recent news.

1. Applied Optoelectronics (AAOI): UP 49.1%; UP 945.5% YTD 
   • AAOI provides fiber-optic access network products for the cable broadband, internet datacenter, telecom and fiber-to-the-home markets
   • Market Capitalization: $ 649M
   • Read: Applied Optoelectronics Reports Third Quarter 2023 Results
2. Applied Digital Corporation (APLD): UP 40.9%; UP 257.6% YTD
   • APLD designs, develops, and operates datacenters, provides artificial intelligence cloud services, high performance computing datacenter hosting, and crypto datacenter hosting services.
   • Market Capitalization: $267M
   • Read: Applied Digital Corporation (APLD) Shares Up Despite Recent Market Volatility
3. Innodata (INOD): UP 20.9%; UP 175.1% YTD
   • INOD provides AI-enabled software platforms and managed services for AI data annotation, AI digital transformation, and industry-specific business processes.
   • Market Capitalization: $235M
   • Read: Innodata Reports Third Quarter 2023 Results and Signing New Big Tech for Generative AI Development
4. Lantronix (LTRX): UP 14.2%; UP 49.6% YTD 
   • LTRX is a global provider of secure turnkey solutions for the Industrial Internet of Things (IoT) and the Intelligent IT market
   • Market Capitalization: $224M
   • Read: Lantronix Reports Results for First Quarter of Fiscal 2024
5. Evolv Technologies (EVLV): UP 11.3%; UP 104.1% YTD
   • EVLV screens people for threats without sacrificing the visitor experience
   • Market Capitalization: $633M
   • Read: EVLV Price Target Predicted To Rise Nearly $7.75 In 12 Months
6. Recursion Pharmaceuticals (RXRX): UP 7.5%; DOWN 1.4% YTD
   • RXRX is a leading clinical stage TechBio company decoding biology to industrialize drug discovery.
   • Market Capitalization: $1.6B
   • Read: RXRX Could Soar by 120%, According to Wall Street
7. GSI Technologies (GSIT): UP 6.5%; UP 70.5% YTD
   • GSIT is developer of the Gemini^® Associative Processing Unit for AI and high-performance computing and a leading provider of high-performance memory solutions for the networking, telecommunications, and military markets.
   • Market Capitalization: $70M
   • Read: GSI Technology Teams Up with UC Riverside to Supercharge AI and High Performance Computing with Gemini APU
8. BigBear.ai (BBAI): UP 2.4%; UP 159.7% YTD
   • BBAI provides AI and machine learning to assist customers in aggregating, interpreting, and synthesizing data to enable real-time decision-making capabilities.
   • Market Capitalization: $264M
   • Read: BigBear.ai Expands its Relationship with AWS to Deliver AI-Driven Solutions
9. Digimarc (DMRC): UP 1.8%; UP 83.8% YTD
   • DMRC software provides digital identifiers  designed to address counterfeiting, product authenticity, recycling accuracy, and supply chain traceability.
   • Market Capitalization: $690M
   • Read: Digimarc Reports Third Quarter 2023 Financial Results

The above 9 stocks have an average market capitalization of $556M ($426M when the outlier RXRX is excluded), were UP 14.8% last week, on average and are now UP 122.7% YTD, on average.

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