The Micro & Small Cap AI Stocks Index Was Up 13.5% Last Week; Now Up 175.5% YTD

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There are a large number of micro/small cap AI & related (AI&R) stocks with market capitalizations between $100M and $700M flying under the radar that warrant your consideration. As you will see below, 70% of the 10 constituents in the munKNEE Micro/Small Cap AI Stocks Index trade for under $5/share (officially referred to as "penny" stocks) and, as such, provide exposure to the sector with less money invested. The index (see below) was UP 13.5% last week and is now UP 175.5% YTD.


The munKNEE Micro/Small Cap AI Stocks Index

Our new munKNEE Micro/Small Cap AI Stocks Index consists of 10 micro/small cap AI&R stocks (average market capitalization of $397M) with last week's price changes ranked in descending order, YTD price changes, descriptions of their business, and recent news in the media.

  1. Applied Optoelecronics (AAOI): UP 34.2% last week; UP 578.2% YTD
  2. SoundHound AI (SOUN): UP 23.6% last week; UP 70.2% YTD
  3. Rigetti Computing (RGTI): UP 18.3% last week; UP 51.2% YTD
    • RGTI has developed the industry’s first multi-chip quantum processor for scalable quantum computing systems and serves global enterprise, government, and research clients through its Rigetti Quantum Cloud Services platform.
    • Market Capitalization: $155M
    • Read: Rigetti Computing Reports Third Quarter 2023 Results
  4. (BBAI): UP 17.7% last week; UP 146.5% YTD
  5. Evolv Technologies (EVLV); UP 16.0% last week; UP 70.5% YTD
  6. Digimarc (DMRC): UP 11.2% last week; UP 85.0% YTD
  7. Innodata (INOD): UP 9.4% last week; UP 192.8% YTD
  8. Rekor Systems (REKR): UP 6.0% last week; UP 84.5% YTD
  9. Verses AI (VRSSF): No Change last week; UP 74.0% YTD
    • VRSSF offers a voice and text-based personal AI assistant designed to learn about its users in order to better organize, manage, and optimize their digital life that operates under a user’s direction and on their behalf, searching, filtering, and summarizing information across multiple data sources.
    • Market Capitalization: $126M
    • Read: VERSES AI Announces SimWell Joins the Genius™ Beta Program
  10.  Applied Digital Corporation (APLD): DOWN 13.0% last week; UP 119.6% YTD 
    • APLD launched its AI Cloud services in May, 2023, that will provide high-performance computing power for AI applications; has signed agreements with three (3) major customers in the last 4 months worth $640M including an agreement with Hewlett Packard in July to make its supercomputers accessible through its AI cloud service and achieved “Elite Partner” status in the NVIDIA Partner Network in August.
    • Market Capitalization: $447M
    • Read: Applied Digital Reports Fiscal First Quarter 2024 Financial Results

The above 10 stocks have an average market capitalization of $379M, an average share price of $4.30 when the outlier DMRC of $34.10 is excluded) and they were UP 13.5% last week, on average, and are UP 175.5% YTD, on average.

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Disclosure: None

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