Artificial intelligence is without a doubt the next big thing. This is something we all remember, or at least some of us do. Artificial Intelligence will revolutionize every aspect of life as we know it in the next few decades. Big tech firms are well aware of this, and they are all dipping their toes in the artificial intelligence bowl, in search for AI stocks to invest funds in. 

Google, Amazon, Facebook, Nvidia, Microsoft, and Tesla, among others, are among the frontrunners. Yeah, and Tesla is a little out of the ordinary, but it is undoubtedly one of the most promising. 

Five budget-friendly AI stocks 

Ideanomics Inc

While Ideanomics is best known as a financial technology firm based in New York, its electric vehicle business accounts for the majority of the company’s revenue. The business currently presents itself as a FinTech company while still heavily promoting itself as an EV company, capitalizing on the success of both sectors and Wall Street’s bullishness on both. 

To comprehend IDEX, one must start from the beginning. Are you currently on the lookout for AI stocks for short-term trading? IDEX is the ideal stock for experienced speculators and short-term story traders in an extremely speculative market. This stock has the potential to make you a lot of money. 

Compared to other AI stocks, the stock was trading around $1 per share in mid-November 2020, and it was trading around $5 per share 9-10 weeks later. In just 9–10 weeks, you’ll have made a 400 percent profit!

Duos Technologies Group Inc

Duos Technologies Group, Inc. is a North American company that designs, develops, and distributes artificial intelligence-based security, safety, and analytics solutions. When compared to other AI stocks, this stock is currently trading under $10. Duos Technologies was founded in 1990 and has been providing smart security and safety solutions since 2001.

Duos Technologies became a public company in 2015 after an OTC listing, and in 2020, it became one of the first firms to trade over-the-counter on the NASDAQ. With its strong intellectual property portfolio, the company has the potential to be considered amongst long-term AI stocks. Its main competencies are in the creation of intelligent technology for the transformation of rail transportation.

Innodata Inc

With offices in the United States, Canada, the United Kingdom, and the Netherlands, Innodata is a leading computer engineering firm. To help its clients overcome complex data problems, construct usable digital data, and set up successful marketing campaigns, the organization employs advanced artificial intelligence and machine learning models. 

INOD is one of the few pure AI stocks with a current stock price under $10. It has a market capitalization of $150 million, which is less than 5 times the earnings. This indicates that unlike many AI stocks, INOD is undervalued. Long-term, the organization aspires to become a global data innovation powerhouse that serves clients from different industries in various capacities.

Cootek [Cayman] Inc 

CooTek is a big-data-driven mobile internet business that creates and sells a variety of artificial intelligence and machine learning-based software applications. It is involved both domestically and internationally. Hi Shou, Drink Water Reminder, Step Tracker, Cherry, and Happy Jogging are among its fitness apps, as is Fengdu Novel, a popular online literature app. 

CTK has a market capitalization of over $270 million. There are only a few AI stocks that have a price less than $5 and CTK is amongst them. The company’s stock has increased by more than 60 percent YTD and has a trailing twelve-month revenue of $408.05 million, implying that it is currently trading at 1x earnings, making it a part of the relatively inexpensive AI stocks.

Remark Holdings Inc 

Remark Holdings is an artificial intelligence company that develops AI-based technologies for companies and software developers across a wide range of industries, including retail, finance, education, entertainment, and public safety. MARK is up over 70 percent YTD and trades as an AI stock under $5; however, the stock is not cheap, with a market cap of over $300 million and a price of more than 50 times annual sales.

Our final thoughts 

Artificial intelligence (AI) is causing a stir, disrupting the status quo, and it is here to stay. Artificial intelligence is the future, so investing in AI stocks is like investing in the future. It’s a difficult decision, but whatever you decide and whenever you decide, it’ll be your decision.