5 artificial intelligence (AI) stocks that more than doubled this year and could still rise
As the world embraces artificial intelligence (AI) and companies providing development infrastructure thrive, AI stocks are leading the market higher. As a group, the industry is outperforming the market. One standard signal is Nasdaq-100It features trending technology stocks. S&P 500 this year. Many exchange-traded funds (ETFs) focused on AI are performing much better. Consider the following: Roundhill Created AI and Technology ETF, iShares U.S. Power and Infrastructure ETFand Pacer Data and Infrastructure Real Estate ETF.
CHAT Total Return Level Data from YCharts
It’s only May, but some hot AI stocks have already more than doubled. take a look Bloom Energy (BE 9.05%), SanDisk (SNDK +1.80%), lumentum (light 3.10%), micron technology (M.U. 6.58%)and intel (INTC 6.18%).
BE data from YCharts
Here’s why they can still go higher.
1. Bloom Energy
Bloom Energy creates off-grid energy servers using proprietary fuel cell technology that can power organizations off the grid. In operation for 25 years, we serve a variety of industries from retail to space. However, it is exploding in the AI era because it can be easily deployed and scaled to support high-performance data centers.
today’s change
(-9.05%) $-27.46
current price
$275.95
Key data points
market capitalization
$78 billion
work range
$275.40 – $288.70
52 week range
$17.01 – $310.00
volume
10M
average volume
10M
gross profit
August 31st%
We are reporting phenomenal results. First-quarter sales were up 130% year-over-year, and management raised its full-year guidance from a 60% increase to an 80% increase. Operating cash flow increased by $184.3 million to $73.6 million, putting the company in the black. Bloom had been unprofitable for much of its life, and this increase in sales finally brought it into profitable territory with quarterly net income of $70 million.
2. SanDisk
Sandisk has been the AI story of the year as demand for data storage in its NAND flash memory products grows. AI companies require a variety of memory products, and SanDisk’s special technology can store data without continuous power.
Image source: SanDisk.
As demand soared and prices rose, sales also accelerated. Data center revenue grew 233% in the third quarter of fiscal 2026 (ending April 3), driving revenue up 251% year-over-year. Operating profit increased 319% to more than $4 billion.
To date, management expects this to continue. It expects fourth-quarter revenue to increase sevenfold and adjusted earnings per share (EPS) to increase to about $30 per share, up from a loss of $0.30 per share last year.
3. Lumentum
Lumentum creates essential optical products for high-speed data centers. It is one of the infrastructure providers that helps in moving large amounts of data over broadband networks and connecting servers at low cost.
Like other companies on the list, Lumentum has had completely different businesses servicing other technologies such as medical devices and manufacturing, but data centers now dominate its business.
today’s change
(-3.10%)$-31.11
current price
$970.70
Key data points
market capitalization
$76 billion
work range
$923.00 – $987.85
52 week range
$71.04 – $1085.68
volume
10M
average volume
6.4M
gross profit
35.36%
Revenue for the third quarter of fiscal 2026 (ended March 28) increased 90% year-over-year, and the company reported a generally accepted accounting principles (GAAP) operating profit, up from a loss last year. “We expect our earnings power to increase further as the key growth drivers of co-packaged optics and optical circuit switches take off,” said CEO Michael Hurlston.
4. Micron Technology
Micron also makes memory chips and has been in the business for a long time. Many types of technology, including computers and smartphones, rely on memory chips to function, and Micron makes DRAM memory chips and high-bandwidth memory (HBM) chips that drive short-term memory. We also sell NAND memory chips.
Image source: Micron.
Because it is an essential component for AI chips, the business scale is rapidly increasing. In the second quarter of fiscal 2026 (ending February 26), revenue increased 70% year-over-year, with earnings per share increasing from $4.60 to $12.07.
The company is benefiting from high demand and low supply, and management expects this to persist in the near term.
5. Intel
Intel operated a large-scale technology business even before the AI boom, but it began to become meaningless as it failed to predict and respond to the changing technological environment. Big tech companies have shifted from Intel’s central processing units (CPUs) to graphics processing units (GPUs) and other AI chips to drive AI development, and as margins have tightened, so have profits.
today’s change
(-6.18%) $-7.16
current price
$108.77
Key data points
market capitalization
$547 billion
work range
$105.02 -$110.57
52 week range
$18.96 -$132.75
volume
135M
average volume
113M
gross profit
35.90%
However, CPUs are again in high demand as they are required for high inference workloads. Intel has signed several important deals with large AI companies and is seeing growth again. Intel has the backing of decades of technology leadership, and this could be a powerful turnaround story in the months and years ahead.
