The artificial intelligence (AI) boom has largely been driven by high-profile companies such as Nvidia, Microsoft, Alphabet, Meta and Apple. But smaller players have also seen their stock prices soar in 2026.
Here’s a look at four hot AI stocks you might not have heard of, plus whether they might make good investments.
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Applied Optoelectronics (AOI) got a boost this year from a pair of “major program wins” for its optical transceiver business, according to technology investment analyst Uttam Dey.
Dey has a bullish outlook on the stock, even as he concedes that the markets are “still skeptical” about some of AOI’s growth prospects.
“Recent wins by a third hyperscaler customer suggest AI capex is continuing to increasingly flow towards beneficiaries like Applied Optoelectronics,” Dey wrote in an April 2 note for Seeking Alpha.
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Stock price (April 13 close): $307.93
YTD gain: 69%
AI market: Makes high-speed datacom transceivers and optical components designed to handle data traffic in AI and similar applications.
As of April 13, Coherent had a consensus rating of “moderate buy” among 21 analysts polled by Benzinga. There was a wide disparity on the price target, however — which means you might want to be careful about investing in the stock.
The mean price target was $277.83 per share — well below Coherent’s April 13 closing price. The high target was $375, while the low was $170.
Stock price (April 13 close): $689.89
YTD gain: 52%
AI market: Makes optical connectivity components needed in AI data centers.
Fabrinet is among the players that stand to benefit from Nvidia’s ongoing expansion. As Morningstar noted last month, Fabrinet’s status as Nvidia’s “primary manufacturing partner” will lead to increased demand for Fabrinet’s services.
That relationship was one reason Rosenblatt analyst Mike Genovese recently raised his price target on Fabrinet to $715 from $550 previously.
Stock price (April 13 close): $154.56
YTD gain: 85%
AI market: Builds large-scale, GPU-powered AI data centers.
Fabrinet also has benefited from its Nvidia partnership, but it’s widely favored by AI startups and individual users, as well, according to Motley Fool.
