We recently published a list of 10 AI Stocks On Wall Street’s Radar. In this article, we are going to take a look at where Fortinet, Inc. (NASDAQ:FTNT) stands against other AI stocks that are on Wall Street’s radar today.

Unlike other companies, OpenAI does not struggle with market demand; noted Oliver Jay, managing director of international strategy at OpenAI. However, the challenge lies in converting the demand into real-world applications.

“The biggest challenge right now is ... converting that enthusiasm into real-life production-ready use case,” he said. “The gap is AI fluency — to know how to turn these concepts into actual business products.” - Oliver Jay at CNBC’s CONVERGE LIVE

Jay further noted that “working with large language models is a new paradigm. It’s not software. You need to build guardrails.” This will consequently ensure reliable performance.

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As AI competition intensifies, particularly after the emergence of DeepSeek, leading companies are moving quickly to stay ahead. In its latest, OpenAI has launched new tools for developers to help them build advanced AI agents. This will be done via a few application programming interfaces (APIs). The new tool, known as Responses API, is available to all developers at no additional cost and replaces OpenAI's Assistants API.

AI adoption and advancements, including those from OpenAI, are rapidly happening all at once, and almost everyone wants in on them. Speaking about the rapid uptick in ChatGPT usage at the two-day live event in Singapore, Jay noted how the city-state has the highest per-capita usage of ChatGPT in the world. Moreover, the advent of artificial intelligence technology is a special opportunity for all companies.

“This is the first time Asian companies, potentially, can take a leadership role on a global stage,” he said. “Traditionally, you see technology adopted in Silicon Valley first, and then Europe. ... Now there could be a company from Asia that will be the most innovative.”

Even Asian companies have a chance to lead in global innovation through artificial intelligence. Countries like China, South Korea, and India, are investing heavily in AI and can equally well challenge Silicon Valley's dominance in the next wave of technological advancements.

For this article, we selected AI stocks by going through news articles, stock analysis, and press releases. These stocks are also popular among hedge funds. The hedge fund data is as of Q4 2024.

Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points  (see more details here).

10 Important AI Announcements for Investors

Fortinet, Inc. (NASDAQ:FTNT)

Number of Hedge Fund Holders: 61

Fortinet, Inc. (NASDAQ:FTNT) is a cybersecurity company that provides enterprise-level next-generation firewalls and network security solutions, leveraging artificial intelligence across its cybersecurity products. On March 11, the company announced that it has advanced its OT Security Platform to further support protection of critical infrastructure and industrial sites from evolving cyberthreats.

The updates include deeper OT-specific threat visibility with the FortiGuard OT Security Service, new ruggedized solutions for secure networking, and an enhanced OT SecOps portfolio for automated threat response and regulatory compliance tracking. Fortinet has also strengthened its AI-driven security operations (SecOps) capabilities for OT through updates to the FortiAnalyzer 7.6 and FortiDeceptor 6.1, improving threat insights and compliance reporting.

“Fortinet has been building an industry-leading OT Security Platform for 20-plus years and remains at the forefront of OT security innovation. As cyberthreats against critical infrastructure and across industries such as energy, transportation, and manufacturing continue to grow, Fortinet remains committed to delivering comprehensive security solutions tailored for operational technology environments. These latest enhancements give organizations the tools they need to improve their OT security posture and adhere to regulatory requirements—all managed through a single, unified platform.” -Nirav Shah, Senior Vice President, Products and Solutions at Fortinet.

Overall, FTNT ranks 10th on our list of AI stocks that are on Wall Street’s radar today. While we acknowledge the potential of FTNT as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than FTNT but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.