What's the most exciting area to invest in right now? A good case can be made for artificial intelligence (AI). Since OpenAI's launch of ChatGPT in late 2022, the stock market has enjoyed strong momentum overall. Mega-cap AI stocks led the way, especially Nvidia (NVDA 0.88%) and Meta Platforms (META 1.30%).
While these tech titans are still going strong, they haven't been the biggest AI winners in 2025. Three other sizzling-hot AI stocks have skyrocketed over 120% this year.
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1. AppLovin
AppLovin (APP -2.87%) makes software and AI solutions for mobile advertising, marketing, and analytics. The company's core AppDiscovery solution helps mobile app developers connect with targeted users. Its MAX product runs an in-app auction that increases monetization of ads displayed in mobile apps. AppLovin's Adjust platform helps advertisers analyze data from their campaigns. Wurl is a connected TV platform that distributes streaming video and helps put content in front of the ideal audiences.
This stock has delivered an impressive gain of more than 120% so far in 2025. Over the last three years, AppLovin's shares have generated a jaw-dropping return of more than 36x.
AppLovin's revenue jumped 77% year over year in the second quarter of 2025 to around $1.3 billion. The company's net income vaulted 164% higher to $820 million.
Can this stock's momentum continue? Maybe, but Wall Street isn't optimistic. The average 12-month price target for AppLovin is roughly 18% below the current share price.
2. CoreWeave
AI hyperscaler CoreWeave (CRWV 0.72%) conducted its initial public offering (IPO) on March 28, 2025. The company operates a cloud platform that's specifically built for hosting generative AI applications. Nvidia is a major partner with CoreWeave as well as an investor, with the huge GPU maker's stake worth nearly $4 billion at the end of Q2.
CoreWeave's IPO was a big success. The AI stock is up more than 240% after only around six months of trading publicly.
The company's revenue more than tripled year over year in Q2. Although CoreWeave isn't profitable, that's mainly because it's investing heavily in building out additional AI infrastructure to support fast-growing demand.
Analysts don't think CoreWeave stock will move much higher over the next 12 months. However, most of their forecasts came before the company announced a massive $14 billion deal with Meta in late September.
3. Nebius Group
Another AI hyperscaler has been an even bigger winner than CoreWeave in 2025. Nebius Group's (NBIS 8.88%) shares have more than quadrupled year to date. The stock shows few signs of slowing down.
Nebius Group has an interesting history. It was initially known as Yandex, which operates the largest search engine and ride-sharing service in Russia. Following Russia's invasion of Ukraine, the company sold all of its Russian assets and rebranded itself under the Nebius Group name with a focus on AI infrastructure. That looks like a smart move in retrospect, with Nebius' revenue soaring 625% year over year in Q2.
However, operating an AI cloud platform isn't Nebius Group's only business. The company's Avride subsidiary develops autonomous driving technology. Avride is gearing up for a commercial launch of an autonomous ride-hailing service in partnership with Uber Technologies (UBER -0.10%) in Dallas, Texas, later this year. TripleTen, another subsidiary, uses AI to help technology workers improve their skills. In addition, Nebius Group owns stakes in open-source database company ClickHouse and AI data specialist Toloka.
Wall Street analysts appear to be more bullish about Nebius Group than they are about AppLovin and CoreWeave. The consensus 12-month price target among analysts surveyed by S&P Global (SPGI -1.11%) in September reflected an upside potential of around 36%. Five of the six analysts recommended Nebius Group stock as a "buy" or a "strong buy."
