We recently published our article 5 Cheap AI Stocks That Could Make You a Millionaire. To read the full story, you can go directly to 10 Cheap AI Stocks That Could Make You a Millionaire. In this article, we discuss QUALCOMM Incorporated (NASDAQ:QCOM) as one of the stocks gaining attention, and here’s a closer look at why it stands out in today’s market.

Artificial intelligence is no longer confined to Silicon Valley laboratories or science-fiction movies. It is already changing cloud computing, semiconductor production, customer service, digital advertising, defense, automation and creative software. Interestingly, the term “artificial intelligence” was introduced in 1956, but it took decades of advances in computing power, data and cloud infrastructure to turn AI into a major commercial industry.

The opportunity is also much bigger than chatbots. Every AI application depends on processors, advanced semiconductor packaging, servers, storage systems and high-speed networks. Businesses are also adopting AI agents to answer calls, automate office tasks, analyze information and create digital content. This expanding ecosystem has encouraged investors to search for the best cheap AI stocks to buy now.

What Really Makes an AI Stock Cheap?

A low share price does not automatically make a company undervalued. A $5 AI stock can still be expensive if the business generates little revenue, continues losing money and repeatedly issues new shares. Meanwhile, a profitable company trading above $100 may qualify as one of the best undervalued AI stocks if its earnings, cash flow and growth potential support a much higher valuation.

For this reason, experienced investors examine price-to-earnings ratios, price-to-sales multiples, revenue growth, free cash flow, debt and shareholder dilution. The strongest artificial intelligence stocks usually combine genuine AI exposure with an established business model, improving financial performance and a valuation that still leaves room for long-term growth.

Can AI Stocks Really Make Investors Millionaires?

The millionaire potential makes a powerful headline, but the mathematics should remain clear. Turning $10,000 into $1 million requires a 100-fold return. Such gains can happen, particularly among successful small-cap growth stocks, but they are extremely rare and normally require years of strong execution.

Artificial intelligence has also experienced several boom-and-bust periods known as “AI winters.” The present AI boom has much stronger commercial foundations, but revolutionary technology does not guarantee that every company will succeed. The internet changed the world, yet many internet stocks disappeared after the dot-com bubble.

How the 10 Cheap AI Stocks Were Selected

This ranking considers valuation, AI-related revenue potential, financial strength, competitive advantages, business momentum and long-term growth opportunities. Companies were penalized for continuing losses, excessive dilution, weak balance sheets, customer concentration and uncertain paths to profitability.

The final list includes AI software stocks, semiconductor companies, cloud-computing providers, automation specialists, conversational AI developers and data-center infrastructure businesses trading on the New York Stock Exchange and Nasdaq. Market prices and valuation figures are based on the latest available U.S. trading data as of September 4, 2026.

The countdown begins with the most speculative selection at No. 10 and ends with the strongest risk-adjusted AI stock at No. 1. None can guarantee millionaire-making returns, but each provides a different way to participate in the continuing artificial intelligence revolution.

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Our Methodology

To come up with our list of the 10 Cheap AI Stocks That Could Make You a Millionaire, we ranked each company based on its valuation, AI exposure, growth potential, financial strength, competitive advantages and overall investment risk.

5 Cheap AI Stocks That Could Make You a Millionaire

4. QUALCOMM Incorporated (NASDAQ:QCOM)

QUALCOMM Incorporated (NASDAQ: QCOM) ranks fourth as one of the cheapest profitable semiconductor stocks with exposure to several major AI markets. Although it remains closely associated with smartphone processors and wireless communications, management is building a much broader business covering personal computers, automobiles, industrial systems, robotics and data centers.

The company’s advantage is efficient computing at the edge. Not every artificial intelligence request can be sent to an enormous cloud server. Smartphones, computers, vehicles, cameras and robots increasingly need to process information locally. On-device AI can reduce latency, improve privacy and lower the cost of constantly transferring data to remote data centers.

Management expects non-handset operations to become a much larger part of the company. Its fiscal 2029 objectives include more than $15 billion in data-center revenue, $10 billion in automotive revenue and more than $14 billion in Internet of Things revenue. The industrial, networking and robotics portion of that IoT target is expected to contribute approximately $8 billion.

At around $168.74 per share and roughly 19.3 times trailing earnings, the stock is valued well below many prominent AI semiconductor companies. It also produces substantial profits, pays a dividend and benefits from a valuable wireless-technology licensing business.

The risk is that smartphones still represent an important source of revenue. Competition in data-center processors is fierce, and management’s 2029 targets are ambitions rather than guaranteed results. If the diversification strategy succeeds, however, investors could gain exposure to edge AI, automotive technology, robotics and data-center computing through a single relatively inexpensive stock.

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Disclosure: No material interests to disclose. This article was originally published on Global Market Bulletin.