SoFi Technologies Inc. (NASDAQ:SOFI) is one of the best AI stocks to buy according to hedge funds. On June 26, SoFi Technologies announced that the company expanded its digital financial services, particularly through new crypto-powered capabilities and blockchain innovations. This positions SoFi as a modernized financial services provider.

SoFi is relaunching crypto investing, which will allow members to buy, sell, and hold cryptocurrencies like Bitcoin and Ethereum later this year. The company also intends to offer stablecoins and services like crypto-collateralized lending and staking features over time.

A professional banker shaking hands with an entrepreneur in a boardroom setting.

Additionally, eligible SoFi Money members will be able to initiate self-serve international money transfers to dozens of countries later this year. These transfers will be fully automated within the SoFi app. The company’s financial performance over the past 3 years demonstrates significant long-term investor confidence, with a total return of 190.25%.

SoFi Technologies Inc. (NASDAQ:SOFI) provides various financial services in the US, Latin America, Canada, and Hong Kong.

While we acknowledge the potential of SOFI as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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