3 Artificial Intelligence (AI) Stocks I’d Buy Without Hesitation in a Market Crash

Artificial intelligence (AI) isn't just a fad. The technology is reshaping the world, and many corporations are helping power this revolution. However, investors chasing life-changing returns have bid up shares of many AI companies, some of which, despite having highly promising prospects, have become too expensive.

In fact, the entire market is arguably overvalued, at least as measured by metrics such as the S&P 500 Shiller CAPE ratio, which is near its highest levels since before the dot-com bubble burst. We may eventually experience a bear market as a result, and if we do, there are three stocks I can't wait to buy on the dip: Space Exploration Technologies (NASDAQ:SPCX), Tesla (NASDAQ:TSLA), and CoreWeave (NASDAQ:CRWV). Here is why.

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1. Space Exploration Technologies

Space Exploration Technologies is best known for revolutionizing space travel. The company helped pioneer reusable rocket technology, thereby significantly reducing launch costs. However, SpaceX's AI business, which it recently renamed Super Intelligence (SI), has arguably been more impressive than its space business since it went public in June.

In the third quarter, SpaceX's revenue increased by 161% year over year to $14.6 billion. Space revenue grew 6% year over year to $1.8 billion, while SI revenue soared 830% year over year to $7.6 billion. The company's connectivity revenue was $5.2 billion, up 69.5% year over year.

So, SI now accounts for more than half of the company's revenue and is growing much faster than other business segments. It is also profitable. SI operating income for the period was $431 million, significantly better than the operating loss of $1.7 billion reported in the year-ago period.

SpaceX's space business isn't profitable, though its connectivity business is. But SI could remain the main growth driver, as SpaceX is experiencing outstanding demand for AI compute capacity.

However, the stock remains fairly expensive -- it is trading at 50.8x forward earnings, and there is significant uncertainty ahead, including with the company's development of its next-gen rocket, Starship, which could support many of its AI-related ambitions.

The business looks promising, but it is too risky at current levels. If the stock falls at least 25%, I'd buy without a second thought.

2. CoreWeave

CoreWeave, a neocloud company, is also seeing booming demand for its services. Second-quarter revenue grew 112.5% year over year to $2.6 billion, while its revenue backlog was $104 billion, up 245.5% compared to the year-ago period. The problem is that CoreWeave is spending significant sums to keep purchasing AI infrastructure.

The company's debt has ballooned as a result, while operating and net losses are worsening year over year. In the second quarter, CoreWeave posted an operating loss of $49 million, down from the operating income of $19 million reported in the year-ago period. Its net loss per share widened to $1.14, compared with $0.60 per share in the prior-year quarter.

CoreWeave has raised more than $30 billion this year. Perhaps that won't be a problem for the company as long as AI spending continues to grow unabated. But if it doesn't, the company could be in trouble.

My view is that CoreWeave is an attractive AI stock, but the mounting debt and customer concentration -- a single customer accounted for 67% of its revenue in 2025 -- leave little room for error at current levels. Investors with an appetite for risk may still consider initiating a small position in the company, but I'd feel even more comfortable doing so if the stock loses 15% to 20%.

3. Tesla

Tesla is a different kind of AI company. It doesn't offer AI compute capacity like CoreWeave and SpaceX, but the technology has become central to its future. Tesla has several AI-heavy projects, including its robotaxi and humanoid robot ambitions. AI helps the company train its self-driving vehicles, and it could also allow Tesla to improve its Optimus robots.

There might be a large market in both cases. Provided Optimus robots are as advanced as Tesla wants them to be, they could be in high demand in factories and warehouses and eventually make their way into the home.

Meanwhile, Tesla's robotaxi business could generate significant profits at scale. However, there is plenty of uncertainty. Regulators will have their say in both markets, and the public may not adopt these technologies to the extent Tesla hopes. Could the business still perform well over the long run?

Absolutely, but to be as sure as possible that I'd earn juicy returns, I'd like to buy the stock at a much lower price -- Tesla is currently trading at 163.2x forward earnings. I'd happily initiate a position in a bear market.

Prosper Junior Bakiny has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Tesla. The Motley Fool recommends Space Exploration Technologies. The Motley Fool has a disclosure policy.