3 Incredible Growth Stocks to Buy Now

The market is not only technically overbought at this time, but arguably on shaky fundamental ground. High inflation is slowly chipping away at the economy, and the steep valuations of artificial intelligence (AI) stocks that performed so well when the AI revolution was still young are now being questioned.

Nevertheless, there are compelling growth stocks out there. You just might need to dig a little deeper than you normally would to find them. Here are three suggestions to get your search started.

Image source: Getty Images.

Plug Power

For the entirety of Plug Power's (PLUG +0.00%) 29-year existence, it's been unprofitable, and increasingly so. For most of this time, plenty of observers wondered why the hydrogen fuel cell company was so willing to stick with what seemingly looked like a lost cause.

Now we know. This technology is finally moving into the mainstream, offering the company a chance to reach enough scale that profitability is at least possible.

What's a hydrogen fuel cell? In simplest terms, it's an electrolyte membrane that splits hydrogen molecules into positively and negatively charged protons and electrons. These cells can be used to power anything from small vehicles to buildings, including data centers. For most of this technology's existence, its stumbling block was just a lack of acceptance stemming from a lack of understanding, and the fact that pure hydrogen isn't exactly cheap or easy to procure.

That's changing, though. As with any other new technology that the world wasn't quite ready to embrace in its infancy, the hydrogen industry -- including Plug Power -- is addressing its own biggest impediments. For instance, the company now makes and markets electrolyzers that split ordinary water into oxygen and hydrogen. It also simply sells hydrogen, and even sells electricity produced by its own equipment.

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NASDAQ: PLUG

Plug Power

Today's Change

(0.00%) $0.00

Current Price

$2.64

Key Data Points

Market Cap

$3.7BMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.Market cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.

Day's Range

$2.58 - $2.74

52wk Range

$1.39 - $4.58

Volume

3.7M

Avg Vol

73.7M

Gross Margin

-2565.51%

Moreover, this approach is working. Although Plug Power won't be out of the red and in the black in the immediate future, last year's net loss was 20% less than 2024's loss even as 2025 revenue grew 13%. Give credit to its higher-margin profit centers like power purchase agreements and the sale of raw hydrogen, mostly, which are expanding to make up more and more of its total top line. At its current rate, the company expects to swing to a profit by late 2028.

As for the underlying tailwind, Precedence Research predicts that the global hydrogen business will double in size by 2035, while the fuel cell market itself could grow at an average annual pace of 25% in the same timeframe.

ServiceNow

It's not too difficult to figure out why ServiceNow (NOW +1.53%) shares have been nearly halved over the course of the past year. Although it was one of the companies that helped usher in the era of automation of computer-based tasks, the very same rise of artificial intelligence it helped drive now poses an existential threat. That is, anyone can use AI to create their own automation solutions -- often for free.

But it's becoming clear that many of these solutions don't provide the same reliability or functionality as ServiceNow's apps, which were coded from the ground up to excel at a particular task.

The irony is that although most investors may not believe AI-powered coding agents are all that great, most of ServiceNow's paying customers obviously do. Its first-quarter non-GAAP revenue of almost $3.7 billion was up 19% year over year, with the bulk of that coming from subscriptions with a renewal rate regularly at or above 97% through the first quarter.

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NYSE: NOW

ServiceNow

Today's Change

(1.53%) $1.63

Current Price

$107.95

Key Data Points

Market Cap

$111BMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.Market cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.

Day's Range

$103.50 - $110.63

52wk Range

$81.24 - $210.20

Volume

14.5K

Avg Vol

29.8M

Gross Margin

76.56%

The company is looking for similar results through the remainder of the year as well. Given that it's regularly rated as a leader of Gartner's rankings of all the enterprise application developers, this double-digit growth pace could easily persist well into the future.

This might help. Although investors as a whole clearly aren't too hopeful, the vast majority of analysts covering this stock currently rate the stock as a strong buy, with a consensus target of $140.38, which is more than 30% above this ticker's present price.

Marvell Technology

Last but not least, add** Marvell Technology** (MRVL +1.81%) to your list of growth stocks to buy now, while it's down 20% from its late June peak. Marvell makes computing hardware, largely for data centers. This includes switches, Ethernet controllers, digital signal processors, storage interfaces, and, increasingly, even computing processors.

It's not the only name in any of its businesses. It competes with** Broadcom** on the networking front, and of course, Nvidia remains the leader of the AI compute market. That market is slowly opening up to other options, though. Due to a combination of costs and the need for more specific solutions, newcomers are coming to the table.

For instance, after developing high-performance processors for its own internal uses, e-commerce outfit Amazon is now entertaining the idea of selling these so-called Trainium chips to third-party customers outside of its AI data center ecosystem. That would put it into a business which Precedence Research believes will grow at an average annual pace of 25% per year through 2035, when it will be worth $550 billion. It's a particularly relevant development to Marvell Technology, simply because it helped design Amazon's Trainium processors.

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NASDAQ: MRVL

Marvell Technology

Today's Change

(1.81%) $4.43

Current Price

$249.72

Key Data Points

Market Cap

$218BMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.Market cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.

Day's Range

$249.11 - $260.49

52wk Range

$61.44 - $329.88

Volume

15.1K

Avg Vol

42.9M

Gross Margin

50.64%

Dividend Yield

0.10%

This is just one example of how Marvell can capitalize on the always-evolving artificial intelligence market, of course. Investors won't necessarily need to wait for this sort of specialty design work to start paying off, either.

Last year's top line improved by more than 40%, pushing the company out of the red and well into the black. Analysts are looking for similar revenue growth this year and next, more than doubling per-share profits in the process. Despite the pessimistic rhetoric surrounding its practicality, nobody actually seems to think demand for more AI infrastructure is going to slow down anytime soon.