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We recently published 10 Stocks on a Hot Streak. XPeng Inc. (NYSE:XPEV) is one of the best-performing stocks on Tuesday.

XPeng rallied to a new record high on Tuesday, as investors gobbled up shares amid significant progress in its artificial intelligence (AI) efforts following a viral video that showed its humanoid robot walking so convincingly like a human.

The video, showcased by XPeng Inc. (NYSE:XPEV) CEO Xiao Peng in a conference in Guangzhou, China last week, showed its humanoid robot called Iron walking across the stage with lifelike movements, and which sparked debate among social media users about whether it was a human in disguise. The company then cut it open to prove it was a machine.

Pixabay/Public Domain

The development forms part of XPeng Inc.’s (NYSE:XPEV) vision to deploy robots in various real-life scenarios, including factory floors and retail shops.

In other news, the company also filed an application with the Ministry of Industry and Information Technology for the launch of new variants for its G6 SUV and X9 Ultra in line with its plans to ramp up its electric vehicle offerings.

On Monday next week, XPeng Inc. (NYSE:XPEV) is scheduled to release its financial and operating highlights for the third quarter of the year, where it is expected to post total revenue growth of 94 to 108 percent year-on-year to a range of 19.6 billion to 21 billion yuan.

Additionally, it successfully recorded 116,007 vehicle deliveries during the period, marking a 149 percent jump year-on-year. The number also fell within the company’s expectations of 113,000 to 118,000 vehicle deliveries for the period.

While we acknowledge the potential of XPEV as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

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