Selecting some of the top hyper-growth stocks to buy now requires considering companies that operate in strong industries. In fact, you may want to look at sectors like artificial intelligence, cloud computing, and virtual/augmented reality. All of which are predicted to significantly impact the world. Although hyper-growth stocks to buy are often associated with technology, they can also be found in other sectors, such as finance and healthcare. These stocks share the characteristic of high potential for growth. Here are three hyper-growth stocks to buy that I recommend for investment.

Nio (NIO)

Nio (NYSE:NIO) has the advantage of being based in China, which provides the company with a competitive cost base and a vast local market. Its home advantage could help it in building charging infrastructure for its vehicles. Better, its battery-swapping feature addresses a key concern for electric vehicle buyers: range anxiety. Granted, other companies could potentially offer similar solutions in the future. However, Nio currently has an edge due to its innovative strategy.

Nio’s sales showed a 31% increase year over year, which indicates strong growth potential. This trend is expected to continue, especially with the Chinese economy now recovering from the pandemic lockdowns. Nio’s position as one of the largest Chinese electric vehicle (EV) companies may offer some regulatory flexibility. If government intervention is needed in the EV industry, Nio is likely to receive assistance from the Chinese government, which is looking to improve its economic prospects.

C3.ai (AI)

C3.AI (NYSE:AI) is a top pure-play company that specializes in enterprise AI and has a unique set of services. Its strategy is focused on capitalizing on the mega-trend of AI, which could accelerate its growth in the future. Analysts predict an 18% upside from its current stock price.

Although success is not guaranteed, C3.ai’s specialization in enterprise AI software provides the company with a focused business that can quickly capitalize on the AI megatrend. In fact, if AI technology delivers on its promise of improving businesses, C3.ai stock could potentially be worth much more than its current value of $20. C3.AI CEO Tom Siebel believes that the AI market is about to become a $600 billion software market, with enterprise AI applications becoming as ubiquitous as PCs. This creates an opportunity for companies like C3.ai to emerge as a top player in this space.

Snowflake (SNOW)

Based on recommendations from 31 brokerage firms, Snowflake (NYSE:SNOW) has an average brokerage recommendation of 1.71, which is between Strong Buy and Buy on a scale of 1 to 5.

The company is expected to clock healthy growth despite near-term headwinds. And, savvy investors should consider taking advantage of any potential dips. After all, the company has a multibillion-dollar opportunity that could result in annual earnings growth of 66% over the next five years. Snowflake reported a net revenue retention rate above 150% for the last five years, making it one of the top SaaS stocks to buy. It also aims to achieve $10 billion in product revenue by FY2029 and its platform capabilities are critical for any enterprise, winning customers across various industries.

On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.