10 AI News and Ratings You Should Take a Look At

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1. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Number of Hedge Fund Holders: 158

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) produces and sells integrated circuits, offers wafer fabrication, packaging, and testing services, and supports various industries, including high-performance computing and automotive.

Reuters reported on February 10 that OpenAI is advancing its plan to develop an in-house AI chip and is set to send its first design to TSMC for fabrication in the coming months. Targeting mass production in 2026, the chip will be built using TSMC’s advanced 3-nanometer process, incorporating high-bandwidth memory and networking features similar to Nvidia’s chips. The project is led by Richard Ho and developed with Broadcom and it aims to reduce OpenAI’s reliance on Nvidia. While the initial chip will primarily focus on running AI models, future iterations may expand its capabilities. Success in this effort could provide OpenAI with an alternative to Nvidia and greater control over its AI hardware.

While we acknowledge the potential of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than TSM but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap

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