10 AI Stocks Analysts Are Watching: Latest Ratings and News

6. Lam Research Corporation (NASDAQ:LRCX)

Number of Hedge Fund Holders: 58

Lam Research Corporation (NASDAQ:LRCX) is a semiconductor stock that offers semiconductor equipment and services used in the making of integrated circuits. On February 12, U.S.-based chip toolmaker company Lam Research announced that it will be investing over 100 billion rupees ($1.2 billion) over the next few years in India’s southern Karnataka state. The move marks the latest push toward India’s plans to strengthen its semiconductor ecosystem.

Lam Research reported signing a memorandum of understanding (MoU) with the Karnataka Industrial Area Development Board (KIADB) for the investment during an ‘Invest Karnataka’ event. According to India’s IT minister, Lam Research’s investment is “one more milestone” in the country’s semiconductor journey. Global chip firms are increasingly investing and setting up facilities in India as the country races to build up its semiconductor industry. The country expects its semiconductor market to be worth $63 billion by 2026.