10 Best AI Stocks to Buy According to Reddit

6. Rocket Lab USA Inc. (NASDAQ:RKLB)

Number of Hedge Fund Holders: 16

Rocket Lab USA Inc. (NASDAQ:RKLB) is a space technology company that uses AI to optimize its end-to-end space solutions. It also has a semiconductor division that is focused on compound semiconductors, poised to accelerate AI advancements. The company has received a boost from the US government with a $23.9 million grant. This funding will be utilized to enhance its compound semiconductor manufacturing capabilities at its Albuquerque, New Mexico facility. These semiconductors are crucial for developing advanced space-grade solar cells that power satellites.

The solar cells produced by the company leverage optoelectronic technology, enabling them to perform computations using light instead of electricity. This makes them highly efficient for powering AI-intensive applications in space. This technological advancement aligns perfectly with the growing demand for AI-powered solutions in various sectors, including space exploration.

This investment will also create 100+ new manufacturing jobs in New Mexico, contributing to local economic growth and workforce development. With the increasing demand for satellite applications across various sectors, including military, surveillance, scientific research, and commercial endeavors, Rocket Lab USA Inc. (NASDAQ:RKLB) is well-positioned to grow.