30 Most Important AI Stocks According to BlackRock

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11. NXP Semiconductors N.V. (NASDAQ:NXPI)

Number of Hedge Fund Holders: 52     

NXP Semiconductors N.V. (NASDAQ:NXPI) makes and sells various products related to semiconductors. Latest reports indicate that the European Commission has approved the construction of a new microchip manufacturing plant in the German city Dresden. The plant will cost $5.5 billion and will be built as a joint venture between Taiwan Semiconductor Manufacturing, NXP Semiconductors, and Infineon Technologies. The project mainly aims to serve chip demand for automotive and industrial applications. These two sectors have witnessed a surge in AI chip demand as AI drives revolutions in driving and automation.

NXP Semiconductors N.V. (NASDAQ:NXPI) is viewed with guarded optimism on Wall Street. TD Cowen recently lowered the price target on the stock to $310 from $330 and kept a Buy rating, noting that the slope of the recovery for the firm was disappointing, but stock reaction felt overblown, amplified by a view of investors that the shares were a place to hide within choppy broad-based semis.

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