33 Most Important AI Companies You Should Pay Attention To

18. KLA Corporation (NASDAQ:KLAC)

Number of Hedge Fund Holders: 58  

YTD Return as of August 1: 54%   

KLA Corporation (NASDAQ:KLAC) markets process control and yield management solutions for the semiconductor industry. The firm is poised to benefit from the CHIPS Act, a legislation that aims to jumpstart chip manufacturing in the US. It is also likely to ride the AI wave sweeping the market as companies invest in AI data centers that are based around these chips. The company is expected to market services like wafer inspection systems for advanced nodes, as well as strength in testing and packaging segments. The firm recently revealed that during the last three months of the fiscal year 2024, AI service business grew to $614 million, up 4% sequentially and 14% year over year.

Richard Wallace, the CEO of KLA Corporation (NASDAQ:KLAC), remarked during the fourth quarter earnings call that foundry logic, a continuation of scaling and incorporation of new technologies and slowly rising capital intensity continued to be a long-term tailwind for the firm. He added that In memory, technology development investments for AI, high-bandwidth memory, and the improving supply demand environment supported an expected return to growth for memory markets in 2025.