33 Most Important AI Companies You Should Pay Attention To

9. Celestica Inc. (NYSE:CLS)

Number of Hedge Fund Holders: 38 

YTD Return as of August 1: 85%

Celestica Inc. (NYSE:CLS) offers a range of product manufacturing and related supply chain services. It is playing the AI market through the manufacture and marketing of connectivity products for AI data centers, which include 400G and 800G switches, and storage solutions. Mega customers like Google and Amazon are building their AI computational capacity by investing in these connectivity solutions. The annual revenue of the firm is estimated to be around $8 billion this year, the highest it has been in over a decade. The revenue from generative AI and machine learning for the company comprises over $1.2 billion, more than triple from 2022, before the AI wave swept the market.

In the second quarter earnings call, Rob Mionis, the CEO of Celestica Inc. (NYSE:CLS), noted that there was strong demand for the Hardware Platform Solutions marketed by the firm, comprising storage, compute, and networking products. This healthy demand, likely to increase in the coming months as hyperscalers invest in AI data centers, had helped the firm post a more than 50% year-to-year increase in connectivity revenues in the second quarter.