35 Chip Stocks Powering AI Boom

12. Amphenol Corporation (NYSE:APH)

Number of Hedge Fund Holders: 72 

Amphenol Corporation (NYSE:APH) primarily designs, manufactures, and markets electrical, electronic, and fiber optic connectors. It has a range of product offerings for AI firms, including chipsets, networking products, and server and GPU solutions. The firm also markets high speed power connectors used in data centers that compute AI tasks for large software firms. NVIDIA is one of the largest customers of the company and recent reports that the chipmaker may be forced to redesign the GB200 platform because of overheating issues has caused concern around Amphenol revenues. The latter provides flyover cables for the GB200 that may be replaced by circuit boards in newer models of the platform as NVIDIA fixes heating issues.

Adam Norwitt, the CEO of Amphenol Corporation (NYSE:APH), commented during the second quarter earnings call that between March and June, bookings for the firm were particularly strong from IT datacom customers focused on artificial intelligence, even though traditional datacom orders also saw a nominal increase. Norwitt added that his firm expected to grow sales in the datacom segment during the third quarter as customers flocked towards the leading high-speed and power interconnect products manufactured by the company.