Blackrock’s 30 Most Important AI Stocks

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

Number of Hedge Fund Holders: 44     

NXP Semiconductors N.V. (NASDAQ:NXPI) makes and sells various products related to semiconductors. This company stands out as a worthwhile investment due to a combination of favorable factors. Firstly, as per the report of the third quarter of 2024, cash flow from operations was $779 million, with net capex investments of $186 million, resulting in non-GAAP free cash flow of $593 million. NXP continues to execute its capital return policy with the payment of $259 million in cash dividends during the time and the repurchase of $305 million of its common shares. Secondly, the company’s collaboration with NVIDIA enables NVIDIA’s trained AI models to be deployed on NXP’s broad portfolio of edge processing devices through the eIQ machine learning development environment. Notably, NXP is the first semiconductor vendor to integrate the NVIDIA TAO APIs directly within an AI enablement offering to make it easier for developers to deploy trained AI models at the edge.

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