We recently published a list of 14 Trending AI Stocks on Latest Ratings and News. In this article, we are going to take a look at where Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) stands against other trending AI stocks on latest ratings and news.
AI startups have raised hundreds of millions through funding rounds this year and fetched valuations in the billions. Most of these startups are software companies working on expanding AI use cases. In the midst of this AI boom, BrightAI, an AI startup that focuses on the physical aspect of the AI business, is now making waves on Wall Street. Founded by Alex Hawkinson, an entrepreneur and investor with a proven track record in the tech world, the company offers an end-to-end tech platform that uses sensors to help companies monitor physical assets. These sensors send data to an AI algorithm that processes it and can help predict potential issues before they arise.
Read more about these developments by accessing 10 Best AI Data Center Stocks and 10 Buzzing AI Stocks According to Goldman Sachs.
Tech news website TechCrunch reports that the startup first launched this product in 2023. Since then, the firm has managed to attract seven large enterprise customers across six verticals, including HVAC, waste management, and power. It has deployed more than 250,000 sensors and has reached $80 million in revenue. These figures are impressive since the startup managed to do this without raising any outside capital. However, the firm is now looking to expand and recently raised more than $15 million in a funding round led exclusively by Los Angeles-based Upfront Ventures.
Read more about these developments by accessing 30 Most Important AI Stocks According to BlackRock and Beyond the Tech Giants: 35 Non-Tech AI Opportunities.
For this article, we selected AI stocks by combing through news articles, stock analysis, and press releases. These stocks are also popular among hedge funds.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).
A close-up of a complex network of integrated circuits used in logic semiconductors.
Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)
Number of Hedge Fund Holders: 158
Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) makes and sells integrated circuits and semiconductors. On November 19, news publication Bloomberg reported that plans by Chinese tech giant Huawei to develop more powerful chips for AI and phones are facing hurdles due to the US export curbs. In the past few weeks, the US has asked large chip firms like TSM to halt production of advanced AI chips for Chinese firms. TSM has complied with the US demands so far. TSM is marketing 2nm chips that are three generations ahead of present Huawei chips, per the report.
Overall, TSM ranks 6th on our list of trending AI stocks on latest ratings and news. While we acknowledge the potential of TSM as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than TSM but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock
Disclosure: None. This article is originally published at Insider Monkey.
