Top 10 AI Stocks on Latest Analyst Ratings and News

6. ON Semiconductor Corporation (NASDAQ:ON)

Number of Hedge Fund Holders: 45

ON Semiconductor Corporation (NASDAQ:ON), or onsemi, is a semiconductor manufacturing company that provides intelligent sensing and power solutions.  On January 15, the company announced that it had completed its acquisition of the Silicon Carbide Junction Field-Effect Transistor (SiC JFET) technology business. The deal, including the United Silicon Carbide subsidiary, has been made with Qorvo for $115 million in cash. The addition of SiC JFET technology will strengthen onsemi’s EliteSiC power portfolio offering high energy efficiency and power density units for AI data centers. Besides enhancing power density in data centers, the SiC JFET can also boost efficiency and safety in EV battery systems and enable certain energy storage topologies and solid-state circuit breakers.

“This acquisition further strengthens onsemi’s leadership in power semiconductors by providing disruptive and market leading technologies to our customers to solve their most pressing power density and efficiency problems in AI data centers, automotive and industrial markets. We will continue to innovate and make investments to expand our technology leadership in providing the most comprehensive power system solutions”.

-Simon Keeton, group president and general manager of the Power Solutions Group, onsemi.