Top 10 AI Stocks on Latest News and Analyst Ratings

4. Coherent Corp. (NYSE:COHR)

Number of Hedge Fund Holders: 51

Coherent Corp. (NYSE:COHR) is a leader in optoelectronic devices and technology. In particular, its Datacom transceivers have been valuable for data-center connectivity. The company has recently announced signing a preliminary memorandum of terms (PMT) with the U.S. Department of Commerce under the CHIPS and Science Act for a proposed investment of up to $33 million that will allow it to modernize and expand its Texas facility. The agreement will allow the expansion of the world’s first 150 mm indium phosphide (InP) manufacturing line by adding advanced wafer fabrication equipment to produce InP devices at scale. InP optoelectronic devices are extensively used in applications such as datacom and telecom transceivers for AI infrastructure applications. Increasing the production of these devices will allow the U.S. to advance supply chain resiliency and technological leadership, creating 70 direct jobs in the process.

“This proposed investment allows Coherent to accelerate our industry leadership in InP technology and manufacturing. We are very excited to partner with the U.S. Department of Commerce, Senator John Cornyn, the state of Texas, and the Sherman Economic Development Corporation as we expand our efforts to deliver world-class optoelectronic products as part of the AI infrastructure build out, as well as for advanced sensing applications.”

-Dr. Giovanni Barbarossa, Chief Strategy Officer and President, Materials Segment, for Coherent.