Top 10 AI Stocks to Watch Amid US-China AI War

3. Eaton Corporation plc (NYSE:ETN)

Number of Hedge Fund Holders: 90

Eaton Corporation plc (NYSE:ETN) is a Specialty Industrial Machinery company that offers electrical, aerospace, vehicle, and eMobility solutions. RBC Capital Markets analysts reiterated that the stock was a buy on February 3rd but cut the price target to $405 from $407.  The Buy rating comes on the heels of growing expectations that an artificial intelligence-related data center boom will trigger significant demand for electrical equipment.

Likewise, Eaton Corporation plc (NYSE:ETN) is expected to be one of the biggest beneficiaries as a key supplier of electrical components, industrial components, power distribution and assemblies. A few years back, Eaton electrical equipment was just another equipment for a utility, office building, or warehouse. That has since changed as its equipment has become an essential puzzle amid the explosive growth of data centres needed to power the AI revolution. While the company has added over $100 billion in market value since 2019, most of it has come over the past two years from the company benefiting from the AI boom.