Top 9 AI Stocks Making Waves Today

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1. Lumentum Holdings Inc. (NASDAQ:LITE)

Number of Hedge Fund Holders: 57

Lumentum Holdings Inc. (NASDAQ:LITE) is a communications equipment company that designs and manufactures optical and photonic products. It focuses on optical networking and commercial laser applications, with segments including Cloud & Networking and Industrial Tech. On March 26, the company affirmed its push for opportunities amid the artificial data center scalability.

Lumentum Holdings Inc. (NASDAQ:LITE) announced that its R300 optical circuit switch (OCS) 300×300 port product will be available in the second half of the year. Additionally, it confirmed that multiple hyper-scale customers are sampling the optical circuit switch due to its ability to enhance the performance and efficiency of artificial intelligence clusters and intra-data center networks.

“Lumentum has a long-standing track record of optical innovation and deep expertise in MEMS optical switching technology that provides a distinct advantage in delivering a high-quality OCS product for AI infrastructure,” said Wupen Yuen, Lumentum president of Cloud and Networking. “Feedback from customers has been very positive due to its ability to improve network reliability and performance, including substantial reductions in data center network power consumption.

While we acknowledge the potential of Lumentum Holdings Inc. (NASDAQ:LITE) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than LITE but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

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