We recently published a list of 15 Trending AI Stocks on Latest News and Analyst Ratings. In this article, we are going to take a look at where ON Semiconductor Corporation (NASDAQ:ON) stands against other trending AI stocks on latest news and analyst ratings.

OpenAI, the AI startup of ChatGPT fame, recently urged the United States government and allies to come together to develop the AI infrastructure needed to compete with China. According to a report published by Bloomberg, the startup has said that the US and neighboring countries should form a North American Compact for AI that can streamline access to talent, financing and supply chains for building out the technology. The company further added this collaboration could later expand to include a global network of US allies and partners, including countries in the Middle East.

Read more about these developments by accessing 10 Best AI Data Center Stocks and 10 Buzzing AI Stocks According to Goldman Sachs.

At an event hosted by the Center for Strategic and International Studies in Washington, the startup issued a new policy blueprint, saying that the US should backstop energy infrastructure projects by committing to purchase power from them. The company further urged the US to establish AI Economic Zones that speed up the permitting process and help bring nuclear reactors back online. It also proposed expanding nuclear energy capacity by tapping the US Navy, which has built compact reactors to power submarines. The company is already working with Microsoft to set up an AI fund needed to develop AI chips, energy and data centers.

READ ALSO: 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 semiconductor engineer in a state-of-the-art laboratory, analyzing advanced semiconductor products.

ON Semiconductor Corporation (NASDAQ:ON)

Market Capitalization: $29 Billion   

ON Semiconductor Corporation (NASDAQ:ON) provides intelligent sensing and power solutions in the United States and internationally. The firm markets innovative power supply solutions used to power high-density servers that can handle the larger data loads and intense power consumption required to power many Gen-AI applications and tools. For example, the multiphase controllers of ON are able to accurately and quickly supply power to all server racks in AI data centers, making them more energy efficient compared to competitors. On November 11, Loop Capital analyst Gary Mobley initiated coverage of the stock with a Buy rating and $95 price target. The company has been a consensus short since late 2023 or once automotive tier-one names began bringing down days of inventory held amid a backdrop of flattening light vehicle production, the advisory told investors in a research note. While cyclical headwinds may limit ON’s bounce off the bottom, however, the advisory believes that investors should overweight stocks with high exposure to the automotive end market and overweight the companies exposed to the fastest growing automotive trends like powertrain electrification and AD/ADAS.