AI Stocks: Top 13 for Growth Potential | [Year]

The year 2025 is the next stage of the AI ​​boom, which has pushed semiconductors to record levels. Global chip sales are expected to reach USD 697-701 billion (+11% y/y), and AI-related systems will generate over USD 150 billion in revenues, exceeding 20% ​​of the entire market. An additional accelerator is TSMC‘s strong guidance (over 30% growth in USD), and the technology sector in the S&P 500 has accelerated thanks to AI and semiconductors. Hyperscalers (Microsoft, Amazon, Google, Meta, Oracle) are expected to triple their investments in AI to USD 450 billion by 2027 from USD 150 billion in 2023. The leading trends include accelerated implementation of data centers, on-device AI in smartphones and PCs, the development of co-packaged optics and the race for custom silicon for hyperscalers.

“The real use of AI in companies is still low, but listed companies are above average” – Tomasz Sobol, OVHcloud

We did a market scan using Saxo Bank’s scanner available on their platform after registration. We sorted the companies, starting with the highest growth potential and taking into account the positive tone of the recommendations. Below we provide descriptions based exactly on the information provided.

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NVIDIA Corp. – DGX Spark and ecosystem expansion

In mid-month, the company showed DGX Spark – the world’s smallest AI supercomputer with 1 petaflop power and 128 GB of unified memory. The equipment allows you to locally test models with up to 200 billion parameters, democratizing access to AI infrastructure. Jensen Huang handed the first copy to Elon Musk at SpaceX.

Shortly before this, Spectrum-X switches were announced to accelerate networks for Meta and Oracle. Meta uses Spectrum-X to reduce congestion and provide predictable performance in AI clusters of over 100,000. GPU. Oracle is incorporating Spectrum-X into Oracle Cloud Infrastructure to offer customers the most efficient Ethernet networks for AI.

At the beginning of the month, cooperation with Fujitsu was extended. Japanese enterprises will receive the full NVIDIA AI Enterprise stack, and a new line of servers on the NVIDIA MGX platform will be offered.

In the first half of the month, Bank of America Merrill Lynch raised its price target to a record high on Wall Street, pointing to continued demand for the Blackwell platform outpacing supply. NVIDIA remains the leader with 87% of the AI ​​chip market, and the combination of Blackwell and DGX Spark opens up further paths to monetization of the ecosystem.

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Astera Labs Inc. – Joining Arm Total Design

In mid-month, the company joined the Arm Total Design ecosystem. Its Intelligent Connectivity Platform has been integrated with Arm Neoverse™ CSS to accelerate the development of custom solutions for rack-scale AI infrastructure.

Arm Total Design brings together leading providers of IP, EDA tools and design services, making it easy to create SoCs based on Arm Neoverse CSS. Astera brings an Intelligent Connectivity platform (PCIe, CXL, Ethernet) optimized for compute-intensive systems.

A few days earlier, Forbes reported that co-founders Jitendra Mohan and Sanjay Gajendra had joined the ranks of billionaires. In 2025, the price more than doubled and the capitalization exceeded USD 24 billion. A little later, a correction appeared – according to analysts, it was profit-taking and concerns about valuation. Despite this, Astera is considered the “quiet winner of AI Infrastructure 2.0”.

Microchip Technology – Post-quantum security

In October 2024, the company presented PIC64HX microprocessors with support for post-quantum security. Based on RISC-V, 64-bit MPUs address the intelligent edge, offering, among others: TSN Ethernet switching and AI features.

In December 2024, the revenue forecast for the fourth quarter was lowered to approximately USD 1.025 billion, and CEO Steve Sanghi announced the closure of the Fab 2 plant in Tempe by September 2025, which is expected to bring savings of USD 90 million annually. The company received the Cisco 2024 Emerging Supplier of the Year distinction and continues to invest – USD 58.4 million for R&D in the third quarter.

Challenges include high inventories and weaker turnover in industry and automotive. The beginning of 2025 is expected to bring stabilization of the cycle in these segments.

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Credo Technology Group – Hyperlume acquisition and optical offensive

This month, during the OCP Global Summit, the company presented ZeroFlap transceivers for AI networks with speeds of 400G, 800G and 1.6T, focusing on reliability and energy efficiency.

The acquisition of Hyperlume, a specialist in MicroLED-based optics, has been closed – this strengthens Credo’s system capabilities. Roth Capital raised its price target to $170 (from $160), indicating diversification potential and better technology for top speeds.

The company also joined Arm Total Design. William Blair started coverage with a positive recommendation, pointing to expansion into Ethernet AEC and optics with Dove and Lark DSP products against the backdrop of the $7 billion data center optics market.

A few days ago, JP Morgan listed Overweight at a price of USD 165 (approx. +5% potential). At the same time, the price increased by 5.13%, and the week closed with a result of +5.91%. Earlier in the month, a $750 million equity offering and shelf registration (equity, preferred stock, debt, warrants) was announced – fuel for expansion and innovation.

Fiscal year 2025 (ended in May) brought USD 436.8 million in revenue (more than doubling y/y) and USD 52.2 million in net income. Analysts expect sales to double again in fiscal 2026, to almost $1 billion.

MaxLinear Inc. – Win against Pegatron and 5G Open RAN

Earlier this month, Pegatron selected the MaxLinear Sierra single-chip Radio SoC for its new PR2850 5G Macro Open RAN unit. Sierra combines RF transceivers, a digital front-end and an O-RAN Split 7.2x fronthaul interface.

Such a contract strengthens the company’s position in the maturing 5G ecosystem and increases the attractiveness of O-RAN-compliant solutions. In July 2025, MaxLinear introduced the Panther V storage accelerator – it is an opportunity to diversify revenues and go deeper into the enterprise and hyperscale data center.

In the second half of the month, the company plans to publish results for the third quarter of 2025. Forecasts for 2028: USD 630.9 million in revenues (CAGR 18.6%). Fair valuation $19.85 – approximately +17% from current price. Risk: pressure on margins in a commoditized environment. The company focuses on broadband, mobile, wireline infrastructure, data centers and industry.

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Ceva Inc. – Q3 results reports in November

Earlier this month, it was announced that third-quarter 2025 results would be released in November – before the opening of the NASDAQ. The conference call is scheduled for morning ET.

In the first quarter of 2025, revenues amounted to USD 24.2 million (+10% y/y). 11 license agreements were concluded, including: Wi-Fi 7 with a long-standing connectivity client and edge AI NPU for automotive. In April 2025, Nextchip selected NeuPro-M NPU for next-generation ADAS.

Ceva provides IP (silicon and software) for Smart Edge – connectivity, sensing, inference. Key lines: 5G/5G-A baseband (PentaG2), edge AI (NeuPro), Wi-Fi 7, Bluetooth and other standards.

In the second half of the month, six brokerages maintained their average rating of “Moderate Buy” with a target price of $35.60 (+23.31%). Capitalization USD 636 million, forecast EPS for the current year: −USD 0.12.

Ambarella Inc. – Record growth in AI SoC revenues

In the second quarter of fiscal 2026 (ended July 2025), the company achieved $95.5 million in revenue (+49.9% y/y). For the six months to the end of July: USD 181.4 million (+53.5% y/y).

CEO Fermi Wang: “We are experiencing strong secular growth in the edge AI market, with a growing range of applications driving unit demand, often with our higher-priced 5nm AI SoCs. A variety of portable AI video applications have reached production status, and we expect the first production deliveries for robotic aerial drones by the end of fiscal 2026.”

The outlook for FY2026 was raised to 31-35% growth (approx. USD 379 million in the middle of the range) – indicating record quarterly and annual results. More than 36 million edge AI processors have already been shipped. The company focuses on customers in the edge AI segment, including automotive.

Last week, the price increased by 13.4% and year-on-year by 41.9%. Valuation Tight – 0/6 in classic undervaluation tests, suggesting some momentum is in the price.

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MACOM Technology Solutions – 3.2T optical na ECOC 2025

At the turn of September and October, MACOM presented in Copenhagen 3.2T transmission (400G per lane), 1.6T (200G per lane) and PCIe 6.0 Optical technologies for low-latency and long-range applications.

The 100G LPO ecosystem (interoperability of the complete 100G/track solution without DSP with leading suppliers) and SFP112 Fronthaul (the full SFP112 LPO solution for fronthaul) were shown. In mid-month, analysts pointed out that the 3.2T demonstration may change the company’s investment case – this is a strong signal for data centers, AI/ML and telecoms.

In November 2024, MACOM announced that it will lead a GaN-on-SiC technology development project for RF and microwaves funded by the CHIPS and Science Act (US DoD). First-year contract: USD 3.4 million.

Forecasts until 2028: USD 1.2 billion in revenues and USD 586.5 million in profits (CAGR 11.2%). Fair valuation $149.29 – approximately +17%.

Silicon Laboratories – Works With 2025 w Austin

Earlier this month, the flagship Works With 2025 conference took place in Austin – a key IoT event for developers, device manufacturers, wireless experts and business leaders. Speakers include: Jamie Siminoff (Founder of Ring, VP Product for Home Security at Amazon), Jay Desai (GM of Amazon Sidewalk), Robert Metcalfe (co-inventor of Ethernet, Turing Award winner) and Matt Johnson (CEO of Silicon Labs).

The panels included: design with Amazon Sidewalk, 802.15.4 in the enterprise (Cisco’s perspective), Matter – the path to a smart home (CSA, Samsung SmartThings, Amazon), Matter for smart energy (CSA, Siemens) and Wi-SUN (Wi-SUN Alliance, Digi).

A few days later, the publication of results for the third quarter of 2025 was announced in early November. The company positions itself as a leader in low-energy wireless connectivity for smart home, IoT, smart cities and commercial and industrial environments.

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Qualcomm Inc. – Acquired Arduino and Snapdragon 8 Elite Gen 5

The company announced the acquisition of Arduino, a popular open-source platform used by millions of creators, engineers and students. The transaction is expected to accelerate developers’ access to IoT and AI technologies, strengthening Qualcomm’s position in edge computing and robotics.

At the end of last month, during the Snapdragon Summit, the AI ​​strategy for smartphones and PC was presented. CEO Cristiano Amon outlined a vision of an “intelligent user ecosystem” in which devices with sensors and cameras will allow AI to see, hear and understand its surroundings.

The key product is Snapdragon 8 Elite Gen 5 – the flagship chipset with true on-device Generative AI. Compared to its predecessor: +37% performance in AI tasks and 35% better power management. The modernized Hexagon NPU can handle LLM up to 10 billion parameters.

On PC, Snapdragon X2 is the second generation with on-device Gen AI. NPU 80 TOPS exceeds current offerings from Intel and AMD. Qualcomm brought the Oryon architecture, previously present in laptop systems, to mobile chips. According to Canalys, 54% of smartphones will be equipped with AI capabilities in 2028 (CAGR 63%), and Qualcomm remains a key supplier for the Android world.

ON Semiconductor Corp. – A downward cycle with hope for a rebound

For 2025, S&P Global Market Intelligence predicts a 17% revenue decline (SiC −18%, non-SiC −17%). All three units – Power Solutions, Advanced Solutions and Intelligent Sensing – are expected to record double-digit discounts.

Net profit is expected to decline by 92% to EUR 120 million, and diluted EPS to EUR 0.48 from EUR 3.63 a year earlier. However, a strong recovery is expected in 2026: net profit >7x to EUR 1.1 billion and EPS EUR 2.67 – along with the recovery of end markets and the effects of efficiency measures.

In January 2025, the company purchased SiC JFET technology from Qorvo (power for EV, renewable energy and AI data centers). In September 2025, it announced the acquisition of Vcore Power Technologies from Aura Semiconductor, expanding its AI data center offerings.

In October 2024, the stock rose 9.9% on a wave of positive sentiment in semiconductors when Broadcom announced a partnership with OpenAI on custom AI accelerators. The “Fab Right” strategy is intended to optimize production and inventory control.

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Silicon Motion Technology – Cel 1 mld USD run rate

In Q2 2025, revenues amounted to USD 198.7 million (+19.3% q/q). Gross margin 47.7% – guidance ceiling. Profit per ADS: USD 0.69.

CEO Wallace Kou: “We are confident that we will emerge from 2025 with an annual revenue run rate of $1 billion.” For the third quarter of 2025, the company forecasts USD 219-228 million (+10-15%).

The results for the third quarter of 2025 are scheduled to be published at the end of the month, followed by a teleconference a day later. The main driver of growth is the demand for PCIe 5 SSD controllers. Gross margin is growing for the sixth quarter in a row, and revenues from NAND producers are over 60% higher y/y. New: SM2508 Gen5 controllers and MonTitan class solutions.

Shares: YTD +72.3%, y/y +74.2%, in five years +166.7%. Tight Valuation – 0/6 in classic undervaluation tests. CFO Jason Tsai announces further investments and numerous tape-outs next year (enterprise storage, more advanced geometries).

Marvell Technology – OCP 2025 i portfolio interconnect

At the beginning of the month, the company announced the presentation of achievements in accelerated infrastructure at the OCP Global Summit (San Jose). AI has become the new center of gravity of data center architectures, and the scale and complexity of systems goes beyond traditional paradigms.

Marvell develops custom silicon, chiplet integration, next-generation memory and tightly integrated connectivity – from server to rack to entire campuses and multi-site topologies – to benefit time-to-deployment, power consumption and cost-per-bit.

OCP (stand B1) showed, among others: co-packaged copper system with a 2.5-meter DAC, co-packaged optics switch, Structera CXL near-memory acceleration, Alaska P PCIe 6 retimer over cable for AI scale-up, 800G/1.6T AEC for scale-up/out and Ara 200G/lambda 1.6T PAM4 optical DSP for scale-out.

At the same time, at the turn of September and October during ECOC in Copenhagen, the company presented a wide interconnect portfolio for AI implementations in data centers. A few days ago, analysts highlighted growing revenues and momentum in the DC business. The price is +28% in the last month, +18% in the quarter, and the three-year return exceeds 130%.

Hyperscalers, new chips, optics – what’s next for the market until 2026

Very specific signals are flashing on investors’ radar today. NVIDIA opens the door to AI supercomputers with DGX Spark – effectively democratizing computing power. Astera Labs is jumping into the Arm Total Design ecosystem, which should accelerate the development of custom layouts for data centers. Credo adds its own touch to the optical layer, showing ZeroFlap and completing the Hyperlume takeover. In turn, MaxLinear delivers business – it wins at Pegatron on the Sierra SoC radio for 5G Open RAN. MACOM demonstrates 3.2T optical at ECOC, and Qualcomm plays two pianos at once: announces Arduino acquisition and introduces Snapdragon 8 Elite Gen 5.

The macro backdrop remains favourable. Global semiconductor sales are expected to reach USD 697-701 billion in 2025, which means 11% year-on-year growth. TSMC raises guidance to mid-30% in USD, confirming that demand for AI infrastructure is not a temporary spurt, but a long-term investment trend. It is no coincidence that technology is gaining in the S&P 500, and AI and semiconductors are the catalyst.

On the spending side, there is an unprecedented mobilization of the largest cloud players. Microsoft, Amazon, Google, Meta and Oracle plan to invest a total of USD 450 billion in AI by 2027 – compared to USD 150 billion in 2023. This translates into pressure on every element of the stack: from computing power, through memory and packaging, to data storage. In short, the entire supply chain needs to accelerate.

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The technology compass shows several directions that will govern spending. Co-packaged optics and 800G/1.6T AEC push AI cluster scaling forward. PCIe 6.0 optical reduces distance and latency. On-device AI in smartphones and PCs is becoming a new standard for interacting with the machine. Hyperscalers are increasingly turning to custom silicon. In addition, there is post-quantum security, which is starting to become a requirement, not a curiosity.

Looking to 2026, the picture is clear. The AI ​​chip market will surpass USD 200 billion. 54% of smartphones will have AI functions – that’s a 63% CAGR. The entire semiconductor market should end the year in the range of USD 770-800 billion. The industry is on course for $1 trillion in sales by 2030.

However, there are no increases without question marks. Some segments – especially automotive and industrial – feel pressure on margins. Valuations for AI leaders are demanding. The risk of a cooling of hyperscaler spending looms on the horizon. In addition, there are geopolitical tensions in supply chains and a permanent talent shortage in semiconductors.

The balance remains positive. This is not a bubble, but a systemic transformation. Companies well positioned in AI infrastructure – from custom silicon, through the connectivity layer, to optical interconnects – have a decade ahead of them in which growth will not be the exception, but the baseline scenario.

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