1 Chip Manufacturing Stock Making a Big Bet on AI
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Japanese chip manufacturer Renesas is making a big bet on the next generation of computing by acquiring design software provider Altium. Renesas, known for its hybrid business model of designing and manufacturing semiconductors, aims to boost its software and digital tool capabilities to cater to non-tech customers implementing next-gen electronics. The acquisition of Altium, despite its small revenue of $139 million, comes at a hefty price premium of $6 billion. Renesas sees the opportunity to embed AI in devices themselves, which will require more sophisticated and energy-efficient hardware. The company could become a hidden growth stock in the AI race.

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https://www.fool.com/investing/2024/04/07/1-chip-manufacturing-stock-making-a-big-bet-on-ai/