Three under-the-radar AI stocks—Dell, ON Semiconductor, and Astera Labs—positioned as next undiscovered AI plays before wider market recognition

Dell's infrastructure solutions group grew 40% last fiscal year, driven by AI-optimized server sales, as the company's Dell AI Factory platform helps organizations like McLaren, Worley, and Lowe's implement AI solutions; overall revenue grew 19% to $113.5 billion.

ON Semiconductor manufactures industrial sensors, wireless antennas, microcontrollers, and power solutions used in driver-assistance technology, medical diagnostics, factories, and wearables; the company has partnered with Nvidia to develop 800-volt power solutions for next-generation AI data centers.

Astera Labs designs systems that interconnect AI data center processors—including Aries retimers, Scorpio fabric switches, Leo memory controllers, and Taurus ethernet cards—with customers including Microsoft and Amazon; last fiscal quarter revenue of $308.4 million was 93% higher year over year, and analysts expect comparable growth this year and next.

Global Market Insights expects the worldwide data center infrastructure market to grow at an average annual pace of 13.4% through 2034.