The tech and news world is pumping game-changing generative AI technology, fueled by powerful new chips that greatly accelerate computing times.

Meanwhile, over in the automotive industry, vehicle electrification has industrialists turning to "old" technology, but with a twist. Many more semiconductor devices that have been around for decades are needed to manage electricity in EVs and the power grid, but some of these devices are being made with a novel material: silicon carbide (SiC). Investors have been trying to whittle down the field of chip companies that can deliver the best returns from this electric future. I've homed in on Onsemi (NASDAQ: ON), an American semiconductor giant with a large market footprint in exciting growth sectors like automotive computing.

I've been an Onsemi shareholder before, from early 2017 until the summer of 2020. The company was known as ON Semiconductor back then. After the pandemic started, I logged some profit on the stock as I was cleaning up my portfolio for what I thought would be a rough go for chip stocks going forward.

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Source Fool.com