The hottest artificial intelligence (AI) stock no doubt has been Nvidia, whose graphic processing units (GPUs) have become the backbone of the AI infrastructure buildout. However, with spending in the space still frantic as companies rush to compete, Nvidia won't be the only winner.

Analyst Edward Yang initiated coverage of two semiconductor infrastructure companies, Onto Innovation and Ultra Clean Holdings, late Tuesday, rating their stocks Outperform. These companies provide the equipment to help design chips for the larger chip makers.

Nvidia (NASDAQ:NVDA) has carved out a dominant niche in the AI revolution, commanding nearly 90% of the data center market. Its exclusive CUDA