3 Top Tech Stocks to Buy in September

Key Points

• Broadcom has a huge opportunity in front of it with custom artificial intelligence (AI) chips.

• TSMC is set to win no matter which chip designer takes share in the AI race.

• ASML has a monopoly on the technology needed to make AI chips, making it a long-term AI winner.

• 10 stocks we like better than Broadcom ›

The biggest driver of the market remains artificial intelligence (AI), which makes it a space where investors need to have some exposure. Some of the biggest growth, meanwhile, continues to come from the build-out of the data center infrastructure needed to run AI.

Let's look at three top tech stocks set to benefit from the continued spending on AI infrastructure.

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1. Broadcom

Broadcom (NASDAQ: AVGO) has suddenly become one of the most important players in the AI infrastructure build-out. With companies looking for alternatives to Nvidia's graphics processing units (GPUs), they are increasingly turning to Broadcom to help them design their own custom chips, which can be cheaper to operate and more efficient for inference workloads. This is an area where cost matters because inference is an ongoing expense, not a one-time training run.

Broadcom helped Alphabet design its tensor processing units (TPUs) that now help power its cloud computing unit, and that success led to Meta Platforms and ByteDance turning to Broadcom for help as well. These three customers alone represent a $60 billion to $90 billion opportunity by fiscal 2027 (ending October 2027).

However, those customers are just the tip of the iceberg. The company recently revealed that a fourth customer, widely believed to be OpenAI, has already placed a $10 billion order for chips that will be delivered next year. With OpenAI and Oracle planning to spend $300 billion building out data centers over the next five years, Broadcom looks like it will be a key beneficiary. Meanwhile, Apple is also working with Broadcom to develop its own custom AI chips.

Broadcom's role in creating custom AI chips is only going to become more important as inference grows in importance. That makes the stock a long-term buy that investors will want to take a closer look at now in order to take full advantage of the potential gains.

2. Taiwan Semiconductor Manufacturing

Taiwan Semiconductor Manufacturing (NYSE: TSM) has become the heart of the AI chip industry, as it is the company responsible for manufacturing most of the world's advanced chips, including those used in AI.

Manufacturing semiconductors is a highly complex process that requires both technological expertise and scale. Foundries must continue to push down node sizes, which is how many transistors can fit on a chip, to help improve chips' performance and power consumption. They also need to maintain high yields, which means most of the chips on a wafer are free of defects and usable.

Competitors like Intel and Samsung have tried to close the gap in advanced chips, but they've both struggled to produce acceptable yields at smaller node sizes. This has essentially left TSMC as the only real game in town when it comes to producing advanced chips at scale with consistent yields. As a result, it has become a key partners for all the top chip designers. This dynamic has also given it strong pricing power, with the company set to raise prices next year by another 10%.

No matter who wins market share in AI chip design, TSMC is set to benefit because it is the one that builds the chips. And with AI chip demand expected to continue to soar, TSMC is poised to continue to be a big winner. Now is the time to give this stock a closer look.

3. ASML

If TSMC is the heart of the chip industry, ASML (NASDAQ: ASML) is the company that makes the tools that allow that heart to keep beating. ASML basically has a monopoly on extreme ultraviolet (EUV) lithography, the technology needed to make advanced chips. Without its machines, TSMC, Intel, and Samsung would not be able to manufacture any advanced chips whatsoever.

Each EUV machine can cost $220 million or more, and its next-generation high-NA EUV machines cost nearly double the price. Intel was the first foundry to adopt high-NA EUV for use in production, while TSMC has taken delivery of its first machine and is testing it, but wider adoption may not come until later in the decade. Still, to push node sizes down even further, foundries will eventually need its newer high-NA EUV machines.

That said, with AI chip demand surging and foundries continuing to expand capacity, ASML will keep selling more of its existing EUV systems for years to come. There really is no alternative supplier for this technology, which gives ASML a very wide moat and pricing power.

The company also recently took a large stake in AI start-up Mistral AI, and it plans to incorporate its large language models (LLMs) throughout its product portfolio and operations. The collaboration looks like a low-risk move that could have solid benefits, but the biggest reason to own the stock is that it has a monopoly on the technology needed to make AI chips.

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Geoffrey Seiler has positions in Alphabet. The Motley Fool has positions in and recommends ASML, Alphabet, Apple, Intel, Meta Platforms, Oracle, and Taiwan Semiconductor Manufacturing. The Motley Fool recommends Broadcom and recommends the following options: short November 2025 $21 puts on Intel. The Motley Fool has a disclosure policy.